Cree Inc., Durham, N.C., a maker of LED lighting products, reported a 31 percent increase in profits for its fiscal fourth quarter, beating Wall Street targets. For the fourth quarter, the company earned $8.4 million, compared with $6.4 million a year earlier.
Total revenue rose 22 percent to $135.9 million. LED sales grew 27 percent from the prior year.
“Q4 represented a strong finish to a very successful year,” said Chuck Swoboda, Cree chairman and CEO. “Revenue exceeded our
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