US-based LED firm Cree reported US$348.9 million in revenues for the third quarter of its fiscal year 2013, ended March 31, 2013. The figure showed an on-quarter increase of 1% and an on-year increase of 23%.
Cree noted that third-quarter gross margin was 38.1%. The firm saw net profits reach US$22.2 million, a 134% increase on-year compared to US$9.5 million in third-quarter 2012.
Cree provided its business outlook for its fourth quarter of fiscal 2013 ending June 30, 2013, targeting revenues in a range of US$365-385 million with gross margin targeted to be around 39.0%. Cree added that net income in the fourth quarter is targeted at US$25-31 million.
Cree introduced warm white 40W and 60W replacement light bulbs with retail prices of only US$9.97/unit and US$12.97/unit, respectively, on March 5.
