On October 16th, US time, Cree announced its third-quarter earnings report. Revenue increased 17% year-on-year and 3% increased to US$315.8 million. The gross profit margin of the industry rose to 37.5% from 37.4% in the same period a year ago. The profit margin fell from 12.2% to 11.9%; the diluted earnings per share of the industry increased by 8% to US$0.27.
Cree said that July-September revenue hit a record high in the single season, and the earnings per share of the industry is also close to the upper edge of the previous forecast range. Currently, Cree has received more backlog orders than it did in the previous quarter, but visibility is still limited and the economic environment is still full of challenges. Cree said the company's vertically integrated lighting business has begun to show significant leverage.
Looking forward to the fourth quarter, Cree expects revenue to reach 3.2-340 million US dollars (the median value is 330 million US dollars, equivalent to a quarterly increase of 4.5%), the gross profit margin of the industry will reach 38.5%, and the earnings per share will reach 0.27. -0.31 US dollars (the middle value is 0.29 US dollars).
Cree said that July-September revenue hit a record high in the single season, and the earnings per share of the industry is also close to the upper edge of the previous forecast range. Currently, Cree has received more backlog orders than it did in the previous quarter, but visibility is still limited and the economic environment is still full of challenges. Cree said the company's vertically integrated lighting business has begun to show significant leverage.
Looking forward to the fourth quarter, Cree expects revenue to reach 3.2-340 million US dollars (the median value is 330 million US dollars, equivalent to a quarterly increase of 4.5%), the gross profit margin of the industry will reach 38.5%, and the earnings per share will reach 0.27. -0.31 US dollars (the middle value is 0.29 US dollars).
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