MANHASSET, N.Y. Semiconductor supplier Cree Inc. reported net income from continuing operations of $20 million, or 26 cents per share, on sales of $105.6 million in the second fiscal 2006 quarter ended December.
In the year-ago quarter, Cree earned $27 million, or 35 cents per share on sales of $96.1 million from continuing operations.
Cree (Durham, N.C) announced last June it would close its unprofitable silicon radiofrequency (RF) and microwave semiconductor business
, located in Sunnyvale, Calif.
For the third fiscal 2006 quarter, Cree targets revenue from continuing operations of $105 million to $110 million with earnings of 25 to 27 cents per share.
Semiconductor supplier California Micro Devices (Milpitas, Calif.) posted earnings of $2.53 million, or 11 cents per share on sales of $19.6 million in its third fiscal 2006 quarter, compared to $0.87 million or 4 cents per share on sales of $17.8 million in the third fiscal 2006 quarter ended December.
The company posted sequential gains in both sales and unit shipments due to strong business from the mobile handset and consumer electronic markets, according to president and chief executive Robert Dickinson.