LED technology maker Cree (CREE) this afternoon reported fiscal Q2 revenue and profit per share that topped analysts’ estimates.
Revenue in the three months ended in December rose to $346 million, yielding ESP of 32 cents, excluding some costs.
Analysts had been modeling $331 million and 29 cents.
For the current quarter, the company sees revenue in a range of $325 million to $345 million, and EPS of 30 cents to 35 cents. That is above the average estimate for $323 million and 28 cents.
Cree management will host a conference call with analysts at 5 pm, Eastern time, and you can catch the webcast of it here.
Cree shares are up $4.51, or 13.5%, at $37.98 in late trading. I would note that while not a direct comparable, shares of organic LED technology maker Universal Display (PANL) are up 15 cents, or 0.6%, at $27.20 in late trading.
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