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Cree Reports Q4, 2007 Results

Cree, Inc. (NasdaqGS:CREE) has announced revenue of $111.2 million for its fiscal fourth quarter ended June 24, 2007. This represents a 23% increase compared to the fiscal third quarter and a 4% increase compared to revenue of $106.7 million reported for the year-ago period. GAAP net income for the fourth quarter was $6.4 million, or $0.08 per diluted share, compared to net income of $13.2 million or $0.17 per diluted share for the fourth quarter of 2006. For fiscal year 2007, Cree reported revenue of $394.1 million, which represents a 7% decrease compared to revenue of $423.0 million for fiscal 2006. GAAP net income was $57.3 million, or $0.72 per diluted share, compared to $76.7 million, or $0.98 per diluted share for fiscal 2006. On a non-GAAP basis net income for fiscal year 2007 was $35.4 million, or $0.44 per diluted share, compared to $83.2 million, or $1.06 per diluted share, for fiscal 2006. “Fiscal 2007 was a challenging but successful year for Cree as we made great strides in our transformation from an LED chip and SiC materials technology company into a components company positioned to lead the LED lighting revolution,” stated Chuck Swoboda, Cree chairman and CEO. “In […]

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Medis Technologies Reports Q2 Results

Medis Technologies Ltd. (NASDAQ:MDTL) reported financial results today for the quarter and six months ended June 30, 2007. For the quarter ended June 30, 2007, the net loss attributable to common stockholders was $9,783,000, or $.29 per share, based on 33,448,397 weighted average common shares, compared to a net loss attributable to common stockholders of $13,722,000, or $.44 per share, based on 31,030,842 weighted average common shares for the quarter ended June 30, 2006. For the six months ended June 30, 2007, the net loss attributable to common stockholders was $19,118,000, or $.57 per share, based on 33,441,443 weighted average common shares, compared to a net loss attributable to common stockholders of $19,618,000, or $.66 per share, based on 29,637,781 weighted average common shares for the six months ended June 30, 2006. The net loss attributable to common stockholders was impacted by non-cash expenses related to stock options accounted for in accordance with SFAS 123®, “Share Based Payment” of approximately $1,693,000 and $3,350,000, for the quarter and six months ended June 30, 2007 respectively, and by dividends declared and paid on the Company’s Series A cumulative convertible perpetual preferred stock of approximately $1,043,000 and $2,044,000 for the quarter ended and […]

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Ford, U-Haul Launch Eco-Friendly Painted Vehicles

This week, Ford Motor Company and U-Haul are putting on the road the industry’s first fleet of vehicles painted with Ford’s environmentally responsible new technology, which reduces greenhouse gases by 15 percent and cuts Ford’s production costs. Some 200 Ford E-Series trucks painted with this new technology have been delivered to U-Haul facilities around the country. U-Haul will begin renting the units, tagged with eco-friendly decals, to customers this week. The technology combines an advanced chemical formulation of high-solids, solvent-borne paint with an innovative three-wet application process that requires a smaller, less expensive and cleaner paint shop than traditional automotive paint facilities. Joe Hinrichs, vice president, North America Manufacturing, Ford Motor Company, said Ford will monitor the U-Haul fleet over the next year to gather important durability data that will help the company develop long-term rollout plans for its industry-first technology. “This marks a big win for our customers, the environment and the business,” Hinrichs said at the annual Center for Automotive Research Management Conference. “We have high hopes for this technology based on our laboratory testing. Once we understand how it performs in the real world, we’ll determine how best to apply it to other manufacturing facilities.” In addition […]

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Renewables Tipped to Spark More Investment

URL: http://www.theage.com.au/news/business/renewables-tipped-to-spark-more-investment/2007/08/06/1186252629739.html Website: http://www.theage.com.au/news/business/renewables-tipped-to-spark-more-investment/2007/08/06/1186252629739.html     

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