More tough LED business: Cree slumps

LEDs may represent the energy efficient future of lighting, but for the second time this week a leading manufacturer has demonstrated that it’s a rocky business at present. Durham, N.C.-based Cree Inc. reported that first quarter sales ending Sept. 25 sales nudged up a mere 0.2 percent to $269 million, compared to the same quarter a year ago, even though this year’s results include sales from Ruud, the Racine, Wisc. outdoor LED specialist that Cree acquired for around $525 million in August.