Cree Inc. (CREE) reported first quarter non-GAAP EPS of $0.15 after the bell Tuesday, down from $0.21 in the previous year. The consensus estimate was for EPS of $0.11. Revenues fell 15.8% to $321.33 million from $381.55 million last year. Street expectations had been for revenues of $322.77 million.
The company expects to report second quarter EPS of $0.13 to $0.19. Analysts are expecting EPS of $0.15.
Cree gapped up slightly Tuesday and advanced further around midday. Profit taking set in going into the close, but the stock finished up by 0.40 at $25.20.
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