EPS & Earnings ... Hits & Misses

[madrose1]

CREE $17-$20-$17 misses by $0.01; guides Q4 EPS in-line; guides Q4 revs above consensus (17.94 -0.05) : Reports Q3 (Mar) earnings of $0.04 per share, excluding $0.23 tax gain, $0.01 worse than the Reuters Estimates consensus of $0.05; revenues fell 16.2% year/year to $90.3 mln vs the $89.7 mln consensus. Co issues in-line EPS guidance for Q4, sees EPS of $0.05-0.07, ex-items, vs. $0.06 consensus; sees Q4 revs of $110-115 mln vs. $94.57 mln consensus.

Cree: Earnings conf call summary (17.94 -0.05) -Update : Co did not answer any questions about material in 3Q07 that was not included in the earnings release, due to an ongoing SEC investigation... Co sees $60-80 mln rev increase for FY08 from the acquisition of COTCO; sees $0.04-0.06 EPS increase for FY08 due to transaction, excluding amortization of intangibles. Co is not breaking out what portion of the Q4 guidance (given in earnings release) is from COTCO... Co did not repurchase any stock last quarter and has approx 4 mln shares left in current plan to be repurchased... Co says there has been no significant change in their 10% customers, though they don't break that out until the end of the fiscal year in their 10-K...