#Cree reports higher-than-expected quarterly revenue growth of 8% and doubles profits
For fiscal third-quarter 2017 (ending 26 March), Cree targets combined revenue (including both continuing and discontinued operations) of $340-370m. For discontinued operations (Wolfspeed), revenue is expected to be roughly level at $55m. For continuing operations, revenue is expected to fall to $285-315m, as growth in new commercial lighting products partially offsets seasonal slowness related to both weather and holidays. This, combined with the consumer lighting revenue remaining level, will result in overall core lighting revenue falling a few percent from fiscal Q2. "We target our LED business to be 10% lower sequentially, which is slightly more than the typical seasonal decline due to the holiday timing impact [two major holidays in the quarter]," notes Swoboda.