Record LED Wares Revenues of $199.5 Million Achieved by Cree

LED manufacturer Cree Inc., has reported about record revenues of $199.5 million for the second quarter of fiscal 2010, which ended on 27th December, 2009. It means that the revenues grew up by 35% in comparison to $147.6 million revenue for the same time period last year and by 18% compared to revenue for the first quarter.
Chuck Swoboda, Cree chairman and CEO, states that LED lighting is adopted in more and more application fields, so the LED manufacturers focus of expansion of capacities and further development of the technology
The company earned about $182 million for the quarter selling LED products, while the last year LED revenue made $133 million in the same period 2009 and approximately $156 million in the previous quarter.
GAAP net income for the 2nd quarter rose by 216% year-over-year up to $33.8 million, or $0.32 per diluted share, in comparison to GAAP net income of $10.7 million, or $0.12 per diluted share, for the same period last year.
Also, the company has bold plan to gain from $215 million to $225 million with GAAP net income of $37 million to $40 million, or $0.35 to $0.37 per diluted share for its’ third quarter of fiscal 2010, which ends on 28th March, 2010.