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Cree Issues Business Outlook

Cree, Inc. (CREE) said, for its fourth quarter, the company targets non-GAAP net loss to be in a range of $0.15 to $0.23 per share. Revenue is anticipated in a range of $185 million to $215 million.

For the third quarter, on a non-GAAP basis, net loss per share from continuing operations attributable to controlling interest was $0.14, compared to non-GAAP net income from continuing operations per share of $0.20, previous year.

Third quarter revenue was $215.5 million, a 21% decrease compared to revenue of $274.0 million, prior year.

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