Cree has announced revenue of $136M for its fiscal 4Q08 ended June 29, 2008. This represents a 9% increase compared to the fiscal 3Q08. For fiscal year ended June 29, 2008, Cree reported revenue of $493M, which represents a 25% increase compared to revenue of $394M for fiscal 2007
Company officials attibuted the upswing to numerous things, including double-digit growth in Cree’s XLamps and an increase in orders for high-brightness LEDs due to the increasing demand.
Cree’s product families include recessed LED down lights, lighting-class power LEDs, high-brightness LEDs, blue and green LED chips, power-switching devices and radio-frequency/wireless devices. Applications include general illumination, backlighting, electronic signs and signals, variable-speed motors, and wireless communications
On the other side, Raja Parvez, Rubicon CEO, a manufacturer of monocrystalline sapphire substrates, predicted that “the LED market is expected to continue to grow more than 20% per year over the next several years.”