WOLFSPEED, INC. (CREE) [Rocket]

In millions, except per share items	Jun-25-23	Jun-26-22	Jun-27-21	Jun-28-20	Jun-30-19	Jun-24-18	Jun-25-17	Jun-26-16
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Wolfspeed						328.6	221.2	176.3
LED Products						596.3	550.3	551.2
Arrow Electronics, Inc.						194.2	185.2	161.7
Lighting Products								889.1
Total revenues [+]	921.9	746.2	525.6	470.7	538.2	924.9	771.5	1,616.6
Products								1,616.6
Revenue growth [+]	23.5%	42.0%	11.7%	-12.5%	-41.8%	19.9%	-52.3%	-1.0%
Wolfspeed						48.6%	25.4%	3.1%
LED Products						8.4%	-0.2%	-0.7%
Arrow Electronics, Inc.						4.9%	14.5%	-17.5%
Lighting Products								-1.9%
Cost of goods sold	642.4	496.9	361.0	312.2	294.5	622.9	527.5	1,129.6
Gross profit	279.5	249.3	164.6	158.5	243.7	302.0	244.0	487.1
Gross margin	30.3%	33.4%	31.3%	33.7%	45.3%	32.7%	31.6%	30.1%
Selling, general and administrative	235.3	203.5	181.6	181.7	168.9	170.3	145.7	283.1
Research and development	225.4	196.4	177.8	152.0	121.1	127.3	113.8	168.8
Other operating expenses	197.4	97.5	117.5	47.4	42.2	32.4	4.6	28.7
EBITDA [+]	-214.6	-118.3	-191.4	-125.5	-2.3	83.6	130.4	165.6
EBITDA growth	81.4%	-38.2%	52.5%	5356.5%	-102.8%	-35.9%	-21.2%	12.3%
EBITDA margin	-23.3%	-15.9%	-36.4%	-26.7%	-0.4%	9.0%	16.9%	10.2%
Depreciation	164.0	129.8	120.9	97.1	86.2	111.6	136.9	118.7
EBITA	-378.6	-248.1	-312.3	-222.6	-88.5	-28.0	-6.5	46.8
EBITA margin	-41.1%	-33.2%	-59.4%	-47.3%	-16.4%	-3.0%	-0.8%	2.9%
Amortization of intangibles							13.6	40.4
EBIT [+]	-378.6	-248.1	-312.3	-222.6	-88.5	-28.0	-20.1	6.4
EBIT growth	52.6%	-20.6%	40.3%	151.5%	216.1%	39.3%	-412.0%	-124.9%
EBIT margin	-41.1%	-33.2%	-59.4%	-47.3%	-16.4%	-3.0%	-2.6%	0.4%
Non-recurring items [+]	2.0	-0.3	1.6	1.5	5.0			16.9
Loss (gain) on sale of assets	2.0	-0.3	1.6	1.5	5.0			16.9
Interest income, net [+]	28.7	-1.3	-4.0	10.4	9.9	3.0	3.7	1.7
Interest expense	29.5	13.1	14.1	5.9	4.0	6.1
Interest income	58.2	11.8	10.1	16.3	13.9	9.1	3.7	1.7
Other income (expense), net [+]	23.4	-37.0	-22.3	8.1	-39.3	7.4	9.3	-14.7
Other	52.1	-38.3	-26.3	18.5	-29.4	10.4	-13.0
Pre-tax income	-328.5	-286.1	-340.2	-205.6	-122.9	-17.6	-7.1	-23.5
Income taxes	1.4	9.0	1.1	-8.0	-4.4	-1.2	81.0	-2.0
Tax rate				3.9%	3.6%	6.8%		8.4%
Minority interest			1.4	1.1		0.1
Earnings from continuing ops	-329.9	-295.1	-342.7	-198.7	-118.5	-16.5	-88.1	-21.5
Earnings from discontinued ops		94.2	-181.2	7.0	-256.6	-263.5	-10.0
Net income	-329.9	-200.9	-523.9	-191.7	-375.1	-280.0	-98.1	-21.5
Net margin	-35.8%	-26.9%	-99.7%	-40.7%	-69.7%	-30.3%	-12.7%	-1.3%

Basic EPS [+]	($2.65)	($2.46)	($3.05)	($1.84)	($1.14)	($0.17)	($0.89)	($0.21)
Growth	8.0%	-19.5%	65.7%	60.9%	590.1%	-81.5%	322.8%	-63.0%
Diluted EPS [+]	($2.65)	($2.46)	($3.05)	($1.84)	($1.14)	($0.17)	($0.89)	($0.21)
Growth	8.0%	-19.5%	65.7%	60.9%	590.1%	-81.5%	322.8%	-63.0%

Shares outstanding (basic) [+]	124.4	120.1	112.3	107.9	103.6	99.5	98.5	101.8
Growth	3.5%	6.9%	4.1%	4.2%	4.1%	1.1%	-3.2%	-9.9%
Shares outstanding (diluted) [+]	124.4	120.1	112.3	107.9	103.6	99.5	98.5	101.8
Growth	3.5%	6.9%	4.1%	4.2%	4.1%	1.1%	-3.2%	-9.9%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.