LED vendors Cree earnings forecast to disappoint the market

Light-emitting diode (LED) upstream of Cree Inc. grain maker, announced the 2012 fiscal year first quarter in 18 days after the U.S. market close (2011 7-9 months) earnings: revenue increased 0.2% year (Ji Zeng 11%) to $269 million; the 49% industry gross margin from the same period last year fell to 37.4%; this camp interest rate since 31.3% plunged to 12.2%; trade surplus per share diluted by 58% to $0.25. According to the Thomson Reuters survey, analysts had expected Cree month 7-9 industry earnings per share will reach $0.26. Prospects this season (10-12 months), Cree revenues are expected to reach 3.00-3.20 billion dollars, industry gross margin will reach about 37-38%, its earnings per share will reach $0.25-0.28. According to the FactSet survey, analysts had expected Cree 10-12 monthly revenue, industry earnings per share will reach $307 million 200 thousand, $0.32. Cree said that at the end of September the amount of inventory quarter increased $27 million 100 thousand to $203 million 600 thousand, the stock of 107 days. Cree 18 in the normal disk rose by 4.40%, to close at $27.78, after falling by 4.14% to $26.45.