Cree’s stock got hammered Thursday on Wall Street after the company announced revenue from its LED Products division is expected to decline 20% year-over-year and 13% sequentially to $174 million in the first quarter of fiscal 2015 due to “weaker global demand than originally targeted.”
In preliminary estimates of financial results for its first fiscal quarter ended Sept. 28, Cree said it expects revenue for the quarter to be approximately $428 million. The report sa
All access premium subscription
Only Electrical Marketing newsletter subscribers have access to premium content.
Being a subscriber to the Electrical Marketing newsletter allows you exclusive access to high value content including key economic indicators measuring the health of the market and access to the Electrical Price Index and other important industry insights.
Sign up for the Electrical Marketing newsletter to get access.