Cree Inc. Earnings Fall 80% In Q4

(RTTNews) - Cree Inc. (CREE) revealed a profit for fourth quarter that fell from last year.

The company said its earnings came in at $3.83 million, or $0.04 per share. This was down from $18.92 million, or $0.19 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.04 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 7.6% to $358.94 million. This was down from $388.41 million last year.

Cree Inc. earnings at a glance:

-Earnings (Q4): $3.83 Mln. vs. $18.92 Mln. last year. -Earnings Decline (Y-o-Y): -79.8% -EPS (Q4): $0.04 vs. $0.19 last year. -EPS Decline (Y-o-Y): -78.9% -Analysts Estimate: $0.04 -Revenue (Q4): $358.94 Mln vs. $388.41 Mln last year. -Revenue Change (Y-o-Y): -7.6%