Below is transcript of Cree, Inc. (NASDAQ:CREE)’s Second Quarter 2015 Earnings Conference Call, held on January 20, 2015, at 5:00 p.m. EST. Calypso Capital Management, Beech Hill Partners and Masters Capital Management was among Cree, Inc. (NASDAQ:CREE) shareholders at the end of the first quarter.
Cree, Inc. (NASDAQ:CREE) develops and manufactures semiconductor materials and devices primarily based on silicon carbide (SiC), gallium nitride (GaN) and related compounds. It focuses on SiC and GaN on light emitting diode (LED) products. It develops lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications.
Company Executives:
Raiford Garrabrant, Director, Investor Relations
Chuck Swoboda, Chairman and Chief Executive Officer
Mike McDevitt, Chief Financial Officer.
Analysts:
Brian Lee, Goldman Sachs
Paul Coster, JPMorgan
Vishal Shah, Deutsche Bank
Jed Dorsheimer, Canaccord
Mike Ritzenthaler, Piper Jaffray
Edwin Mok, Needham & Company
Mark Heller, CLSA
Harsh Kumar, Stephens
Jeff Osborne, Cowen & Company
Sven Eenmaa, Stifel Nicolaus
Avinash Kant, D.A. Davidson
Krish Sankar, Bank of America Merrill Lynch.
Operator
Good day, ladies and gentlemen, and welcome to Cree’s second quarter 2015 earnings conference call. At this time, all participants are in listen-only mode. Later we’ll conduct a question and answer session and instructions will follow at that time. As a reminder, this conference call may be recorded. I would now like to hand the conference over to Mr. Raiford Garrabrant, director of investor relations. Sir, you may begin.
Raiford Garrabrant, Director, Investor Relations
Thank you, Sayeed, and good afternoon. Welcome to Cree’s Second Quarter Fiscal 2015 Earnings Conference Call. By now, you should have all received a copy of the press release. If you did not receive a copy, please call our office at (919) 287 7895 and we will be pleased to assist you.
Today, Chuck Swoboda, our chairman and CEO, and Mike McDevitt, our CFO, will report on our results for the second quarter of fiscal year 2015. Please note that we will be presenting both GAAP and non-GAAP financial results in our remarks during today’s call, which are reconciled in our press release and posted in the Investor Relations section of our website at www.cree.com, under Quarterly Results in the Financial Information tab. Today’s presentations include forward-looking statements about our business outlook and we may make other forward-looking statements during the call.
These may include comments concerning trends and revenue, gross margin and earnings, plans for new products and other forward-looking statements indicated by words like anticipate, expect, target, and estimate. Such forward-looking statements are subject to numerous risks and uncertainties. Our press release today, and the SEC filings noted in the release, mention important factors that could cause actual results to differ materially. Also, we’d like to note that we will be limiting our comments regarding Cree’s second quarter of fiscal year 2015 to a discussion of the information included in our earnings release.
We will not be able to answer any questions that would involve providing additional financial information about the quarter beyond the comments made in the prepared remarks. This call is being recorded on behalf of the company. The presentations and the recording of this call are copyrighted property of the company, and no other recording, reproduction, or transcription is permitted unless authorized by the company in writing. Consistent with our previous conference calls, we’re requesting that only sell side analysts ask questions during the Q&A session. Also, since we plan to complete the call in the allotted time of one hour, we ask that analysts limit themselves to one question and one follow up. We recognize that other investors may have additional questions and we welcome you to contact us after the call by email or phone. We’re also webcasting our conference call and a replay will be available on our website through February 3.
Now, I would like to turn the call over to Chuck.
