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Discontinued Operations
12 Months Ended
Jun. 26, 2011
Discontinued Operations  
Discontinued Operations

Note 8 - Discontinued Operations

During fiscal 2006, the Company discontinued the operations of its silicon-based RF and microwave semiconductor business conducted by its Cree Microwave subsidiary, located in Sunnyvale, California. Accordingly, the Company reported the operating results for the Cree Microwave silicon-based RF and microwave business for the years ended June 29, 2008, June 24, 2007 and June 25, 2006, and the related assets and liabilities on the Consolidated Balance Sheets at June 29, 2008 and June 24, 2007 as a discontinued operation.

During the fourth quarter of fiscal 2009 the Company negotiated the termination of its operating lease associated with the Sunnyvale facility. The Company had remained liable for the operating lease expenses of the Sunnyvale facility through November 2011. The termination resulted in a one-time net after-tax loss, which is included in the net loss from discontinued operations in the accompanying fiscal 2009 financial statements.