$WOLF
WOLFSPEED, INC.

2012 Q4 Form 10-Q Financial Statement

#000089541912000068 Filed on October 17, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $346.3M $315.8M $269.0M
YoY Change 13.87% 17.39% 0.2%
Cost Of Revenue $212.8M $199.7M $171.0M
YoY Change 6.93% 16.82% 23.96%
Gross Profit $133.5M $116.0M $98.03M
YoY Change 27.0% 18.38% -24.9%
Gross Profit Margin 38.55% 36.75% 36.44%
Selling, General & Admin $60.10M $52.65M $45.54M
YoY Change 22.21% 15.6% 55.94%
% of Gross Profit 45.02% 45.36% 46.46%
Research & Development $39.90M $37.55M $34.40M
YoY Change 11.19% 9.14% 39.1%
% of Gross Profit 29.89% 32.35% 35.09%
Depreciation & Amortization $39.90M $36.47M $32.13M
YoY Change 10.22% 13.53% 31.69%
% of Gross Profit 29.89% 31.43% 32.77%
Operating Expenses $107.8M $98.76M $84.64M
YoY Change 16.01% 16.68% 48.2%
Operating Profit $25.70M $17.29M $13.39M
YoY Change 110.79% 29.15% -81.77%
Interest Expense $2.300M $1.600M $3.000M
YoY Change 27.78% -46.67% 50.0%
% of Operating Profit 8.95% 9.25% 22.41%
Other Income/Expense, Net $200.0K $3.385M $974.0K
YoY Change -280.18% 247.54% -1670.97%
Pretax Income $27.60M $20.67M $16.33M
YoY Change 98.83% 26.6% -78.33%
Income Tax $7.200M $4.551M $3.511M
% Of Pretax Income 26.09% 22.01% 21.5%
Net Earnings $20.40M $16.12M $12.82M
YoY Change 68.9% 25.77% -77.91%
Net Earnings / Revenue 5.89% 5.11% 4.77%
Basic Earnings Per Share $0.14 $0.11
Diluted Earnings Per Share $0.18 $0.14 $0.11
COMMON SHARES
Basic Shares Outstanding 116.3M shares 115.5M shares 111.9M shares
Diluted Shares Outstanding 116.0M shares 112.5M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $885.8M $816.3M $632.2M
YoY Change 28.89% 29.11% -42.46%
Cash & Equivalents $179.6M $163.9M $139.2M
Short-Term Investments $706.2M $652.4M $493.1M
Other Short-Term Assets $83.00M $82.00M $77.50M
YoY Change 15.76% 5.81% 31.8%
Inventory $185.0M $179.7M $203.6M
Prepaid Expenses
Receivables $144.6M $162.3M $165.7M
Other Receivables $0.00 $0.00 $1.600M
Total Short-Term Assets $1.298B $1.240B $1.081B
YoY Change 17.55% 14.77% -23.17%
LONG-TERM ASSETS
Property, Plant & Equipment $555.0M $566.1M $606.9M
YoY Change -8.33% -6.71% 32.04%
Goodwill $616.3M $616.3M $613.8M
YoY Change -0.26% 0.41%
Intangibles $366.5M $372.0M $390.5M
YoY Change -4.92% -4.74%
Long-Term Investments
YoY Change
Other Assets $7.733M $7.920M $5.460M
YoY Change 29.1% 45.05% 11.43%
Total Long-Term Assets $1.546B $1.562B $1.617B
YoY Change -4.29% -3.36% 83.32%
TOTAL ASSETS
Total Short-Term Assets $1.298B $1.240B $1.081B
Total Long-Term Assets $1.546B $1.562B $1.617B
Total Assets $2.844B $2.803B $2.697B
YoY Change 4.58% 3.9% 17.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $94.50M $87.50M $74.10M
YoY Change 15.95% 18.08% -5.61%
Accrued Expenses $39.90M $37.40M $25.70M
YoY Change 53.46% 45.53% 2.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $176.0M $175.0M $152.4M
YoY Change 17.96% 14.82% 15.44%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $16.76M $20.00M $25.02M
YoY Change -35.83% -20.07% 52.53%
Total Long-Term Liabilities $32.50M $35.71M $46.92M
YoY Change -32.33% -23.88% 186.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $176.0M $175.0M $152.4M
Total Long-Term Liabilities $32.50M $35.71M $46.92M
Total Liabilities $208.4M $210.7M $199.3M
YoY Change 5.71% 5.71% 6.12%
SHAREHOLDERS EQUITY
Retained Earnings $723.8M $703.4M $667.6M
YoY Change 6.48% 5.35%
Common Stock $145.0K $144.0K $144.0K
YoY Change 0.69% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.636B $2.592B $2.498B
YoY Change
Total Liabilities & Shareholders Equity $2.844B $2.803B $2.697B
YoY Change 4.58% 3.9% 17.87%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $20.40M $16.12M $12.82M
YoY Change 68.9% 25.77% -77.91%
Depreciation, Depletion And Amortization $39.90M $36.47M $32.13M
YoY Change 10.22% 13.53% 31.69%
Cash From Operating Activities $92.60M $85.69M $41.65M
YoY Change 14.89% 105.75% -52.95%
INVESTING ACTIVITIES
Capital Expenditures $22.40M $12.60M $33.96M
YoY Change -2.61% -62.91% -44.91%
Acquisitions $0.00 $456.0M
YoY Change -100.0%
Other Investing Activities -$56.90M -$88.20M -$257.8M
YoY Change 120.54% -65.79% 1222.05%
Cash From Investing Activities -$79.30M -$106.3M -$295.9M
YoY Change 62.5% -64.07% 255.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.286M $2.094M
YoY Change 152.44% -68.7%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.400M $5.328M $2.355M
YoY Change 500.0% 126.24% -75.63%
NET CHANGE
Cash From Operating Activities 92.60M $85.69M $41.65M
Cash From Investing Activities -79.30M -$106.3M -$295.9M
Cash From Financing Activities 2.400M $5.328M $2.355M
Net Change In Cash 15.70M -$15.30M -$251.9M
YoY Change -51.24% -93.93% -1781.53%
FREE CASH FLOW
Cash From Operating Activities $92.60M $85.69M $41.65M
Capital Expenditures $22.40M $12.60M $33.96M
Free Cash Flow $70.20M $73.09M $7.683M
YoY Change 21.88% 851.31% -71.41%

Facts In Submission

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CY2011Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2355000 USD
CY2012Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5328000 USD
CY2011Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-295893000 USD
CY2012Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-106309000 USD
CY2011Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
41645000 USD
CY2012Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
85686000 USD
CY2011Q3 us-gaap Operating Expenses
OperatingExpenses
84641000 USD
CY2012Q3 us-gaap Operating Expenses
OperatingExpenses
98760000 USD
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
17289000 USD
CY2011Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
13387000 USD
CY2012Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
7920000 USD
CY2012Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
8336000 USD
CY2012Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
182000 USD
CY2011Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
323000 USD
CY2011Q3 us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax
197000 USD
CY2012Q3 us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax
110000 USD
CY2012Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
533000 USD
CY2011Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-1092000 USD
CY2011Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-661000 USD
CY2012Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
323000 USD
CY2012Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
715000 USD
CY2011Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-769000 USD
CY2012Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
36633000 USD
CY2011Q3 us-gaap Revenues
Revenues
268980000 USD
CY2012Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2012Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2012Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2012Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
56917000 USD
CY2012Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
60223000 USD
CY2012Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2012Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2012Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
40425000 USD
CY2012Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
22695000 USD
CY2012Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
19995000 USD
CY2012Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1593000 USD
CY2011Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
974000 USD
CY2012Q3 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
179601000 USD
CY2011Q3 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
80874000 USD
CY2012Q3 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2011Q3 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
456008000 USD
CY2011Q3 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
4159000 USD
CY2012Q3 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
5548000 USD
CY2011Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
33962000 USD
CY2012Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12597000 USD
CY2012Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2012Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2012Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
3000000 shares
CY2012Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
3000000 shares
CY2012Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2012Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5286000 USD
CY2011Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2094000 USD
CY2011Q3 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
42590000 USD
CY2012Q3 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
78504000 USD
CY2012Q3 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
12886000 USD
CY2011Q3 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
236518000 USD
CY2012Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
47000 USD
CY2011Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2000 USD
CY2012Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5513000 USD
CY2012Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5981000 USD
CY2012Q3 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
549000 USD
CY2012Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
626000 USD
CY2012Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
582461000 USD
CY2012Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
566138000 USD
CY2011Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
34402000 USD
CY2012Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
37547000 USD
CY2012Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
703361000 USD
CY2012Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
687238000 USD
CY2012Q3 us-gaap Revenues
Revenues
315753000 USD
CY2011Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
268980000 USD
CY2012Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
315753000 USD
CY2012Q3 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
707000 USD
CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
2591975000 USD
CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
2560017000 USD
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
52645000 USD
CY2011Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
45539000 USD
CY2012Q3 us-gaap Share Based Compensation
ShareBasedCompensation
12485000 USD
CY2011Q3 us-gaap Share Based Compensation
ShareBasedCompensation
11440000 USD
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Discount From Market Price Purchase Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardDiscountFromMarketPricePurchaseDate
0.15
CY2012Q3 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
2200000 USD
CY2012Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4400000 USD
CY2012Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4400000 USD
CY2012Q3 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0 USD
CY2011Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
677000 shares
CY2012Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
421000 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
115960000 shares
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
112543000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115539000 shares
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
111866000 shares
CY2012Q2 cree Allowance For Sales Returns And Other Incentives
AllowanceForSalesReturnsAndOtherIncentives
20681000 USD
CY2012Q3 cree Allowance For Sales Returns And Other Incentives
AllowanceForSalesReturnsAndOtherIncentives
21921000 USD
CY2011Q3 cree Gross Profit Before Unallocated Variable Cost Of Sales
GrossProfitBeforeUnallocatedVariableCostOfSales
102452000 USD
CY2012Q3 cree Gross Profit Before Unallocated Variable Cost Of Sales
GrossProfitBeforeUnallocatedVariableCostOfSales
119989000 USD
CY2012Q3 cree Intangible Assets Gross
IntangibleAssetsGross
496577000 USD
CY2012Q2 cree Intangible Assets Gross
IntangibleAssetsGross
491656000 USD
CY2012Q3 cree Share Based Compensation Common Stock Purchase Terms Per Year
ShareBasedCompensationCommonStockPurchaseTermsPerYear
2
CY2012Q3 cree Share Based Compensation Equity Based Compensation Plan Number
ShareBasedCompensationEquityBasedCompensationPlanNumber
1 plans
CY2012Q3 cree Unallocated Variable Cost Of Sales
UnallocatedVariableCostOfSales
3940000 USD
CY2011Q3 cree Unallocated Variable Cost Of Sales
UnallocatedVariableCostOfSales
4424000 USD
CY2012Q3 dei Amendment Flag
AmendmentFlag
false
CY2012Q3 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
CY2012Q3 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2012Q3 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2012Q3 dei Document Period End Date
DocumentPeriodEndDate
2012-09-23
CY2012Q3 dei Document Type
DocumentType
10-Q
CY2012Q3 dei Entity Central Index Key
EntityCentralIndexKey
0000895419
CY2012Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
116283450 shares
CY2012Q3 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2012Q3 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012Q3 dei Entity Registrant Name
EntityRegistrantName
CREE INC
CY2012Q3 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2012Q3 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

Files In Submission

Name View Source Status
0000895419-12-000068-index-headers.html Edgar Link pending
0000895419-12-000068-index.html Edgar Link pending
0000895419-12-000068.txt Edgar Link pending
0000895419-12-000068-xbrl.zip Edgar Link pending
a10qform1qfy2013.htm Edgar Link pending
cree-20120923.xml Edgar Link completed
cree-20120923.xsd Edgar Link pending
cree-20120923_cal.xml Edgar Link unprocessable
cree-20120923_def.xml Edgar Link unprocessable
cree-20120923_lab.xml Edgar Link unprocessable
cree-20120923_pre.xml Edgar Link unprocessable
creelogo.jpg Edgar Link pending
ex1031qfy2013.htm Edgar Link pending
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