Cree LED revenue for 3Q was weaker than expected

Affected from LED chip sales in the backlighting market decline, Cree’s revenue for 3Q was about $268.4 million, up 59% compared to the same quarter in 2009 and increasing 1.5% sequentially, but the result was weaker than expected before.

Cree’s LED chip sales down almost 20% result from weakness in notebook and monitor backlighting demand.Before that, analysts thought the company’s revenues for 3Q would reach $278 million. But the true amount was weaker than expected to $268.4 million.

A leader of Cree noted that although total revenue was lower than their before target due to a decline in LED chips, LED lighting adoption continued to gain momentum and the growth drivers for the company remain on track.

Also, GAAP net income for 3Q increased to $58.0 million up 176% or $0.53 per diluted share, compared for 3Q in 2009.

For in 4Q10, it is expected the company‘s revenues were about $270-280 million.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

The recent outbreak of COVID-19 has prompted the large-scale search for practical solutions that can prevent the spread of the deadly virus — from researchers and scientists committed to finding a solution, to the manufacturers and consu... READ MORE

Nichia’s Tunable 757 receives rave reviews from industry leaders, including the coveted LpS Best Sustainability Technology Award. Nichia, the leader in and inventor of the high-brightness LED, announced its game-changing single LES, tuna... READ MORE