Earnings Snapshots: Electrical Manufacturing Executives’ Comments Show Optimism

Lighting represents an increasing share of Cree’s revenues even while unit prices for its lighting equipment have been falling due to introduction of lower-cost products.  Six of the seven business lines in GE’s industrial segment posted earnings growth and overall industrial profits were up 12% at $5.5 billion. 

LED lighting juggernaut Cree Inc., Durham, N.C., got some love for results for the quarter ended Dec. 29, 2013. The company posted revenues of $415 million for the quarter, a 20% year-over-year increase, and net income growth compared with the same quarter a year ago rose by 89.2% from $16.12 million to $30.50 million. The stock market cheered the news in the numbers, bidding up shares by 7.5% to $67.59.

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