Wolfspeed: Fiscal Q4 Earnings Snapshot

DURHAM, N.C. (AP) — DURHAM, N.C. (AP) — Wolfspeed, Inc. (WOLF) on Wednesday reported a loss of $113.3 million in its fiscal fourth quarter.

On a per-share basis, the Durham, North Carolina-based company said it had a loss of 91 cents. Losses, adjusted for stock option expense and non-recurring costs, were 42 cents per share.

The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.

The maker of energy-efficient lighting posted revenue of $235.8 million in the period, topping Street forecasts. Eight analysts surveyed by Zacks expected $223.4 million.

For the year, the company reported a loss of $329.9 million, or $2.65 per share. Revenue was reported as $921.9 million.

For the current quarter ending in September, Wolfspeed expects its results to range from a loss of 75 cents per share to a loss of 60 cents per share.

The company said it expects revenue in the range of $220 million to $240 million for the fiscal first quarter.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WOLF at https://www.zacks.com/ap/WOLF

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