Cree Concludes Divestiture of Lighting Business, Reports LED Product Revenues Down 22%

LDS CS Creelogo 400

Nov 6, 2019

Cree reported non-GAAP loss of 3 cents per share in first-quarter fiscal 2020. Revenues came in at $242.8 million, down 11% year over year.

LED Products revenues were $115.1 million, down 22% on a year-over-year basis and accounted for 47% of total revenues. Weakness in worldwide trade uncertainties affected segmental revenues.

Cree had concluded the divestiture of Lighting Products business unit (Cree Lighting) to IDEAL INDUSTRIES, Inc. The agreement includes the company’s LED lamps, corporate lighting solutions, and lighting fixtures aimed at industrial, consumer and commercial end-markets.

Source

Related Articles


Changing Scene

  • Acuity Acquires M3 Innovation, an Innovative Sports Lighting Startup

    Acuity Acquires M3 Innovation, an Innovative Sports Lighting Startup

    Acuity has announced its acquisition of the business assets of M3 Innovation, LLC (“M3 Innovation”), a sports lighting startup that uses innovative technology to lower the overall cost of the installation and operation of sports lighting solutions. The acquisition has already closed, and the solution is now part of the Acuity Brands Lighting (“ABL”) business portfolio. M3 Innovation’s products and innovative technology will be available through their independent sales network as part of… Read More…

  • Wow Lighting and Controls Welcomes Lucas Begert to Edmonton Office Quotations Department

    Wow Lighting and Controls Inc. Welcomes Lucas Begert to Edmonton Office Quotations Department

    Wow Lighting and Controls Inc. is excited to announce that Lucas Begert is officially joining their Edmonton office in the Quotations department. Lucas comes to Wow Lighting fresh off his recent graduation from MacEwan University, and they are thrilled to be part of the next step in his professional journey. His educational background, enthusiasm, and fresh perspective… Read More…


Design

  • Zaneen: Sign Drum – Blend of Sophistication & High-Performance Lighting

    Zaneen: Sign Drum – Blend of Sophistication & High-Performance Lighting

    When it comes to modern lighting, striking the perfect balance between aesthetic appeal and functionality is key. Sign Drum is the latest in sophisticated design and advanced lighting technology. Whether you’re designing an inspiring office, an inviting hospitality venue, or a cozy residential space, Sign Drum delivers style and performance in equal measure. The Sign Drum collection is… Read More…

  • LEDVANCE: Modern High Ceiling Lighting Ideas 

    LEDVANCE: Modern High Ceiling Lighting Ideas 

    High ceilings, distinctive in contemporary architecture, create a sense of spaciousness and timeless ambiance. However, lighting these elevated spaces presents unique challenges. Whether you need a cozy light for your bedroom or a practical solution for your kitchen, Ledvance can provide inspiration and guidance to effectively illuminate your high-ceilinged space.​ High ceilings pose intricate lighting… Read More…


New Products

  • Lumenpulse: Lumencore Recessed Opticolor+ Nano Downlight

    Lumenpulse: Lumencore Recessed Opticolor+ Nano Downlight

    The Lumencore Recessed Opticolor+ Nano Downlight is a high-performance, colour-changing interior LED luminaire. This versatile three-in-one fixture offers Dynamic RGBW Colours, Dynamic White with Dim-to-Warm, and Premium Static White, all while upholding Lumenpulse’s quality of light and precision. Read More…

  • Eureka Introduces New Segment Luminaire

    Eureka Introduces New Segment Luminaire

    Eureka has announced the release of its new Segment luminaire. The slim linear pendant offers an ultra-sleek aesthetic for a variety of spaces. Segment was conceived alongside Eureka’s recently launched Junction luminaire, and is available in lengths of four, six, or eight feet. Despite its large scale, it cuts through space with a minimalist form to enhance… Read More…