Friday October 13, 11:48 am Eastern Time
Press Release
SOURCE: Cree, Inc.
Cree Disputes Broadcast Statement on CNBC
DURHAM, N.C., Oct. 13 /PRNewswire/ -- Cree, Inc. (Nasdaq: CREE - news) commented that CNBC falsely reported today in its Squawk Box segment that Cree had ``warned'' of reduced margins in the future. Cree has issued no such ``warning.''
As stated by Cree's CFO, Cynthia Merrell, in the company's earnings conference call yesterday, when asked about gross margins going forward, she stated, ``We have not changed our range of low- to mid-50's percent for gross margins going forward. This is the same range as before.'' Gross margins for the first quarter of fiscal 2001 remained at 55 percent, unchanged from the fourth quarter of fiscal 2000. |
