Cree Introduces Green 505 MegaBright(TM) LED
Product Targeted for Traffic Signal Applications
Durham, NC. Cree, Inc. (Nasdaq: CREE) today introduced its newest MegaBright™ light emitting diode (LED) product, the 505 traffic signal green device. This diode exhibits typical brightness of 8 mW, an increase to greater than two times the current UltraBright™ 505 green LED device brightness level. The target applications for the MegaBright green device are traffic signals and consumer products. The company is currently offering evaluation and qualification samples, with volume production targeted for December 2001. The company plans to offer the MegaBright green LED to customers at prices comparable to its other MegaBright products.
Power consumption for a green LED traffic signal is 8-12 watts versus 135-165 watts for an incandescent bulb. Consequently, municipalities and other government organizations are choosing to install LED traffic signals due to reduced energy consumption resulting in lower electricity bills and reduced maintenance costs due to the longer life cycle of LEDs.
Chuck Swoboda, President and CEO stated, By launching our MegaBright 505 green LED device, we believe we are positioned to better serve the traffic signal market. We are actively working on continuing to increase our brightness levels and expand the breadth of LED offerings to enhance our strong leadership position.
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 expertise in SiC and GaN-based semiconductors, including blue laser diodes for optical storage applications, high frequency microwave devices for radar and 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 risk we may encounter delays or other difficulties in ramping up production of the new products, the risk the company will be unable to manufacture the products with sufficiently low cost to offer them at competitive prices or with acceptable margins, the potential lack of customer acceptance of the products; the risk of litigation asserting intellectual property claims; 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 24, 2001.
Cree and the Cree logo, UltraBright and MegaBright are trademarks or registered trademarks of Cree, Inc.
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
