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To: Yogizuna who wrote (4049)	10/13/2000 1:27:57 PM
From: Richard Habib	Read Replies (1) \| Respond to of 10714

On the Cree cc notes posted earlier, a slight negative I might add that wasn't mentioned - cash flow was only $5M for the qtr due to timing of payments. Still expect $80-$90M for FY2001. As noted in the cc notes, conversion rate is 48D which Cindy noted was still the lowest in the industry. Might also note that Laser effort could be considered slightly behind guidance given in Q4. Noted end of FY2001 in the Q4 cc - guidance is now FY2002 although one could argue that may not be much of a change. Neil did note that they were on track with respect to milestones and could possible have reduction in sked length. Since no one has noted it I suppose it should be pointed out that while the cc was good, BofA still reduced the price target from $300 to $160 which I think reflects more the continued shrinkage of multiple expansions to 1998-1999 levels rather than any significant issue with the company. Rich