Cree Reports Financial Results for the First Quarter of Fiscal Year 2021

DURHAM, N.C.--(BUSINESS WIRE)--Cree, Inc. (Nasdaq: CREE) today announced revenue of $216.6 million for its first quarter of fiscal 2021, ended September 27, 2020. This represents an 11% decrease compared to revenue of $242.8 million reported for the first quarter of fiscal 2020, and a 5% increase compared to the fourth quarter of fiscal 2020. GAAP net loss attributable to controlling interest for the first quarter of fiscal 2021 was $184.4 million, or $1.68 per diluted share, compared to GAAP net loss attributable to controlling interest of $37.8 million, or $0.35 per diluted share, for the first quarter of fiscal 2020. On a non-GAAP basis, net loss attributable to controlling interest for the first quarter of fiscal 2021 was $21.3 million, or $0.19 per diluted share, compared to non-GAAP net loss attributable to controlling interest for the first quarter of fiscal 2020 of $3.6 million, or $0.03 per diluted share.