Cree, Inc. yesterday reported its 4Q09 revenue and forecast better-than-expected first-quarter results. The company scored record revenue of $148.1 million for its fourth quarter of fiscal 2009, representing a 9% increase compared to revenue of $135.9 million reported for The fourth fiscal quarter last year and a 13% increase compared to the fiscal third quarter of 2009. And for fiscal year 2009, the company reported revenue of $567.3 million, which represents a 15% increase compared to revenue of $493.3 million for fiscal 2008.
For its first quarter of fiscal 2010 ending September 27, 2009, Cree targets revenue in a range of $160 million to $166 million.
"Our strong Q4 results were an outstanding finish to a very good year and reflect the success of our strategy to drive growth in LEDs and LED lighting applications," stated Chuck Swoboda, Cree chairman and CEO. ?DEntering fiscal 2010, our Q1 backlog is We are well positioned to benefit from the worldwide growth in LED lighting. As such, we continue to invest in the new products, channels and technical support needed to accelerate the LED lighting revolution ."
Cree's shares grew by 4 percent hours after the announcement .
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