Wolfspeed, Inc.

Good day, and thank you for standing by. Welcome to the Cree Inc. Fourth Quarter Fiscal 2021 Conference Call. At this time, all participants are in 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 1 on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star 0. I would now like to hand the conference over to your speaker today, Tyler Gronbach, Vice President of Investor Relations. Please go ahead.

Thank you, and good afternoon, everyone. Welcome to Cree's fourth quarter fiscal 2021 conference call. Today, Cree CEO Greg Lowe and Cree CFO Neil Reynolds will report on the results for the fourth quarter and full year of fiscal year 2021. Please note that we will be presenting non-GAAP financial results during today's call, which is consistent with how management measures CREES 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 gap measures is in our press release and posted on 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, including risks related to the impact of the COVID-19 pandemic. 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. Thanks for joining us today, and I hope you and your families are in good health. I'm pleased to report that during the fourth quarter, we continued to execute and drive our business, delivering strong revenue in line with our guidance and non-GAAP diluted earnings per share at the high end of our guidance range. As we continue our transformational journey, We are excited to officially change the name of our company to Woolspeed in the coming months. This represents a pivotal step in our company history, as we are now a pure play global semiconductor powerhouse, well positioned to lead the industry transition from silicon to silicon carbide. During fiscal 2021, we made formidable progress. We completed the divestiture of our LED business to Smart Global Holdings, We went from moving dirt to installing equipment in the clean room of the world's largest silicon carbide fab in upstate New York, which will begin processing 200 millimeter wafers in the first half of calendar 2022. We also expanded our crystal growth and wafer production capacity on our North Carolina campus. And finally, we quickly adapted to the new operating environment because of the global pandemic. keeping our factories running while at the same time staying connected with customers to convert opportunities in our growing device pipeline. These are just a few of the many important developments that we achieved in the last 12 months as we see an acceleration of the demand for silicon carbide-based solutions across a range of industries. We are at the beginning of a multi-decade secular shift to silicon carbide, and we now believe the demand curves is steeper for devices than we originally expected, further bolstering our confidence in our long-term outlook. The investments we are making today will position us well to capitalize on the tremendous opportunities ahead and firmly establish our industry leadership position. I'll now turn it over to Neil, who will provide an overview of our financial results and an outlook for the first quarter of fiscal 2022. Neil?