LED maker Cree flags another gloomy quarter

Higher customer inventories and pricing pressure forced Cree Inc to cut its third-quarter revenue and margin forecast, signaling another disappointing quarter from the LED maker.

Supply of light-emitting diodes,Starting in 2012, federal law says manufacturers can no longer sell the familiar, 100-watt incandescent bulbs people fluorescent lights have used for years to illuminate the front porch or garage. used to light mobile phones and television screens, has jumped in recent times mainly due to generous subsidies in China. That, along with pricing pressures, have led Cree to post revenue below market expectations in the last two quarters.

Cree shares fell 12 percent to $42.IFC was placed on two-year probation in February following an incident led tube of hazing that occurred after an IFC ceremony in November.92,Existing optical-fiber technology is マジコンds inefficient at transmitting infrared light. However, the zinc selenide optical fibers that Badding's team developed are able to transmit the longer wavelengths of infrared light. "Exploiting these wavelengths is exciting because it represents a step toward making fibers that can serve as infrared lasers," Badding explained. their lowest in more than a year on Wednesday morning on Nasdaq. Shares of smaller rivals Rubicon Technology, Veeco Instruments and Taiwan's SemiLEDs Corp were also hit.IFC was placed on two-year probation in February following an incident led tube of hazing that occurred after an IFC ceremony in November.

"Investors will continue to remain cautious on the stock over the next 2-3 quarters, as we believe Cree needs to show better execution on managing its channel," Piper Jaffray analyst Ahmar Zaman said.

Morningstar analyst Brian Colello said aggressive entry by competitors and weaker-than-anticipated LED television demand have led to the inventory pile up. "They had the worst of both worlds."

Cree forecast January-March revenue of $215-$220 million, compared with its prior view of $245-$265 million. Analysts on average had expected $254.8 million, according to Thomson Reuters I/B/E/S."PEOPLE ARE calling out (to our leaders) for (officials) to be responsible for inflatable swimming pools their misdeeds," declared Manila Auxiliary Bishop Broderick Pabillo in his homily. With the "big fishes" hooked, he added,

"Our customers had more inventory than we had expected," Cree Chief Executive Chuck Swoboda said on a conference call.