What are your goals, not strategies, for the next few years?
The manufacturer is affirming above-consensus FY 2022 earnings guidance as it forecasts double-digit sales growth despite supply chain constraints.
Fewer Americans applied for unemployment benefits last week following three straight increases amid a surge in cases of the omicron variant.
The economy ended the year by growing at an unexpectedly brisk 6.9% annual pace from October through December as businesses replenished their inventories.
Chair Jerome Powell said raising the Fed’s benchmark rate will help prevent high prices from becoming entrenched.
The 1Q Outlook will be available on Friday, January 28.
Restoring Darkness: Darkness Restoration and Preservation
The Get A Grip On Lighting hosts debate why lighting distributors are not seeing the profitability opportunities in darkness restoration.
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Greg Ehrich, LC is the former President of the National Association of Innovative Lighting Distributors (NAILD) and owner of Premier Lighting, a progressive lighting distributorship.
Michael Colligan is an entrepreneur and inventor. He’s a subject matter expert in commercial and industrial lighting supply, lighting retrofits, and finding recycling streams for hard-to-recycle waste.
The Get A Grip On Lighting “Restoring Darkness” podcast on lightED is sponsored by Evluma.
If you want to watch more Get A Grip On Lighting podcasts, you can go to www.getagriponlighting.com.
Wolfspeed Reports 2Q Financial Results
DURHAM, N.C. — Wolfspeed, Inc., formerly known as Cree, Inc., today announced revenue of $173.1 million for its second quarter of fiscal 2022, ended December 26, 2021. This represents a 36% increase compared to revenue from continuing operations of $127.0 million reported for the second quarter of fiscal 2021, and a 11% increase compared to the first quarter of fiscal 2022. GAAP net loss from continuing operations for the second quarter of fiscal 2022 was $96.7 million, or $0.82 per diluted share, compared to GAAP net loss from continuing operations of $54.3 million, or $0.49 per diluted share, for the second quarter of fiscal 2021. On a non-GAAP basis, net loss from continuing operations for the second quarter of fiscal 2022 was $18.6 million, or $0.16 per diluted share, compared to non-GAAP net loss from continuing operations for the second quarter of fiscal 2021 of $26.6 million, or $0.24 per diluted share.
“We delivered strong revenue at the high end of our guidance during the quarter, our sixth straight quarter of revenue growth, further validating our positioning to capture accelerating demand. The team is successfully growing and converting opportunities in our device pipeline,” said Wolfspeed Chief Executive Officer, Gregg Lowe. “We are excited about our long-term outlook and we are confident in our strategy and path forward.”
Business Outlook:
For its third quarter of fiscal 2022, Wolfspeed targets revenue in a range of $185 million to $195 million. GAAP net loss is targeted at $66 million to $71 million, or $0.53 to $0.57 per diluted share. Non-GAAP net loss is targeted to be in a range of $15 million to $20 million, or $0.12 to $0.16 per diluted share. Targeted non-GAAP net loss excludes $51 million of estimated expenses, net of tax, related to stock-based compensation expense, amortization or impairment of acquisition-related intangibles, factory optimization restructuring and start-up costs, interest income from transaction-related note receivable and project, transformation, transaction and transition costs
Shat-R-Shield Rebrands to Shat·R·Shield Lighting
Shat-R-Shield, Inc. has officially changed its name to Shat·R·Shield Lighting Inc. The new name reflects the company’s position as a manufacturer of LED light fixtures.
“Initially we provided safety lighting for a broad spectrum of industries,” says Bob Nolan, CEO of the Salisbury, North Carolina-based company. “Since then, our business has shifted from shatter-resistant traditional lighting to market specific LED fixtures.”
Shat·R·Shield designs and builds its own specialized LED fixtures for corrosive applications and food processing. Recently the company created a new line of rugged vandal resistant lighting for public and commercial area, dormitories, and parks as well as maximum and minimum security facilities and behavioral institutions.
“The new name, Shat·R·Shield Lighting, has an all-encompassing meaning for our company.”
DDI System Hosts Panel Discussion
Outshine the Competition:
Take Your Lighting Showroom to Another Level
Thursday, February 3rd 1:00 PM ET
Join DDI System for a 45-minute interactive panel discussion with industry experts as they provide insight into the driving factors behind lighting showroom distribution success, and the top business software features and integrations that are designed to get you there.
Interact with Industry Experts: Learn more about the technology driving operational success for lighting showroom distributors. The moderated discussion will encourage participation from the audience, with an opportunity to get your questions answered live during the discussion.
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