Lighting Understanding for a More Efficient Nation

Forbes: Cree Has Bright Future On LED Demand Growth

Forbes: Cree Has Bright Future On LED Demand Growth

Cree, a leading LED manufacturer, announced its Q3 2013 earnings on April 23. Though seasonal factors restricted its sequential growth, the company witnessed a 23% annual increase in revenues to $349 million.

Strong growth in lighting products and its ability to reduce the per lumen LED cost led to higher LED adoption despite the slow macro environment. Improving factory utilization, process improvements and new lower-cost product designs increased Cree’s gross margin to 38.1%, compared to 34.9% in Q3 2012. Additionally, a strong execution and focused capital spending increased its cash and cash equivalent by more than $50 million in the quarter.

Click here to continue reading this article…