This statistic explores CREE’s Gross Profit by Segment, reported on a quarterly basis from Q1 2016 onwards.
Introduction
Cree Inc. is an American manufacturer and marketer of lighting- class LED’s, lighting products and products for power and radio frequency applications. The company’s products are used for indoor and outdoor lighting, video displays, inverters and wireless systems.
Cree’s business can be divided into three segments – LED Products, Lighting Products and Wolfspeed.
CREE’s Gross Profit by Segment
Cree Gross Profit by Segment- LED Products
The gross profit in the LED segment was $42.83 million in the third quarter of 2016 and $46.17 million in the last quarter of 2016. Gross profit dropped in 2017 to $41.77 million in the first quarter, $40.31 million in the second quarter, $32.39 million in the third quarter and $37.21 million by the end of the fourth quarter. The gross profit numbers improved in 2018 and went up to $38.81 million in the first quarter, $38.61 million in the second quarter, $37.76 million in the third quarter and $42.73 million by the end of the year. LED gross profit saw huge drops towards the end of 2019. The gross profit in 2019 was $41.28 million in the first quarter, $43.52 million in the second quarter, $36.98 million in the third quarter and $28.30 million in the fourth quarter. Gross profit for 2020 was $22.10 million in the first quarter and $26.50 million in the second quarter.
Cree Gross Profit by Segment- Lighting Products
Gross profit in the lighting products segment was $48.81 million in the third quarter of 2016 and $51.17 million in the fourth quarter. The gross profits went up to $49.29 million in the first quarter of 2017. And $74.77 million in the second quarter. Q3 and Q4 dropped to $35.35 million and $36.80 million respectively. Lighting gross profit dropped further in 2018 to $31.88 million in the first quarter. And, $22.96 million in the second quarter. With $24.96 million and $29.12 million in Q3 and Q4 respectively. The gross profit then increased in 2019 to $31.06 million in the first quarter. And $34.07 million by the end of the second quarter.
Cree Gross Profit by Segment- Wolfspeed
Gross profit from Wolfspeed was $22.75 million in the third quarter of 2016 and $23.63 million in the fourth quarter. The gross profit from this segment increased in 2017 to $ 23.46 million in the first quarter. And, $25.91 million in the second quarter. With $26.40 million in the third quarter and $27.70 million by Q4. Wolspeed gross profit increased further in 2018 to $32.40 million in the first quarter. And, $34.13 million in the second quarter. With $39.28 million in the Q3. It jumped to $52.64 million Q4 of 2018. Gross profit increased to $60.42 million in the first quarter of 2019. And, $64.84 million in the second quarter with $68.85 million in Q3. And, $67.40 million by the end of the year. Gross profit dropped in 2020 to $59 million in the first quarter and $41 million by the end of the second quarter.
Conclusion
Gross Profit for Cree has been dropping every year, except from the Wolfspeed segment. The gross profit from the wolfspeed segment recently declined which might be the cause of the pandemic.
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