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Cree Reports Record Revenues for Q2 of Fiscal Year 2004
Jan 19, 2004
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Cree, Inc., based in Durham, NC, U.S., has reported revenue for its second quarter of fiscal year 2004 of U.S. $72,684,000, a 28 percent increase from the $56,727,000 reported in the comparable quarter in fiscal 2003. Net income for the second quarter increased 45 percent to $13,007,000, or $0.17 per diluted share, compared to $8,996,000, or $0.12 per diluted share, as reported for the second quarter of fiscal 2003. Overall gross margin for the second quarter increased to 47 percent of revenue as compared to 43 percent reported in the first quarter of fiscal 2004, while net margin increased to 18 percent of revenue.

For the six-month period ended Dec. 28, 2003, Cree, an advanced semiconductor company, reported revenue of U.S. $138,895,000, an increase of 32 percent from the $105,539,000 reported for the comparable period in fiscal year 2003. Net income for the 6-month period increased 70 percent to $21,886,000, or $0.29 per diluted share, compared to $12,879,000, or $0.17 per share, in the year ago period.

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