[Text / Gaogong LED Xu Chaopeng] CREE (Nasdaq: CREE) announced that as of September 27, 2015, the company's first quarter fiscal 2016 revenue was $425.5 million, compared with $427.7 million in the first quarter of fiscal 2015. Compared with the decline of 1%, compared with the fourth quarter of fiscal 2015, an increase of 11%.
“FY2016 has achieved a good start. Due to strong demand for LED commercial lighting and solid LED business, the first quarter revenue and profit are higher than the middle line of our original forecast range. We are very strategic about our own. With confidence and optimism about the future, the commercial lighting business is growing, the LED business has rebounded well in the first quarter, and the power and RF business have strong momentum,†said Chuck Swoboda, Chairman and CEO of Cree Inc.
Financial indicators for the first quarter of fiscal 2016: (units / thousand dollars)
According to the data, during the first quarter of fiscal 2016, Cree Inc.'s expenses for the restructuring of the LED business unit (announced on June 24, 2015) were US$15.9 million. Restructuring costs include plant capacity and overhead cost adjustments and are only reflected in the results of the US General Accounting Standards (GAAP).
At the same time, according to the US General Accounting Standards (GAAP), the current gross profit ratio increased to 31.0% in the fourth quarter of fiscal 2015, and increased by 31.0% according to non-GAAP. 21.0% in the fourth quarter, rising to 31.7%;
From the recent performance, CREE's own LED business is indeed a bright spot, reflecting its strong influence in the field of LED lighting.
For example, the recently introduced high-intensity XLamp XQ-E HI LEDs enable the first high-power color LEDs optimized for optical performance; the first 8-lamp downlight KR8, and the latest generation of LR6 downlights for better light quality and Lower price, expand the LED downlight portfolio; launch new LED bulbs, unlike discounted bulbs, offering better light quality, higher performance, longer life and more energy savings.
CREE officially expects Cree to achieve a revenue target of $425 million - $445 million in the second quarter of fiscal 2016 (as of December 27, 2015).
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