CREE, INC. CREE Income Statement

Cree, inc. (CREE)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09
Revenue, net
215,500	239,900	242,800	251,200	274,000	280,500	274,200	265,800	225,200	367,870	360,398	-342,562	341,505	401,326	371,231	474,401	366,919	393,758	381,549	382,157	409,519	413,157	427,672	436,290	405,259	415,086	391,006	375,009	348,934	346,286	315,753	306,759	284,801	304,118	268,980	243,027	219,168	256,983	268,437	264,599	234,083	199,475	169,130
Cost of revenue, net
154,100	178,000	168,600	162,500	173,500	177,000	175,900	178,200	150,337	275,267	260,066	-249,990	255,429	260,759	261,302	314,686	257,886	282,624	274,357	305,985	284,371	276,378	291,852	275,063	255,265	259,308	240,249	234,284	215,924	212,810	199,704	199,856	185,388	199,000	170,952	150,324	127,773	135,837	137,908	133,546	121,877	105,405	95,352
Gross profit
61,400	61,900	74,200	88,700	100,500	103,500	98,300	87,600	74,863	92,603	100,332	-92,572	86,076	140,567	109,929	159,715	109,033	111,134	107,192	76,172	125,148	136,779	135,820	161,227	149,994	155,778	150,757	140,725	133,010	133,476	116,049	106,903	99,413	105,118	98,028	92,703	91,395	121,146	130,529	131,053	112,206	94,070	73,778
Operating expenses:
Research and development
46,700	47,300	43,700	40,700	40,700	40,200	36,300	14,521	31,144	39,776	41,859	-5,492	41,451	37,893	39,948	62,683	41,871	31,563	32,731	45,260	43,823	46,989	46,725	48,577	46,626	44,436	41,743	39,365	39,036	39,941	37,547	36,921	36,148	35,886	34,402	30,054	31,016	29,233	24,732	21,542	20,366	19,325	20,174
Sales, general and administrative
49,700	52,800	57,600	57,000	50,600	49,200	43,900	-7,371	46,631	68,076	62,964	-67,436	68,165	76,513	68,458	80,514	64,489	67,877	70,172	76,803	71,860	72,375	69,692	70,871	65,368	67,943	64,278	61,696	62,140	60,100	52,645	52,303	50,074	49,176	45,539	39,133	37,603	33,366	29,202	37,474	28,954	25,560	23,613
Amortization or impairment of acquisition-related intangibles
3,700	3,600	3,600	3,900	3,900	3,900	3,900	-7,900	1,516	6,792	6,792	-17,307	8,362	5,937	6,408	8,477	7,318	6,468	6,469	6,477	6,749	6,495	6,499	10,188	7,257	7,256	7,287	7,715	7,719	7,719	7,670	7,614	7,368	7,367	3,925	2,671	2,693	2,706	2,706	3,045	3,045	3,045	3,045
Loss on disposal or impairment of other assets
-300	-800	-1,000	1,000	-5,300	0	-400	-2,425	1,112	-4,262	-2,825	-259	-500	-717	-324	-5,437	104	-2,015	-9,565	-44,081	-1,459	-735	-1,447	-909	-364	-760	-657	-1,088	-863	-624	-898	-1,393	-816	-497	-775	-646	-405	-429	-472	-452	-3,286	-110	-293
Other operating expense
-10,800	-13,800	-7,200	-13,700	-11,100	-200	-3,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill, Impairment Loss
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on Contract Termination
-	-	-	-	-	-	-	-	-	-	-	-	12,500	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
-	-	-	-	-	-	-	-	80,403	118,906	114,440	-	105,978	121,060	115,138	157,111	113,574	107,923	118,937	172,621	123,891	126,594	124,363	130,545	119,615	120,395	113,965	109,864	109,758	108,384	98,760	98,231	94,406	92,926	84,641	72,504	71,717	65,734	57,112	62,513	55,651	48,040	47,125
Operating (loss) income
-49,800	-56,400	-38,900	-25,600	-11,100	10,000	10,800	17,951	-5,540	-26,303	-14,108	-14,496	-19,902	19,507	-5,209	2,604	-4,541	3,211	-11,745	-96,449	1,257	10,185	11,457	30,682	30,379	35,383	36,792	30,861	23,252	25,092	17,289	8,672	5,007	12,192	13,387	20,199	19,678	55,412	73,417	68,540	56,555	46,030	26,653
Non-operating expense, net
-14,500	5,100	1,600	-5,600	-8,400	-5,600	-9,700	-5,261	-10,000	26,729	-1,068	8,053	9,865	-4,760	-158	1,035	717	8,016	-22,803	-14,155	-866	1,728	2,904	3,922	3,152	3,403	2,818	2,685	2,512	2,481	3,385	-	324	-111	-	-	-	-	-	-	-	-	-
Loss before income taxes
-64,300	-51,300	-37,300	-31,200	-19,500	4,400	1,100	12,690	-15,540	426	-15,176	-6,443	-10,037	14,747	-5,367	3,639	-3,824	11,227	-34,548	-110,604	391	11,913	14,361	34,604	33,531	38,786	39,610	33,546	25,764	27,573	20,674	10,246	7,190	13,881	16,330	23,257	21,954	57,645	75,371	70,343	58,724	47,991	28,414
Gain on sale of investments, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	0
Other non-operating income, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	974	-	106	63	-62	160	44	-41	131
Interest income, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,859	1,800	1,969	-	2,170	2,170	2,016	1,644	2,125	2,001	1,630
Income tax (benefit) expense
-2,900	1,200	500	3,400	2,800	4,600	1,900	12,806	-5,377	-13,326	4,697	-10,574	88,976	8,531	-5,933	9,003	-3,976	1,815	-8,812	-22,155	-85	-238	3,231	5,456	5,367	3,105	9,113	5,304	3,607	7,170	4,551	220	-2,299	1,803	3,511	3,449	3,073	7,870	17,335	17,495	14,094	14,205	7,388
Net loss from continuing operations
-61,400	-52,500	-37,800	-34,600	-22,300	-200	-800	-28,900	-	-	-	-	-	-	-	-	-	9,412	-25,736	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from discontinued operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,030	1,247	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss from discontinued operations
0	0	0	-99,200	-205,400	-2,300	-10,300	-4,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
-	-	-	-	-	-	-	-	-10,163	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax
-	-	-	-	-	-	-	-	-230,370	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss
-61,400	-52,500	-37,800	-133,800	-227,700	-2,500	-11,100	-33,300	-240,533	13,752	-19,873	-5,869	-99,013	6,216	566	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to noncontrolling interest
200	300	0	-100	100	0	0	0	44	31	-16	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss attributable to controlling interest
-61,600	-52,800	-37,800	-133,700	-227,800	-2,500	-11,100	-33,300	-240,577	13,721	-19,857	-5,869	-99,013	6,216	566	-10,641	152	13,442	-24,489	-88,449	476	12,151	11,130	29,148	28,164	35,681	30,497	28,242	22,157	20,403	16,123	10,026	9,489	12,078	12,819	19,808	18,881	49,775	58,036	52,848	44,630	33,786	21,026
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share
-	-	-	-	-	-	-	-	-2.30	-	-	-	-	-	-	-	-	0.04	0.01	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic and diluted loss per share
Continuing operations attributable to controlling interest (USD per share)
-0.57	-0.49	-0.35	-	-0.22	0.00	-0.01	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss attributable to controlling interest (USD per share)
-0.57	-0.49	-0.35	-	-2.20	-0.02	-0.11	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average shares - basic and diluted (shares)
108,115	107,925	107,113	-	103,659	102,871	101,884	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Continuing operations attributable to controlling interest - basic (USD per share)
-	-	-	-0.33	-	-	-	-0.29	-0.10	-	-	-	-	-	-	-	-	0.09	-0.25	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss attributable to controlling interest - basic (USD per share)
-	-	-	-1.26	-	-	-	-0.33	-2.40	0.14	-0.20	-0.05	-1.02	0.06	0.01	-0.10	0.00	0.13	-0.24	-0.77	0.00	0.11	0.09	0.23	0.23	0.30	0.26	0.24	0.19	0.18	0.14	0.10	0.08	0.10	0.11	0.18	0.17	0.46	0.54	0.52	0.42	0.32	0.23
Diluted loss per share
Continuing operations attributable to controlling interest - diluted (USD per share)
-	-	-	-0.33	-	-	-	-0.29	-0.10	-	-	-	-	-	-	-	-	0.09	-0.25	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss attributable to controlling interest - diluted (USD per share)
-	-	-	-1.26	-	-	-	-0.33	-2.40	0.14	-0.20	-0.05	-1.02	0.06	0.01	-0.10	0.00	0.13	-0.24	-0.76	0.00	0.10	0.09	0.23	0.23	0.29	0.25	0.23	0.19	0.18	0.14	0.10	0.08	0.10	0.11	0.18	0.17	0.45	0.53	0.49	0.41	0.32	0.23
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share
-	-	-	-	-	-	-	-	-2.30	-	-	-	-	-	-	-	-	0.04	0.01	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average shares (in thousands)
Basic (shares)
-	-	-	-	-	-	-	100,985	100,140	99,184	97,811	97,576	97,346	98,467	100,559	100,662	100,606	102,391	103,473	106,557	110,662	115,264	119,605	120,461	121,535	120,932	119,564	118,298	116,682	115,965	115,539	115,729	115,641	115,536	111,866	109,075	108,948	108,364	107,701	107,366	106,367	104,591	91,160
Diluted (shares)
-	-	-	-	-	-	-	99,406	100,140	100,763	97,811	97,313	97,346	98,730	100,559	99,917	101,221	102,521	103,473	103,510	111,590	115,845	121,143	122,393	123,695	123,204	122,364	120,938	118,608	116,410	115,960	116,400	116,074	115,883	112,543	110,224	110,323	109,976	109,617	110,854	108,601	106,607	92,730