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· RIP 1959-2015
39,532 Posts
Their sales must be down for them to say that,but is the competition nailing them , or is there a slowdown in sales for LEDs.


By Michael Calia
Cree Inc.'s CREE +1.25% fiscal first-quarter profit grew 89% as the maker of LED lighting products and semiconductor components posted higher revenue and margins.

But shares dropped 14% after hours, to $64.04, after the company predicted weaker-than-expected earnings for its second quarter. As of Tuesday's close, shares have more than doubled so far this year.

For the second quarter, the company expects an adjusted per-share profit of 36 cents to 41 cents, with $400 million to $420 million in revenue. Analysts polled by Thomson Reuters were projecting earnings of 44 cents on revenue of $414 million.

For the quarter ended Sept. 29, the company reported a profit of $30.5 million, or 25 cents a share, up from $16.1 million, or 14 cents a share, a year earlier. Excluding items, earnings rose to 39 cents from 27 cents.

Revenue was up 24%, to $391 million.

The company in August said it expected an adjusted per-share profit of 36 cents to 41 cents, with $380 million to $400 million in revenue.

Gross margin widened to 38.6% from 36.8%.

Operating expenses rose 12%.

Revenue from LED products grew 16% in the latest quarter, while lighting-products revenue was up 37%. Power and RF products revenue was up 24%.

Write to Michael Calia at [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

· Jesus Scott
9,352 Posts
What did you use as replacements? A different LED product or good ole incandescent?
More cree. :laughing: That didn't work so I just installed a Phillips to see what that does for me.

These are retrofits I'm talking about and the more guys I talk to I'm finding they are dealing with the same crap. Oddly enough, the ones that have been bulletproof are the Ecosmarts from Home Depot.

I've used hundreds of TCP lamps as a replacement for 65BR30 incandescents with success.
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