Cree announced fiscal year 2008 Q3 earnings, revenue increased by nearly 4 in the year, but by the impact of the acquisition of LLF profit decline

The United States LED CREE (Nasdaq: CREE) companies recently released the 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 a lot of growth.

Profit is because the quarter completed the acquisition of American LED giant LLF (LED Lighting Fixtures, Inc.), 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 EPS $0.27 profit decline of many, 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 chief executive officer Chuck Swoboda pointed out that the company's strategy is to continue to focus on LED lighting products, its earnings performance in line with Cree previously expected level. He stressed that the quarter's revenue growth benefited from LED module components selling, the first time its sales exceeded the company's LED chip products. On the other hand, the quarter Cree completed an important acquisition, that is, LED Lighting Fixtures, allowing Cree to improve visibility in the LED lighting market.

Looking forward to the next quarter, Chuck Swoboda said Cree will target on XLamp LED, high brightness LED modules with the 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 city lighting project Cree has been advocated by the United States of Dezhou city Austin, Tianjin Economic Development Zone China (TEDA)) introduction, is expected to have more city to join the LED city lighting project. Among them, the city of Austin to create LED urban lighting plan, including the promotion of the city in the texture of the LED lighting and LED lighting applications for the provision of 3 subsidy. China's Economic Development Zone in Tianjin, Tianjin University of Technology, together with China to promote LED lighting.

Source: LEDinside