Benzinga | Aug 17, 2021 04:04PM EDT

Cree Sees Q2 Adj. EPS $(0.25)-$(0.21) vs $(0.23) Est., Sales $144M-$154M vs $153.36M Est.

For its first quarter of fiscal 2022, Cree targets revenue in a range of $144 million to $154 million. GAAP net loss is targeted at $78 million to $82 million, or $0.67 to $0.70 per diluted share. Non-GAAP net loss is targeted to be in a range of $25 million to $29 million, or $0.21 to $0.25 per diluted share. Targeted non-GAAP net loss excludes $53 million of estimated expenses, net of tax, related to stock-based compensation expense, amortization or impairment of acquisition-related intangibles, factory optimization restructuring and start-up costs, net accretion on convertible notes, interest income from transaction-related note receivable and project, transformation, transaction and transition costs.