Article: Cree Research Reports First Quarter Fiscal 1997 Results

Company Reports Strong Backlog for its Primary Product Significant

 
 Progress Cited on Production of LEDs 

DURHAM, N.C., Oct. 24 /PRNewswire/ -- Cree Research, Inc. [Nasdaq: CREE] today announced record revenues of $7,400,000 for the quarter ended September 30, 1996, representing a 118% increase over $3,400,000 for the first quarter of fiscal 1996 and up from the fourth quarter by 41%.

Cree posted net income of $1,906,000, or $0.15 per share for the three months ended September 30, 1996 versus $194,000, or $0.02 per share for the same quarter in fiscal 1996. Excluding two one-time items, the company would have posted a ...

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