Wolfspeed Inc (WOLF) Q3 2015 10-Q Quarterly Earnings

Short answer

Wolfspeed Inc (WOLF) filed its Q3 2015 10-Q quarterly report on Oct 21, 2015 for the quarter ended Sep 27, 2015.

AI summary of MD&A and risk factor updates

Revenue $425.5M, down 1% YoY from $427.7M, with Lighting Products up 11% to $248.0M
Gross margin 31.0% vs 31.8%; operating margin (2)% vs 3%, with $9M operating loss versus $11M income
Best segment Lighting Products: revenue $248.0M, gross margin 27.9% vs 24.9%; worst LED Products: revenue $148.2M, down 15%
Cash and investments $0.6B vs $0.7B; operating cash flow $46.8M vs $13.3M; share repurchases $69.6M
Fiscal 2016 target: revenue growth approximately 10%, operating margins increasing; competition and LED pricing pressure remain headwinds

New risk: proposed Wolfspeed IPO, uncertain completion, valuation, proceeds, and potential loss of consolidated results
Market risk: fiscal 2015 LED restructuring followed aggressive pricing, with benefits potentially delayed or unrealized
Regulatory risk: conflict-minerals diligence may increase sourcing costs and create reputational exposure
Operational risk: Racine information-technology platform implementation could cause transaction errors or business disruption
Financial risk: revolving-credit covenant breach could accelerate debt and terminate further borrowing availability

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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