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Cree Stock Slides in After-Hours Trading on Q4 Earnings Miss

NEW YORK (TheStreet) -- Shares of Cree (CREE) were sliding 6.08% to $25.81 in after-hours trading on Tuesday after the company posted lower-than-expected earnings for the 2016 fiscal fourth quarter and full year.

The Durham, NC-based LED manufacturer reported adjusted earnings of 19 cents per diluted share, below analysts' estimates of 20 cents per share. During the same quarter last year, the company posted a loss of 19 cents per share.

Revenue rose 2% to $388.4 million year-over-year and was higher than Wall Street's forecasts of $385.8 million.

For the full fiscal year, Cree earned 86 cents per diluted share...