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To: sam who wrote (4044)	10/13/2000 12:47:54 PM
From: Sully-	Respond to of 10713

Friday October 13 12:28 PM ET Cree Disputes Report of Warning on Gross Margins NEW YORK (Reuters) - Semiconductor company Cree Inc. (NasdaqNM:CREE - news) on Friday disputed a report it said was read on CNBC's Squawk Box segment saying that Cree had ``warned'' of reduced margins in the future. Cree said it issued no such warning. CNBC was not immediately available to comment. Cree shares were off more than 10 percent at 85-1/16, making it the top net loser on Nasdaq. The Durham, N.C.-based company said its chief financial officer Cynthia Merrell, in the company's earnings conference call after reporting financial results on Thursday, was asked about gross margins. Cree said she replied: ``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. The company had reported on Thursday its first quarter profit more than doubled, topping Wall Street's expectations, as revenue surged 80 percent. dailynews.yahoo.com Ö¿Ö