Cree's LED product revenue in the first quarter of fiscal year 2018 exceeded $144 million, an increase of 5% over the same period last year.

Cree, Inc. (NASDAQ: CREE) recently reported its first-quarter results for fiscal year 2018, which ended on September 24, 2017. The company recorded total revenues of $360 million, driven by three key business segments: LED products (including LED chips and devices), Wolfspeed (covering power devices, RF components), and lighting solutions. This performance aligns with the company’s revenue expectations for the quarter. Within this quarter, the LED product division generated $144.52 million in revenue, marking a 5% increase compared to the same period in fiscal 2017, when LED sales stood at $137.49 million. This growth reflects continued demand for Cree’s high-quality LED technologies across various applications. Wolfspeed, Cree’s semiconductor division, saw a significant boost in performance, with operating income reaching $66.15 million—up 33% from $49.90 million in the first quarter of fiscal 2017. This strong growth highlights the increasing adoption of Cree’s silicon carbide-based power and RF solutions in critical industries such as automotive, industrial, and telecommunications. In addition, CEO Gregg Lowe, who recently took the helm at Cree, shared his vision for the company. “Cree has always been a leader in innovation,” he stated. “Over the years, we’ve consistently pushed the boundaries of what’s possible. I’m thrilled to be part of this incredible team. We’re facing exciting opportunities and challenges ahead, and I’m looking forward to working closely with our talented team to seize those opportunities while overcoming any obstacles that come our way.” With a solid financial foundation and a renewed leadership focus, Cree is well-positioned to continue driving growth and technological advancement in the markets it serves. As the company moves forward, its commitment to innovation remains a core strength that will shape its future success.

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