Wolfspeed, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2024
May 01, 2024 at 04:06 pm EDT
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Wolfspeed, Inc. reported earnings results for the third quarter and nine months ended March 31, 2024. For the third quarter, the company reported sales was USD 200.7 million compared to USD 192.6 million a year ago. Net loss was USD 148.9 million compared to USD 99.5 million a year ago. Basic loss per share from continuing operations was USD 1.18 compared to USD 0.67 a year ago. Basic loss per share was USD 1.18 compared to USD 0.8 a year ago.
For the nine months, sales was USD 606.5 million compared to USD 555.8 million a year ago. Net loss was USD 689.3 million compared to USD 216.6 million a year ago. Basic loss per share from continuing operations was USD 3.18 compared to USD 1.36 a year ago. Basic loss per share was USD 5.49 compared to USD 1.74 a year ago.
Wolfspeed, Inc. is a semiconductor company focused on silicon carbide technologies. The Company provides solutions for efficient energy consumption and a sustainable future. Its product families include silicon carbide material and power devices targeted for various applications such as electric vehicles, fast charging, and renewable energy and storage. Its products include Discrete MOSFETs, Discrete Schottky Diodes, Bare Die MOSFETs, Bare Die Schottky Diodes, Power Modules, Gate Driver Boards, Evaluation Kits, Reference Designs and Materials Products. The Companyâs silicon carbide fabrication facility is located in Marcy, New York.