Wolfspeed, Inc.

Ladies and gentlemen, thank you for standing by, and welcome to the CREE Fiscal Year 2020 First Quarter Earnings Conference Call. At this time, all participant lines are on a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star, then 1 on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star, then 0. I would now like to hand the conference over to your speaker today, Mr. Tyler Gronbach. Vice President of Investor Relations. Please go ahead, sir.

Thank you, Liz, and good afternoon, everyone. Welcome to Cree's first quarter fiscal 2020 conference call. Today, Cree's CEO, Greg Lowe, and Cree's CFO, Neil Reynolds, will report on the results for the first quarter of fiscal year 2020. Please note that we will be presenting non-GAAP financial results during today's call, which is consistent with how management measures Cree's results internally. Non-GAAP results are not in accordance with GAAP and may not be comparable to non-GAAP information provided by other companies. Non-GAAP information should be considered a supplement to and not a substitute for financial statements prepared in accordance with GAAP. A reconciliation to the most directly comparable GAAP measures is in our press release and posted in the investor relations section of our website, along with a historical summary of other key metrics. Today's discussion includes forward-looking statements about our business outlook, and we may make other forward-looking statements during the call. Such forward-looking statements are subject to numerous risks and uncertainties. Our press release today and the SEC filings noted in the release mention important factors that could cause actual results to differ materially. During the Q&A session, we would ask that you limit yourself to one question and one follow-up, so that we can accommodate as many questions as possible during today's call. If you have any additional questions, please feel free to contact us after the call. And now I'd like to turn the call over to Greg. Thanks, Tyler, and good afternoon, everyone.

Cree's strategic transformation remains on track. We're extremely excited about the future of our business and the opportunities ahead as the adoption of silicon carbide across multiple sectors continues to grow. In the fiscal first quarter, we delivered results that met or exceeded the upper end of the ranges we set for revenue, gross margin, and EPS. We continue to see strong momentum and growing interest in our silicon carbide and GaN technologies. As we've said on previous earnings calls, we continue to confront some headwinds related to geopolitical and macroeconomic issues. We don't expect this to change in the near term. However, our team's experience with managing through various cycles and their track record of growing businesses over the long term will help us navigate through this period. Our singular focus remains on positioning Cree to compete and win for the exciting opportunities we see in front of us. I'll now turn it over to Neil to provide some additional color on the financial results and the outlook for next quarter.