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IBDvalueinvestin (99.64)

Garp Research says CREE a solid long-term growth story.

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August 12, 2010 – Comments (0) | RELATED TICKERS: CREE

Cree remains a solid long-term growth story- GARP Research (59.11) : GARP Research notes Cree's pro-forma EPS tripled y/y on a 79% increase in sales during the June quarter. But its shares dove 13% as management's outlook for the Sept. quarter disappointed on weakness in LED-TV backlighting. Nonetheless the firm says, the key driver to Cree's future—general lighting sales (~60% of total)—are expected to grow double-digits q/q, which suggests Cree remains a solid long-term growth story.

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