More on Cree's FQ4: Gross margin of 36.3% down 250 bps Y/Y, but up 70 bps Q/Q and above...

|By:, SA News Editor

More on Cree's FQ4: Gross margin of 36.3% down 250 bps Y/Y, but up 70 bps Q/Q and above guidance. FQ1 gross margin expected to be near 37%. Also, accounts receivable and inventories both fell moderately Q/Q, and Cree's cash balance rose by $34M. Opex rose 35% Y/Y (eclipsing revenue growth), in large part because of ramping SG&A expenses as Cree focuses more on selling LED solutions to end-users. CC at 5PM ET (webcast). CREE +2.3% AH. (PR)