Cree reported annual revenue growth of the 19%

Cree has reported a revenue growth of 19% for its fiscal year 2013. The total revenue of Cree 's is US$ 1.39 billion for its fiscal year 2013. The total revenue for its fourth quarter of fiscal 2013 is US$ 375 million, a quarterly growth of 7% compared to previous quarter, and a growth of 22% compared to the same quarter a year ago. For fiscal year 2013, Cree reported GAAP net income was $86.9 million, or $0.74 per diluted share, an increase of 96% compared to $44.4 million, or $0.39 per diluted share, for fiscal 2012. On a non-GAAP basis, net income for fiscal year 2013 was $155.4 million, or $1.32 per diluted share, an increase of 42% compared to $109.2 million, or $0.95 per diluted share, for fiscal 2012. "Our fiscal fourth quarter was a strong finish to a great year, with record revenue and good earnings growth in line with our targets," stated Chuck Swoboda, Cree Chairman and CEO. "Total company backlog is ahead of this point last quarter and we are targeting solid growth in LED lighting in Q1. Our new products have opened new applications, improved payback, and fueled growth in LED lighting. We remain focused on driving mass adoption and our goal of 100% upgrade to LED lighting." Recent Business Highlights shared by Cree includes: Introduced our new XSPR LED Residential Street Light, a breakthrough in LED outdoor lighting as the first $99 LED street light th...