Cree raises quarterly revenue targets
Cree also reiterated its outlook for revenue in the September 2002 quarter of at least a 5% increase over amounts targeted for the three months ending June 2002. These revised revenue targets result from stronger demand for LED products, particularly for wireless handsets. Cree s LED chips are used in a variety of handset designs, including indicator lights and providing a backlight source for keypads and displays.
Chuck Swoboda, CEO and President, stated, "The recent customer demand utilizing our LED products in new blue or white backlight handset designs has been extremely positive. Over the past six months, we have responded to our customer s requirements for improved performance and lower prices to enable these new high volume applications."
