{"id":32711,"date":"2014-10-03T08:48:46","date_gmt":"2014-10-03T12:48:46","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=32711"},"modified":"2014-10-03T08:48:46","modified_gmt":"2014-10-03T12:48:46","slug":"why-cree-inc-nasdaqcree-lowered-its-revenue-projection","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/why-cree-inc-nasdaqcree-lowered-its-revenue-projection-32711","title":{"rendered":"Why Cree, Inc. (NASDAQ:CREE) Lowered Its Revenue Projection?"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 10\/03\/2014 (wallstreetpr) \u2013 <strong>Cree, Inc. (NASDAQ:CREE)<\/strong>\u2019s stocks declined by more than 12% on Thursday\u2019s trading session after the company lowered its profit and <a href=\"http:\/\/online.wsj.com\/articles\/cree-slashes-revenue-view-on-lower-led-sales-1412258229\" target=\"_blank\">revenue<\/a> guidance for 1Q2015. It expects the revenues to come at $428 million compared to the initial forecast of $440 million to $465 million. The LED products revenue is anticipated 20% lower compared to a year ago. It is even expected to decline by 13% on a sequential basis to $174 million.<\/p>\n<p style=\"text-align: justify;\">The lower global demand is the reason behind the lower LED projected revenues. However, the lightning product segment is expected to grow 51% year-over-year.it is expected to grow 7% on a sequential basis to $223 million. The growth in LED fixtures and bulbs segment will support the Cree\u2019s financial performance in 1Q2015.<\/p>\n<p style=\"text-align: justify;\"><strong>The preliminary estimates<\/strong><\/p>\n<p style=\"text-align: justify;\">Cree, Inc. (NASDAQ:CREE) expects the GAAP <a href=\"http:\/\/finance.yahoo.com\/news\/cree-announces-preliminary-financial-results-120000075.html\" target=\"_blank\">earnings<\/a> to come below the previously announced range of $0.25 to $0.30 per diluted share. The revenues will decline sequentially for direct as well as distribution customers. Cree expects the RF products and power revenue to grow by 24% year-over-year. It expects 8% sequential growth in RF products and power revenue segment.<\/p>\n<p style=\"text-align: justify;\">The impact will be negative in the overall gross margins. It is expected to come lower than the previous forecast. The product mix will lead to lower gross margins in lightning products and LED products segment. However, Cree expects operating expenses to come lower than previous forecasts.<\/p>\n<p style=\"text-align: justify;\"><strong>The other announcements<\/strong><\/p>\n<p style=\"text-align: justify;\">In the first quarter 2015, Cree, Inc. (NASDAQ:CREE) offered the share repurchase program under which it repurchases 1.2million shares at an average price of $45.22 per share. It accounted for the cash utilization of $54.3 million. The stock repurchase program is open till June 28, 2015 and is left with $146.0 million cash to complete the program. Cree also said that order visibility in second quarter 2015 remains limited and will stay unchanged from the first quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 10\/03\/2014 (wallstreetpr) \u2013 Cree, Inc. (NASDAQ:CREE)\u2019s stocks declined by more than 12% on Thursday\u2019s trading session after the company lowered its profit and [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":32712,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[3674,3673,3675],"stock_ticker":[],"class_list":["post-32711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-cree-inc","tag-cree-inc-nasdaqcree","tag-nasdaqcree","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why Cree, Inc. 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