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Your position:Home > News > Industry News > LED leading CREE, Q3 less than.....

LED leading CREE, Q3 less than expected revenue, promising Q4

  • Author:Eunice
  • Source:net
  • Release on :2016-04-07
         Shenzhen Risen OPTO CO.,Ltd,led flood light supplier,Aluminum Alloy Flood Light Manufacturers,waterproof led lamps supplier china.
         Maker Cree light-emitting diode (LED) upstream of grain, Inc. cut the season 3 property test, claiming that products delay problems may make revenue than expected, news came shock Cree after hours stock prices tumbled more than 18%!
Measure released after hours of Cree 5 financial news release, the third quarter (January March 2016) revenue forecast will only reach $367 million, than the previous estimate of 4.00-4.30 billion dollars mainly affected by the decline in revenue of lighting products. In addition, the industry is earnings per share will be between $0.13-0.15, as the previous forecast of $0.22-0.29.
         According to the capital IQ survey, analysts had forecast the company Q3 revenue, industry earnings per share will reach 4.1480 billion U. S. dollars, and 0.24 dollars.
Cree pointed out that the new product has been delayed, 1-3 months market than the company expected difference, and enterprise resource planning (ERP) system conversion interferes with the customer service, let the lighting products Q3 revenue reached only $1.87 billion, lower than the company's internal original estimate.
         However, Cree, chairman and chief executive chuck Swoboda stressed that drag operation is the most basic problem should have been solved, although now put forward specific target is too soon, but commercial lighting orders have been in March to gradually improve, coupled with new product demand should provide good growth momentum for the quarter (Q4).
         According to the barron`s.com 5 reported on. Cree is also important company announcements (8-K filing) announced, lighting business chief Norbert Hiller has officially resigned, by David Elein temporarily position.
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