According to the Triangle Business Journal, Cree, the world's top five LED manufacturers, recently announced that it will increase its 275 employees in 2009 in response to the expansion of its LED manufacturing business in Durham, USA, and expects to release 300 more jobs by the end of 2012.
It is understood that Cree currently has about 1,500 employees in Triangle. Due to the growth of the energy-saving LED lighting market, Cree needs to expand its production capacity to meet the needs. Cree Chairman and CEO Chuck Swoboda said that the company not only sees the huge growth of the LED lighting market. It is also proud to offer more green jobs.
It is reported that Cree launched the LED lighting business of Durham in August 2009. The company also started manufacturing and assembling LED lighting products with Flextronics in Mecklenburg.
In September 2009, Cree sold $390 million in stocks, of which $150 million was spent on planned expenditures in the future and possible future expenses, and the rest will be spent on company expenses including salary costs and potential strategic investments.
Cree predicted in August 2009 that earnings per share for July-September ranged from $0.21 to $0.23, and revenues ranged from $160 million to $166 million. In the fourth quarter of Cree's fiscal year (April-June 2009), the earnings per share were $0.18, and the revenue growth rate was 9%, to $148 million. Swoboda said that the fourth quarter earnings report strongly reflects the success of the company's LED lighting application market strategy, and expects LED demand to rise further in fiscal 2010.
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