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To: Andy Parham who wrote (792)	4/15/1998 5:03:00 PM
From: webstocker	Respond to of 10714

ATTENTION CREE SHOPPERS WE HAVE BLUE LIGHT SPECIAL DURHAM, N.C., April 15 /PRNewswire/ -- Cree Research, Inc. (NASDAQ:CREE), the world's leading manufacturer and supplier of silicon carbide (SiC) wafers and SiC-based semiconductor products, today reported record revenue of $10,671,000 for the third quarter of fiscal 1998 - a 53% increase over the year-ago period. Net income for the quarter was $1,755,000 or $0.13 per share, representing a 217% increase from net income of $554,000 or $0.04 per share reported for the third quarter of fiscal 1997. Revenue growth for the quarter was driven by strong product sales, primarily from the company's blue light-emitting diode (LED) and silicon carbide materials products. Revenues for the nine-month period ended March 29, 1998 were $30,983,000 as compared to $20,494,000 recorded in the first nine months of fiscal 1997. The company also posted net income of $4,396,000 or $0.33 per share for the nine-month period as compared to $2,818,000 or $0.22 per share reported in the year-ago period. Fiscal 1998 results reflect a significantly higher tax provision rate of 29% compared to the 10% rate utilized in the prior year. Commenting on the quarterly results, Neal Hunter, Cree president and CEO,stated, "Cree has completed a record quarter in terms of revenue, gross margin and pre-tax earnings, reflecting the successful execution of our operating plan for the year to date. To achieve our goals for the fourth quarter, the key short-term challenge is to complete the transition to 100% conductive buffer LED manufacturing. This brighter, less complex chip should enable Cree, as production volumes increase, to reach new LED customers through lower pricing while maintaining or expanding unit margins. We are still working to add significant new customers for our conductive buffer chip in the fourth quarter and beyond. Accomplishing this transition is necessary to meet our goals."