Career's fiscal year 2014 Q1 revenue of 391 million US dollars increased 24% annually

On October 22, Cree announced the first quarter of fiscal year 2014 (July-September 2013) earnings report: revenue increased 24% (4% quarter-on-quarter) to a record 391 million US dollars; 37.5% of the same period last year rose to 39.2%; the operating profit ratio of the industry rose from 11.9% to 15.0%; the diluted earnings per share of the industry increased by 44% to $0.39.

According to FactSet's survey, analysts originally estimated Cree's July-September revenue, the company's diluted earnings per share were $ 392.1 million, $ 0.39. This is Cree's eighth consecutive quarterly revenue with double-digit annual growth transcripts.

According to Chuck Swoboda, Chairman and CEO of Cree, the outstanding performance is mainly due to the sales of lighting products, higher gross margins and better operational leverage in business activities. In the second quarter of fiscal 2014 (ending December 29, 2013), Cree plans to achieve revenue targets of $400 million to $420 million.

Looking forward to this quarter (October-December), Cree expects revenue to reach US$4.00-4.20 billion (intermediate value of US$410 million, equivalent to a 4.9% increase in the quarter). The industry's earnings per share is estimated to be US$0.36-0.41. (The median is $0.385). According to FactSet's survey, analysts originally estimated that Cree's revenue per share for the quarter was $413.8 million and $0.44 each.

According to Barron Blog, a professional financial weekly, Canaccord Genuity analyst Jonathan Dorsheimer pointed out that the tight production capacity of the lighting industry may be the main reason for Cree's revenue outlook to be worse than expected.

Cree pointed out that from July to September, LED products and lighting products revenue increased by 16% and 37% respectively; revenue accounted for 56% and 38% respectively (note: 60% and 34% respectively a year ago).

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