Fortune Magazine Names Cree, Inc. as One of Ten Best Stocks; Cree Ranked Number 11 of 100 Fastest Growing Companies
Source: Cree, Inc.
DURHAM, N.C. Cree, Inc. (Nasdaq: Cree - news), the world leader in the development and manufacture of semiconductor materials and electronic devices made from silicon carbide (SiC), has been ranked number 11 in Fortune s List of the Top 100 Fastest Growing Companies in America. The Company s three year annual revenue and earnings growth were instrumental in achieving this prestigious ranking among America s leading publicly traded growth corporations. In addition to this listing, Fortune compiled a separate list of ten emerging growth companies that they believed possessed the management depth, dynamic products and unlimited market opportunity to become superstocks. Cree was named as one of these ten stocks.
Zacks Investment Research was responsible for compiling the list on behalf of Fortune. The requirements for consideration included that a company must be based in the U.S., have been in operation for three years, and have revenues and a market capitalization of at least $50 million.
F. Neal Hunter, Chairman and CEO commented, ``This honor reflects the hard work and commitment shared throughout our entire organization to exceed the expectations of our customers. Since our founding, two things that continue to make Cree stand apart from our competition is our intensity and focus. These important characteristics have been absolutely essential in developing our ability to perform at such high levels on a consistent basis.
In other news, Cree announced that its blue and green light emitting diodes (LEDs) were incorporated into the two display screens that were featured at the Democratic National Convention held in Los Angeles, California last week. The screens, each measuring 12.6`` x 9.5, incorporate approximately 221,000 blue and green LEDs.
This press release contains forward-looking statements involving risks and uncertainties that may cause actual results to differ materially from those indicated. Actual results could differ materially due to a number of factors, such as the risk demand for our products may decrease; the risk of price reductions or other actions by competitors that may impair sales; the risk we may be unable to successfully commercialize the new products we are working to develop; the risk posed by concentration of our business among a few customers; the risk of intellectual property claims relating to our products, including the risk of an adverse result in currently pending patent litigation; and other factors discussed in our filings with the Securities and Exchange Commission, including our report on Form 10-K for the year ended June 25, 2000.
Cree and the Cree logo are trademarks of Cree, Inc. http://www.cree.com
Web site: http://www.cree.com
