Cree announced in the US stock market on the 18th after the second quarter of fiscal 2011 (October-December 2010) earnings: revenue increased 29% (quarterly minus 4%) to 257 million US dollars; the industry's diluted earnings per share by A year ago, the $0.38 jumped to $0.55. According to a survey by FactSet Research, analysts originally expected Cree's October-December revenue and diluted earnings per share to be $276.4 million and $0.59, respectively.
Looking forward to this quarter (January-March), Cree said that due to the continued inventory adjustments of Asian customers, the estimated revenue will be between $2.45 and $2.665 billion (with a median of $255 million, equivalent to a quarterly decrease of 0.8%); Earnings per share are estimated to be $0.38-0.45. According to a survey by FactSet Research, analysts originally expected Cree's January-March revenue and earnings per share to be $287.7 million and $0.59, respectively.
Cree CEO Chuck Swoboda said that the October-December earnings report was not as expected due to the decline in sales of LED component channels in Asia.
Philadelphia Semiconductor Index constituent stocks fell 1.66% during the normal trading session on the 18th, closing at $62.71; the follow-up fell 15.56% to $52.95. After the other LED stocks, the stock price also weakened simultaneously. AIXTRON AG, a supplier of organometallic chemical vapor deposition systems (MOCVD), fell 0.95% during the normal trading session to close at $42.81 on the 18th, and fell 4.23% to $41.00. Veleco Instruments Inc., a major MOCVD equipment company, rose 2.57% during the normal trading session to close at $49.16 on the 18th, and fell 4.78% to $46.81 after the close.
Rubicon Technology Inc., a supplier of LED sapphire substrates for upstream materials, fell 0.62% during the normal trading session on the 18th to close at US$22.48. The market subsequently fell 6.18% to US$21.09.
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