LED Lighting company Cree stock tumbles

LED Lighting company Cree stock tumbles

 

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First quarter earnings are down, and investors are not happy. Cree reported first quarter earning are down, and revenue is also down. Analysts fear Cree could see more downside in the future. Revenue fell 13% to $371 million. In Cree’s first quarter report Chuck Swoboda, Cree Chairman and CEO. stated “We delivered solid results in fiscal Q1, as Lighting, LED Products and Wolfspeed all achieved revenue and gross margins that were in line with our targets,” “We continue to make progress with our transition to a more focused LED lighting company and building a more valuable business by bringing better light to our customers.”

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  1. Chuck Bennett :

    I sold some of the very first LR-6 lamps, having had a presentation of them when Cree had some of it’s people leave to form a company called LLF, under Neal Hunter. Since that time Cree has been an incredible company, with great leadership and even greater lighting. I felt that when Cree dipped it’s toes into the Home Depot type market, their name recognition had a different connotation.

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