|Q4 2013 Financial Metrics (in thousands, except per share amounts and percentages)|
|Earnings per diluted share||$||0.23||$||0.09||$||0.14||156||%|
|Earnings per diluted share||$||0.38||$||0.25||$||0.13||52||%|
- Gross margin decreased 60 basis points from Q3 of fiscal 2013 to 37.5% on a GAAP basis, and decreased 60 basis points to 38.2% on a non-GAAP basis.
- Cash and investments increased by $86.9 million from Q3 of fiscal 2013 to $1.0 billion.
- Accounts receivable, net increased by $10.6 million from Q3 of fiscal 2013 to $192.5 million, with days sales outstanding of 46.
- Inventory increased by $1.3 million from Q3 of fiscal 2013 to $197.0 million and represents 76 days of inventory.
- Introduced our new XSPR ™ LED Residential Street Light, a breakthrough in LED outdoor lighting as the first $99 LED street light that is targeted to compete head to head with low-cost traditional street lights in residential applications;
- Introduced our new UR Series LED Upgrade Kit that can deliver payback in less than two years and makes upgrading to LED lighting from linear fluorescent lamps simple and easy;
- Released the XLamp ® XH Series LEDs, the first family of mid-power, ceramic LEDs that offer no-compromise performance and reliability;
- Launched the Cree ® LED BR30 Flood Light, an extension of our series of LED bulbs designed to help accelerate the consumer lighting revolution by saving money and reducing energy consumption;
- Expanded the industry-leading CXA LED family with new 95-CRI options. Delivering up to twice the efficacy of equivalent-CRI LED light sources, the new CXA options deliver halogen-like color and push the boundaries of lighting-class performance;
- Announced that the University of North Carolina General Administration has selected high-performing lighting by Cree as part of its ongoing efforts to reduce energy usage by at least $25 million over seven years.