Cree Announces Record Contract with Osram
Durham, NC. Cree, Inc., (Nasdaq: CREE) today announced that it has renewed its one-year purchase agreement with Osram Opto Semiconductors GmbH & Co., OHG (Osram) for standard brightness, high brightness, UltraBright(tm), and MegaBright(tm) silicon carbide light emitting diodes (LEDs) and wafer products. The new agreement is the largest sales contract signed in Cree s history.
Chuck Swoboda, Cree s President and CEO commented, "The Cree and Osram relationship continues to grow as we are able to build on the benefits of SiC and GaN-based LEDs in the marketplace. As we continue to develop our LED technology and introduce increased brightness levels while improving price/performance, we believe that we will be able to continue to penetrate new and emerging applications."
North Carolina-based Cree, Inc. develops and manufactures semiconductor materials and devices based on silicon carbide (SiC), gallium nitride (GaN) and related compounds. The company s products include blue, green and UV LEDs, RF power transistors for use in wireless infrastructure applications, Schottky diodes for power conditioning and switching, SiC crystals used in the production of unique gemstones and SiC wafers sold for use in production and in research and development. Cree has new product initiatives based on its experience in SiC and GaN-based semiconductors, including blue laser diodes for optical storage applications, high frequency microwave devices for radar and other communications systems. For more information on Cree, visit http://www.cree.com.
This press release contains forward-looking statements involving risks and uncertainties that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the possibility we may be unable to manufacture the volume of products required to fulfill contracted demand in a timely manner due to technological or manufacturing difficulties, the risk that demand for our products may decrease and the ability of Osram to delay shipment of products into future periods, as well as other factors discussed in Cree s report on Form 10-K for the year ended June 24,2001 filed with the Securities and Exchange Commission.
Contact: Fran Barsky Investor Relations Manager Cree, Inc. Tel: 919-313-5397 Fax: 919-313-5452
Fran BarskyInvestor Relations Manager Cree, Inc.
Tel: 919-313-5397
Fax: 919-313-5452
Web site: http://www.cree.com
