CreeShares of Cree ( CREE) slumped in late trades on Tuesday after the Durham, N.C. maker of LED lighting components came in a penny shy of the consensus view with its latest quarterly profit and gave a disappointing earnings outlook for the current quarter. Durham, N.C.-based Cree sees non-GAAP earnings of 25 to 28 cents a share for the three months ending Dec. 25 with revenue projected between $300 million and $320 million. The current average estimate of analysts polled by Thomson Reuters is for a profit of 33 cents a share in the December quarter on revenue of $310 million. The stock fell 4.6% to $26.50 in late trades with volume below 500,000. Based on Tuesday's regular session close at $27.78, the shares were already down more than 50% so far in 2011.