Robust sales of LEDs and lighting products has seen Cree’s revenue leap by 14 per cent for its second quarter, when compared to the same period the previous year.
The LED manufacturer has announced revenue of $346.3 million (£218.2 million) for the quarter, ended 30 December 2012, up from $304.1 million (£191.7 million) for the same period in the previous year.
Cree’s results also reveal a 10 per cent increase in revenue when compared to the first quarter.
Chuck Swoboda, Cree chairman and CEO said the company had experienced: “record revenue and earnings per share that were higher than our target range due to stronger sales in both LEDs and lighting combined with improved gross margins.”
For its third quarter of fiscal 2013 ending 31 March 2013, Cree forecasts revenue in the range of $325 million (£204.9 million) to $345 million (£217.5 million)
The CEO added: “Overall company backlog is in line with seasonal trends for our fiscal third quarter. We see opportunities to move the market even faster than what has been experienced to date.”
