Summary
Credo Technology Group Holding Ltd (CRDO) announced its financial results for the fiscal year ended April 30, 2022, via a press release filed on June 1, 2022. While the specific financial figures are detailed in the furnished press release (Exhibit 99.1), this filing primarily serves to report the results. Investors should refer to the press release for comprehensive details on revenue, profitability, and other key performance indicators for the fiscal year. Furthermore, the company's Board of Directors approved a significant change to its fiscal year structure, effective in fiscal year 2023. Credo Technology will transition from a standard calendar month-end accounting period to a 4-4-5 week quarterly accounting period, resulting in a 52-week fiscal year. This change aims to standardize quarterly reporting periods, with each quarter comprising 13 weeks. The new fiscal quarters will end on July 30, October 29, January 28, and April 29.
Key Highlights
- 1Credo Technology Group Holding Ltd (CRDO) reported its financial results for the fiscal year ended April 30, 2022.
- 2The financial results were announced via a press release filed as Exhibit 99.1 to the 8-K.
- 3The company has changed its fiscal year accounting period to a 4-4-5 week structure.
- 4This new structure will result in 52-week fiscal years, with each quarter consisting of 13 weeks.
- 5The change in fiscal year structure will commence in the first quarter of fiscal year 2023.
- 6The new fiscal quarter end dates will be July 30, October 29, January 28, and April 29.
- 7The company's fiscal year will continue to end in April.