Clarion (Nasdaq: CREE), a market leader in LED lighting, announced that its revenue for the second quarter of fiscal 2013 was $346.3 million as of December 30, 2012, and $304.1 million in the second quarter of fiscal 2012. Compared to the increase of 14%, compared with the first quarter of fiscal 2013, an increase of 10%.
GAAP net income for the second quarter of fiscal 2013 was $20.4 million (or diluted earnings per share of $0.18) compared to $12.1 million (or diluted earnings per share of $0.10) for the second quarter of fiscal 2012. , an increase of 69%. Non-GAAP, net income for the second quarter of fiscal 2013 was $36.9 million (or diluted earnings per share of $0.32), compared with $28.7 million in non-GAAP net income for the second quarter of fiscal 2012 (or diluted earnings per share) Compared with the gain of 0.25 US dollars, it increased by 29%.
Cree Chairman and CEO Chuck Swoboda said: “There was another strong performance in the second quarter of the fiscal year. Record revenue and earnings per share exceeded our target range ceiling, thanks to the combination of LED and lighting business. The gross profit growth brought by the company. The current total number of pending orders of the company matches the seasonal trend demand in the third quarter of fiscal. In the long run, we have a wide and full understanding of the entire technical level from materials to systems. We will continue to be committed to promoting adoption through innovation. We foresee that there will be more opportunities and faster growth in the market in the future, and will exceed the speed of development in the past."
Financial indicators for the second quarter of fiscal 2013 (except for the amount and percentage of each share, in thousands of US dollars)
According to GAAP, gross profit increased by 170 basis points to 38.5% in the first quarter of fiscal 2013. According to non-GAAP, gross profit increased by 170 basis points to 39.2% in the first quarter of fiscal 2013.
â— Total cash and investments were $885.8 million, an increase of $69.5 million from the first quarter of fiscal 2013.
â— Net receivables were $144.6 million, a decrease of $17.7 million from the first quarter of fiscal 2013, and a receivables turnover period of 38 days.
â— Inventory was $185 million, an increase of $5.3 million from the first quarter of fiscal 2013, equivalent to a reduction to 78 days of inventory.
GAAP net income for the second quarter of fiscal 2013 was $20.4 million (or diluted earnings per share of $0.18) compared to $12.1 million (or diluted earnings per share of $0.10) for the second quarter of fiscal 2012. , an increase of 69%. Non-GAAP, net income for the second quarter of fiscal 2013 was $36.9 million (or diluted earnings per share of $0.32), compared with $28.7 million in non-GAAP net income for the second quarter of fiscal 2012 (or diluted earnings per share) Compared with the gain of 0.25 US dollars, it increased by 29%.
Cree Chairman and CEO Chuck Swoboda said: “There was another strong performance in the second quarter of the fiscal year. Record revenue and earnings per share exceeded our target range ceiling, thanks to the combination of LED and lighting business. The gross profit growth brought by the company. The current total number of pending orders of the company matches the seasonal trend demand in the third quarter of fiscal. In the long run, we have a wide and full understanding of the entire technical level from materials to systems. We will continue to be committed to promoting adoption through innovation. We foresee that there will be more opportunities and faster growth in the market in the future, and will exceed the speed of development in the past."
Financial indicators for the second quarter of fiscal 2013 (except for the amount and percentage of each share, in thousands of US dollars)
According to GAAP, gross profit increased by 170 basis points to 38.5% in the first quarter of fiscal 2013. According to non-GAAP, gross profit increased by 170 basis points to 39.2% in the first quarter of fiscal 2013.
â— Total cash and investments were $885.8 million, an increase of $69.5 million from the first quarter of fiscal 2013.
â— Net receivables were $144.6 million, a decrease of $17.7 million from the first quarter of fiscal 2013, and a receivables turnover period of 38 days.
â— Inventory was $185 million, an increase of $5.3 million from the first quarter of fiscal 2013, equivalent to a reduction to 78 days of inventory.
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