+44 (0)24 7671 8970
More publications     •     Advertise with us     •     Contact us
 
News Article

Cree sees strong demand for its LEDs

Cree has reported a loss in the final quarter of its financial year, but is raising guidance on the back of strong demand for its LEDs
For its fourth fiscal quarter ending June 30, Cree reported revenues of $37.8 million, a 13% increase over the previous quarter. After writedowns, the net loss for the quarter was $22.5 million.

For the fiscal year ending June 30, 2002, Cree reported revenues totaling $155.4 million. After the amortization of intangibles and costs associated with the downsizing of its silicon high-power LDMOS and HBT subsidiary, Cree Microwave, the net loss for the year was $101.7 million.

Cree is continuing to see strong growth in demand for its LED products. As a result the company raised revenue and earnings guidance for the current first quarter of its 2003 fiscal year. First quarter revenues are now expected to be $45 million, up from the $38.8 million in its initial guidance.

"This has been a challenging year, but we are beginning to recognize the benefits of our investment of 18% of revenue in R&D in fiscal 2002," said Chuck Swoboda, Cree s president and CEO. "Cree has gained market share by creating new technology and solutions for our customers. We re pleased with our recent revenue performance and believe that we are well positioned to deliver a significant increase in LED sales in the first quarter of fiscal 2003."

×
Search the news archive

To close this popup you can press escape or click the close icon.
×
Logo
×
Register - Step 1

You may choose to subscribe to the Compound Semiconductor Magazine, the Compound Semiconductor Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in: