Consolidated statements of income

CREE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share amounts and percentages)
(unaudited)
Three Months Ended
June 30,
June 24,
2013
2012
Revenue, net
Cost of revenue, net
Gross profit
Gross margin percentage
$
375,009
234,284
140,725
37.5%
$
306,759
199,856
106,903
34.8%
Year Ended
June 30,
June 24,
2013
2012
$
1,385,982
862,722
523,260
37.8%
$
1,164,658
755,196
409,462
35.2%
Operating expenses:
Research and development
Sales, general and administrative
Amortization of acquisition-related intangibles
39,365
61,696
7,715
36,921
52,303
7,614
155,889
236,581
30,823
143,357
197,092
26,274
Loss on disposal or impairment of long-lived
assets
Total operating expenses
1,088
109,864
1,393
98,231
3,473
426,766
3,481
370,204
Operating income
Operating income percentage
30,861
8.2%
Other non-operating income, net
Income from operations before income taxes
Income tax expense
Net income
$
2,685
33,546
5,304
28,242
Diluted earnings per share
$
0.23
Shares used in diluted per share calculation
121,081
5
8,672
2.8%
$
1,574
10,246
220
10,026
$
0.09
116,243
96,494
7.0%
39,258
3.4%
$
11,063
107,557
20,632
86,925
$
8,389
47,647
3,235
44,412
$
0.74
$
0.39
117,979
115,225
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