Cree has announced revenue of $405.3 million for its third quarter of the 2014 financial year, ended March 30, 2014.
This represents a 16 per cent increase compared to revenue of $348.9 million reported for the same time last year. Quarterly net income for the third quarter was $28.2 million, an increase of 27 per cent year on year.
“Fiscal Q3 was a solid quarter as revenue and operating income were in line with our target range and the business is well positioned to grow in fiscal Q4,” said Chuck Swoboda, Cree chairman and CEO. “These results once again demonstrate our ability to deliver strong operating results while continuing to make longer term investments in new technology and building the Cree brand.”
For its fourth quarter of the 2014 financial year, ending June 29, 2014, Cree has targeted revenue in a range of $430 million to $460 million.
