WOLF - Wolfspeed Non-GAAP EPS of -$0.42 misses by $0.22 revenue of $235.8M beats by $13.11M

2023-08-16 16:11:09 ET

• Wolfspeed press release ( NYSE: WOLF ): FQ4 Non-GAAP EPS of -$0.42 misses by $0.22 .
• Revenue of $235.8M (+3.2% Y/Y) beats by $13.11M .
• GAAP gross margin of 27.4%, compared to 34.5%
• Non-GAAP gross margin of 29.0%, compared to 36.5%
• GAAP net loss from continuing operations of $113.3 million, or $0.91 per diluted share, compared to $61.8 million, or $0.50 per diluted share
• Quarterly design-ins of $1.6 billion

• Business Outlook:

  For its first quarter of fiscal 2024, Wolfspeed targets revenue in a range of $220 million to $240 million, vs. consensus of $234.30M. GAAP net loss is targeted at $145 million to $169 million, or $1.16 to $1.35 per diluted share. Non-GAAP net loss is targeted to be in a range of $75 million to $94 million, or $0.60 to $0.75 per diluted share, vs. consensus of -$0.28.

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