=Cree (CREE) reported earnings on Wed 23 August 2017 (b/o)

Cree reports EPS in-line, beats on revs; guides Q1 EPS below consensus, revs in-line

• Reports Q4 (Jun) earnings of $0.04 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $0.04; revenues fell 7.6% year/year to $359 mln vs the $349.82 mln Capital IQ Consensus.
• Co issues guidancefor Q1, sees EPS of $0.02-0.06, excluding non-recurring items, vs. $0.12 Capital IQ Consensus Estimate; sees Q1 revs of $353-367 mln vs. $361.87 mln Capital IQ Consensus Estimate.
• "We made progress in Q4, with good results in each business and non-GAAP earnings per share that were in the middle of our target range."