Revenue fell 13% to $371 million, but revenue from continuing operations was down 16% to $321 million. On the bottom line, the company had net income of $566,000, which is breakeven per share, but the loss per share from continuing operations was $0.03. The loss was well below the $0.11 per share in earnings expected from Wall Street. Read this story at Motley Fool.
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Durham LED maker Cree (Nasdaq: CREE) is putting a hold on lighting acquisitions as its new segment leadership team builds momentum. That’s according to statements made Tuesday by CEO Chuck Swoboda following the firm’s earnings announcement for the first quarter of its fiscal 2017. Immediately after numbers were disclosed, stock fell more than 9 percent, trading at $22.90. That’s after closing at $25.20 Tuesday. Read this story at Triangle Business Journal.