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Cree Inc. Q2 adjusted earnings Miss Estimates

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

-Earnings: -$52.8 million in Q2 vs. -$2.5 million in the same period last year.
-EPS: -$0.49 in Q2 vs. -$0.02 in the same period last year.
-Excluding items, Cree Inc. reported adjusted earnings of -$10.4 million or -$0.10 per share for the period.
-Analysts projected -$0.09 per share
-Revenue: $239.9 million in Q2 vs. $280.5 million in the same period last year.

-Guidance:
Next quarter revenue guidance: $221- $229 Mln

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