Cree Result 20/10/2015

Cree, Inc., reported a significant widening in the net loss for Q1 at $23.6 million, up from $11.1 million on a YoY basis. Turnover remained flat on a YoY basis at $425.5 million versus $427.7 million. On a per-share basis, net loss almost tripled to 23¢ a share from 9¢ YoY. Net loss suffered primarily on account of an LED business restructuring charge of $15.9 million. However, management remains positive on account of increasing commercial lighting demand.