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More on Cree's FQ2 report: The company expects FQ3 revenue of $290M-$310M and EPS of...

More on Cree's FQ2 report: The company expects FQ3 revenue of $290M-$310M and EPS of $0.18-$0.25, below a consensus of $321.4M and $0.30. Its gross margin was 35.3%, down 210 bps Q/Q and 1240 bps Y/Y. SG&A expenses rose 47% Y/Y (boosted by the Rund acquisition), far outpacing revenue growth of 18%. CREE -4.9% AH. Also lower: AIXG -0.9%. VECO -2.2%. (PR)
Comments (2)
  • John Rayhall
    , contributor
    Comments (89) | Send Message
     
    I feel like they haven't had a good quarter in years. Prob see them under 20 soon.
    17 Jan 2012, 04:28 PM Reply Like
  • Chris Lau
    , contributor
    Comments (1624) | Send Message
     
    Margins dropped from 47.7% a year earlier to 35.3%. The CEO can say that “our results demonstrate that our strategy is working” but they are unable to control the macro story or to convert on to the consumer side of the LED business...an area that isn't seeing growth.

     

    Who will buy a bulb for $30 or more at (HD) ?
    17 Jan 2012, 04:52 PM Reply Like
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