LED plant Cree profit this quarter, after a sharp rise

Light emitting diode (LED) upstream of grain manufacturing maker CREE (CREE, Inc.) in 26, the U.S. stock market announced after the close of the third quarter of fiscal year 2016 (ending March 27, 2016) earnings: revenue reduction from 10% to 367 million U.S. dollars; non GAAP gross profit rate (Non-GAAP) from 31.3% a year ago to 30.6%; Non-GAAP diluted share surplus by 23% to $0.17. According to Capital IQ survey, analysts had expected Cree third quarter revenue, Non-GAAP diluted earnings per share of $367 million, $0.14.

The prospect of the season (as of June 26, 2016), Cree revenues are expected to reach 3.70-3.95 billion (median value was $382 million 500 thousand, equivalent to a quarter by 4.2%), Non-GAAP gross margin of about 31.5%, Non-GAAP per share diluted earnings estimates will reach $0.16-0.22 (median $0.19). Analysts had expected Cree revenue this quarter, the industry earnings per share for $391 million each, $0.19.

Cree third quarter inventory amount increased by $18 million to $298 million, equivalent to 104 days of inventory.

Cree26 day in the normal disk rose 1.65% to close at $24.59, the disk up $25.40 to $3.29%. Cree share price of 27 U.S. dollars to sit close to $25.40, will hit a new high since April 5th.

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