Cree Inc (NASDAQ:CREE) is a company that is leading the LED revolution; it is also very quickly rendering the energy wasting, inefficient and costlier lightening technologies obsolete through the use of safe and efficient LED lighting. The company is an innovator in the global markets when it comes to the use of semiconductor products for power and radio applications.
The company has been on somewhat of a hot streak because of its innovative products and aggressive sales campaigns. For the fiscal year 2013, the company has already seen an increase in revenue by 19% to $.14 billion as compared to figures from last year which stood at $.12 billion. The increase is driven primarily by the performance of the lighting products that the company has so successfully managed to make it into a force to reckon with.
The revenue from the LED product segment is the most significant piece in the revenue chunk for Cree Inc, revenues from LED products in the fiscal year 2013 was $801.5 million which is an increase of 6% from the figures from 2012 which stand at $756.9 million. The increase is because of the increase of sales of the new products and the increase in the number of units sold. This despite the fact that the average price of the LED products saw a decrease of 8% as compared to figures from last year. The competitive pricing in the industry has been a cause of concern for a lot of companies lately but this is also mostly due to low cost products and the pressure exerted from competitive pricings from other companies.
All in all Cree Inc. has done really well to establish itself as an emerging world leader in the LED and semiconductor markets. Projections indicate that the company is only set to become stronger in the coming years.
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