Cree announced 2008 third quarter earnings

The United States LED CREE recently released Dachang 2008 fiscal year third quarter (ended March 30, 2008) earnings, the quarter revenue growth rate of 5%, the annual growth rate is as high as 38%, revenue for the quarter was $125 million, compared to the same period in 2007 of $90 million increased a lot.

Profit is because the quarter completed the acquisition of American LED giant LLF (LED Lighting Fixtures, Inc.) effect, the quarter profit dropped to $5 million 700 thousand EPS, equivalent to $0.06 per share, compared with the same period in 2007 of $21 million 100 thousand and $0.27 in EPS recession many profit dropped by 73%.

Cree gross margin for the quarter was 35%, its cash and investment increased by $36 million 400 thousand compared to the previous quarter, reaching $398 million 300 thousand. Cree chairman and CEO Chuck Swoboda pointed out that the company's strategy is to continue to focus on LED lighting products, the results previously expected level with Cree. He stressed that the quarter's revenue growth benefited from the LED module component selling, its sales exceeded the company's first LED chip products. On the other hand, Cree completed the acquisition of the important quarter, namely LED Lighting Fixtures, can let the Cree in the LED lighting market to improve visibility.

Looking forward to the next quarter, Chuck Swoboda said Cree will focus on XLamp LED, high brightness LED module assembly and new LED lighting solutions, these products can meet the energy saving issue and drive LED lighting demand growth in the. Estimated revenues for the fourth quarter of fiscal year (as of June 30th) fell between $129 million and $~1.33.

Cree acquisition of LLF benefits will be generated in the LED lighting, and can directly provide products to the LED lighting plant, improve the conversion of existing lighting architecture for the strength of energy-saving LED lamps, accelerate the popularity of LED lighting.

On the other hand, LED City Cree city lighting project has been initiated, Dezhou Austin City, Tianjin Economic Development Zone Chinese (TEDA) and other imported, is expected to have more city to join the LED city lighting plan. Among them, the city of Austin to build LED city lighting plan, including the promotion of the city in the texture of the LED lighting and LED lighting applications for the purposes of providing 3 subsidy. China's Economic Development Zone in Tianjin, Tianjin University of Technology, together with China to promote LED lighting.

Source: LEDinside