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Cree Inc. Q1 adjusted earnings Beat Estimates

Below are the earnings highlights for Cree Inc. (CREE):

-Earnings: -$37.8 million in Q1 vs. -$11.1 million in the same period last year.
-EPS: -$0.35 in Q1 vs. -$0.11 in the same period last year.
-Excluding items, Cree Inc. reported adjusted earnings of -$3.6 million or -$0.03 per share for the period.
-Analysts projected -$0.05 per share
-Revenue: $242.8 million in Q1 vs. $274.2 million in the same period last year.

-Guidance:
Next quarter revenue guidance: $234 - $240 Mln

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