Cree smashes quarterly profit record
US-based LED, RF device and substrate manufacturer Cree has again reported record quarterly profit and revenue figures.
In the first fiscal quarter of 2005 revenue was $95.9 million, up $5.1 million sequentially, and a massive 45% higher than for the equivalent quarter last year.
Quarterly profit was $24.4 million, higher than the $20.9 million recorded in the previous quarter, and nearly three times greater than that posted one year ago. LED products again dominated the recent sales breakdown, accounting for 82% of the revenue.
"Our factory continues to improve its efficiency and although we have started the 3-inch conversion for LEDs, we haven t seen the benefit yet. We expect the 3-inch migration to be a more important cost driver over the next several quarters that should enable us to continue to aggressively pursue new business," said Chuck Swoboda, Cree s President and CEO.
Cree s guidance figures for its next quarter indicate a slight rise in revenue to $98-100 million and flat profits.
