10-Q Filing

WOLFSPEED, INC. CIK: 895419 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0000895419-12-000068`
Period End Date	20120930
Filing Date	20121017
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	cree-20120923.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 36 Cash Flow Statement 58 Comprehensive Income 14

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$390.60M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$139.17M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$163.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$178.88M	USD	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$565.63M	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$652.43M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total cash, cash equivalents, and short-term investments	`CashCashEquivalentsAndShortTermInvestments`	$816.28M	USD	Point-in-time
Total cash, cash equivalents, and short-term investments	`CashCashEquivalentsAndShortTermInvestments`	$744.51M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$162.29M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$152.26M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	116.28M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	115.91M	shares	Point-in-time
Inventories	`InventoryNet`	$179.68M	USD	Point-in-time
Inventories	`InventoryNet`	$188.85M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$21.74M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	115.91M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$21.77M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	116.28M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$56.92M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$60.22M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.16B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.24B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$566.14M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$582.46M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$376.07M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$371.99M	USD	Point-in-time
Goodwill	`Goodwill`	$616.35M	USD	Point-in-time
Goodwill	`Goodwill`	$616.35M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.34M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.92M	USD	Point-in-time
Total assets	`Assets`	$2.80B	USD	Point-in-time
Total assets	`Assets`	$2.75B	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTradeCurrent`	$87.52M	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTradeCurrent`	$78.87M	USD	Point-in-time
Accrued salaries and wages	`EmployeeRelatedLiabilitiesCurrent`	$37.36M	USD	Point-in-time
Accrued salaries and wages	`EmployeeRelatedLiabilitiesCurrent`	$29.84M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$9.65M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$3.83M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$40.42M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$36.63M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$174.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$149.18M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$15.72M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$15.61M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$22.70M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$20.00M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$35.71M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$38.30M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $0.01; 3000 shares authorized at September 23, 2012 and June 24, 2012; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.01; 3000 shares authorized at September 23, 2012 and June 24, 2012; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.00125; 200,000 shares authorized at September 23, 2012 and June 24, 2012; 116,280 and 115,906 shares issued and outstanding at September 23, 2012 and June 24, 2012, respectively	`CommonStockValue`	$144.00K	USD	Point-in-time
Common stock, par value $0.00125; 200,000 shares authorized at September 23, 2012 and June 24, 2012; 116,280 and 115,906 shares issued and outstanding at September 23, 2012 and June 24, 2012, respectively	`CommonStockValue`	$144.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$1.88B	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$1.86B	USD	Point-in-time
Accumulated other comprehensive income, net of taxes	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$11.85M	USD	Point-in-time
Accumulated other comprehensive income, net of taxes	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$11.13M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$703.36M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$687.24M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$2.59B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$2.56B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$2.75B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$2.80B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenue, net	`SalesRevenueGoodsNet`	$268.98M	USD	1 Quarter
Revenue, net	`SalesRevenueGoodsNet`	$315.75M	USD	1 Quarter
Cost of revenue, net	`CostOfGoodsSold`	$199.70M	USD	1 Quarter
Cost of revenue, net	`CostOfGoodsSold`	$170.95M	USD	1 Quarter
Gross Profit	`GrossProfit`	$116.05M	USD	1 Quarter
Gross Profit	`GrossProfit`	$98.03M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$37.55M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$34.40M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$52.65M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$45.54M	USD	1 Quarter
Amortization of acquisition related intangibles	`AmortizationOfAcquisitionCosts`	$3.92M	USD	1 Quarter
Amortization of acquisition related intangibles	`AmortizationOfAcquisitionCosts`	$7.67M	USD	1 Quarter
Loss on disposal or impairment of long-lived assets	`GainLossOnDispositionOfProperty`	$-775.00K	USD	1 Quarter
Loss on disposal or impairment of long-lived assets	`GainLossOnDispositionOfProperty`	$-898.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$84.64M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$98.76M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$17.29M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$13.39M	USD	1 Quarter
Other non-operating income, net	`OtherNonoperatingIncomeExpense`	$974.00K	USD	1 Quarter
Other non-operating income, net	`OtherNonoperatingIncomeExpense`	$1.59M	USD	1 Quarter
Interest income, net	`InvestmentIncomeNet`	$1.97M	USD	1 Quarter
Interest income, net	`InvestmentIncomeNet`	$1.79M	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$16.33M	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$20.67M	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$3.51M	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$4.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$12.82M	USD	1 Quarter
Basic net income per share	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Basic net income per share	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Diluted net income per share	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Diluted net income per share	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	115.54M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	111.87M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	112.54M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	115.96M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$16.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$12.82M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$36.47M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$32.13M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$12.48M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$11.44M	USD	1 Quarter
Excess tax benefit from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$261.00K	USD	1 Quarter
Excess tax benefit from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$42.00K	USD	1 Quarter
Loss on disposal or impairment of long-lived assets	`GainLossOnDispositionOfProperty`	$-775.00K	USD	1 Quarter
Loss on disposal or impairment of long-lived assets	`GainLossOnDispositionOfProperty`	$-898.00K	USD	1 Quarter
Amortization of premium/discount on investments	`InvestmentIncomeNetAmortizationOfDiscountAndPremium`	$-2.26M	USD	1 Quarter
Amortization of premium/discount on investments	`InvestmentIncomeNetAmortizationOfDiscountAndPremium`	$-1.92M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.05M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$21.73M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-9.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-12.43M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.03M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.81M	USD	1 Quarter
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$9.68M	USD	1 Quarter
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$-13.71M	USD	1 Quarter
Accrued salaries and wages and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$4.01M	USD	1 Quarter
Accrued salaries and wages and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$11.89M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$85.69M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$41.65M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$33.96M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.60M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$80.87M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$179.60M	USD	1 Quarter
Proceeds from maturities of investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$78.50M	USD	1 Quarter
Proceeds from maturities of investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$42.59M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$47.00K	USD	1 Quarter
Proceeds from sale of available-for-sale investments	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$236.52M	USD	1 Quarter
Proceeds from sale of available-for-sale investments	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$12.89M	USD	1 Quarter
Purchase of Ruud Lighting, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$456.01M	USD	1 Quarter
Purchase of Ruud Lighting, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Purchases of patent and licensing rights	`PaymentsToAcquireIntangibleAssets`	$4.16M	USD	1 Quarter
Purchases of patent and licensing rights	`PaymentsToAcquireIntangibleAssets`	$5.55M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-295.89M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-106.31M	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.09M	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$5.29M	USD	1 Quarter
Excess tax benefit from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$261.00K	USD	1 Quarter
Excess tax benefit from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$42.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.33M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.35M	USD	1 Quarter
Effects of foreign exchange changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$468.00K	USD	1 Quarter
Effects of foreign exchange changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$262.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-251.43M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-15.03M	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$390.60M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$139.17M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$163.85M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$178.88M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$390.60M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$139.17M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$163.85M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$178.88M	USD	Point-in-time

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Other Comprehensive Income (Loss), Foreign Currency Translation Gain (Loss) Arising During Period, Tax	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$197.00K	USD	1 Quarter
Other Comprehensive Income (Loss), Foreign Currency Translation Gain (Loss) Arising During Period, Tax	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$110.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$12.82M	USD	1 Quarter
Other Comprehensive Income (Loss), Available-for-sale Securities, Tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$323.00K	USD	1 Quarter
Other Comprehensive Income (Loss), Available-for-sale Securities, Tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$-661.00K	USD	1 Quarter
Currency translation gain, net of tax expense of $110 and $197, respectively	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$323.00K	USD	1 Quarter
Currency translation gain, net of tax expense of $110 and $197, respectively	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$182.00K	USD	1 Quarter
Net unrealized gain (loss) on available-for-sale securities, net of tax (expense) benefit of ($323) and $661, respectively	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-1.09M	USD	1 Quarter
Net unrealized gain (loss) on available-for-sale securities, net of tax (expense) benefit of ($323) and $661, respectively	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$533.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-769.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$715.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$12.05M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$16.84M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.