DURHAM, N.C., Sept. 1 /PRNewswire/ -- Cree Research, Inc. (NASDAQ:CREE),
the world leader in the development and manufacture of semiconductor materials
and electronic devices made from silicon carbide (SiC), announced today that
it has received contracts from several customers totaling $66.6 million for
shipment through September 2000. These orders include the one-year renewal of
its purchase agreement with Osram Opto Semiconductors GmbH & Co., OHG for
standard and high brightness silicon carbide light emitting diodes (LEDs) and
wafer products. As a result of these customer order commitments, Cree's total
backlog now stands at $111 million for product shipments and contract
research.
F. Neal Hunter, chairman and CEO stated, "Cree has established its
position as the world's low cost leader of blue and green LEDs. These
customer contracts attest to our lead status and confirms the robust
properties of silicon carbide for use in high brightness, high volume
applications." Hunter added, "The greatest demand from our customers is for
our high brightness chips. As we continue this complex and challenging
product ramp, our primary focus remains on the execution and timely delivery
of these new products to our customers during fiscal 2000."
***In the latest Quarter, revenues reported were 17.7 million.*** wj |
