Cree, Inc. (NASDAQ: CREE) announced that its first quarter of FY18 (as of September 24, 2017) had revenues of $360 million, including LED products (including LED chips, LED devices, etc.), Wolfspeed ( Revenues from three businesses, including power devices and RF, and lighting products. This financial performance is in line with the company's overall revenue expectation.
In the first quarter of FY18, LED products (including LED chips, LED devices, etc.) generated revenue of US$144,520,000, which is an increase of 5 compared with the first quarter of FY2017 LED product revenue of US$137,493,000. %.
In the first quarter of FY18, Wolfspeed's operating income was $66,154,000, which is a 33% increase from the first quarter of fiscal 2017, Wolfspeed operating income of $49,902,000.
Mr. Gregg Lowe, the new CEO of Cree, Inc., said: “Creek is a company known for its innovation. It has been developing and innovating over the years. I am very happy to be part of this team. There are many opportunities now. And the challenge is in front of us, and I look forward to working with our team of excellence to maximize these opportunities while solving those challenges."
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