WOLF FY 2011 Earnings Report — Wolfspeed, Inc. Revenue & Financial Results | Market Cap Arena

Wolfspeed, Inc.WOLF

FY 2011 Earnings

Reported August 17, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$988M	—	$867M	—	13.9%
Op. Income	$171M	—	$202M	—	-15.5%
Gross Margin	43.0%	—	46.0%	—	-3.0pp
Net Margin	14.8%	—	17.6%	—	-2.7pp
EPS (Diluted)	$3.99	—	$4.35	—	-8.3%
Free Cash Flow	$14M	—	$82M	—	-82.6%

Revenue Flow

Item	Amount
REVENUE	$988M
Cost of Revenue	$563M
GROSS PROFIT	$425M
R&D Expenses	$115M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$139M
Other Expenses	$0
Operating Expenses	$254M
Cost & Expenses	$817M
OPERATING INCOME	$171M
Interest Income	$9M
Interest Expense	$0
Other Income/Expenses	$8M
INCOME BEFORE TAX	$178M
Income Tax Expense	$32M
Net Income from Continuing Ops	$147M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$147M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$147M
D&A	$109M
EBIT	$171M
EBITDA	$279M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$988M
Cost of Revenue	$563M
GROSS PROFIT	$425M
R&D Expenses	$115M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$139M
Other Expenses	$0
Operating Expenses	$254M
Cost & Expenses	$817M
OPERATING INCOME	$171M
Interest Income	$9M
Interest Expense	$0
Other Income/Expenses	$8M
INCOME BEFORE TAX	$178M
Income Tax Expense	$32M
Net Income from Continuing Ops	$147M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$147M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$147M
D&A	$109M
EBIT	$171M
EBITDA	$279M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$147M
Depreciation & Amortization	$109M
Stock-Based Compensation	$0
Deferred Income Tax	-$16M
Other Non-Cash Items	$46M
Change in Working Capital	-$33M
OPERATING CASH FLOW	$251M
Capital Expenditure	-$237M
Acquisitions (Net)	$205.0K
Purchases of Investments	-$396M
Sales/Maturities of Investments	$342M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$303M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$10M
NET CASH FROM FINANCING	$45M
FREE CASH FLOW	$14M
Net Change in Cash	-$7M

Balance Sheet

Item	Amount
Cash & Equivalents	$391M
Short-Term Investments	$695M
Net Receivables	$125M
Inventory	$176M
Other Current Assets	$18M
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$556M
Goodwill	$326M
Intangible Assets	$103M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$5M
TOTAL NON-CURRENT ASSETS	$990M
TOTAL ASSETS	$2.4B
Account Payables	$77M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$30M
TOTAL CURRENT LIABILITIES	$140M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$22M
Other Non-Current Liabilities	$23M
TOTAL NON-CURRENT LIABILITIES	$45M
TOTAL LIABILITIES	$185M
Common Stock	$136.0K
Additional Paid-In Capital	$1.6B
Retained Earnings	$655M
Treasury Stock	$0
Accum. Other Comp. Income	$13M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.3B
Minority Interest	$0
TOTAL EQUITY	$2.3B
TOTAL LIABILITIES & EQUITY	$2.4B
Total Debt	$0
Net Debt	-$391M