News in brief: Cree, Canyon and CyOptics
Cree increases its revenue prediction
LED maker Cree has increased its revenue projection for the current quarter ending December 28, 2003.
As a result of increased demand in the LED business, Cree has raised its revenue target to a range of $72-73 million. Earlier in the quarter the company had announced a target of $70 million.
Cree says that after the first two months of the current quarter, LED demand has exceeded the previous forecast. Furthermore, the company has also experienced improved price stability and operational efficiencies.
Cree s financial results for the quarter will be released on January 15, 2004.
DARPA funds Canyon Semiconductor
Canyon Semiconductor, a fabless start-up developing GaN-based devices for wireless basestation power amplifiers and other applications, has received an SBIR grant from DARPA.
The project entitled “Wide bandgap materials and devices” will focus on advanced device designs to improve heat management in high power microwave and mm-wave devices.
“This selection…represents confirmation of Canyon’s patented device designs,” said Craig Farley, Canyon’s chairman and CEO and a former employee of Emcore. “This project will allow us to meet critical technology needs for key DoD radar systems, while at the same time developing technology that is central to our commercial wireless business.”
CyOptics relocates to Lehigh Valley
CyOptics, a developer and manufacturer of InP-based fiber-optic components, has relocated its headquarters from Waltham, MA to Lehigh Valley, PA.
In March 2003, CyOptics acquired the design, package technology and manufacturing assets of CENiX Inc., an industry leader in the robotic assembly and test of optoelectronic components located in Lehigh Valley, PA.
“This move consolidates our two North American facilities,” said John Pilitsis, president and CEO of CyOptics. “With the acquisition of the CENiX asset we had the opportunity to streamline our infrastructure and operating costs, while locating our business in a geographical region that is rich with design and manufacturing resources.”
