|Q2 2014 Financial Metrics (in thousands, except per share amounts and percentages)|
|Earnings per diluted share||$||0.29||$||0.18||$||0.11||61||%|
|Earnings per diluted share||$||0.46||$||0.32||$||0.14||44||%|
- Gross margin decreased 110 basis points from Q1 of fiscal 2014 to 37.5% on a GAAP basis and decreased 100 basis points to 38.2% on a non-GAAP basis.
- Cash and investments increased by $95.6 million from Q1 of fiscal 2014 to $1.2 billion.
- Accounts receivable (net) increased by $4.3 million from Q1 of fiscal 2014 to $213.5 million, with days sales outstanding of 46.
- Inventory increased $17.1 million from Q1 of fiscal 2014 to $234.5 million, with days of inventory of 81 days.
- Released the LEDway ® High Output (HO) LED street light to address large multi-lane freeways and expressway applications, replacing inefficient High Pressure Sodium (HPS) lighting up to 400 watts;
- Introduced the CXB High-Bay LED luminaire, which cuts energy consumption in half and nearly eliminates maintenance costs, making it the ideal replacement for energy-wasting fluorescent and HID high-bay luminaires;
- Launched the new XLamp ® CXA 3590 LED array, the ideal light source to replace 250-watt metal-halide fixtures. This new array delivers up to 16,225 lumens at 85 oC, 68% more lumens compared to Cree’s previous brightest array;
- Expanded our product line with the introduction of the new Cree ® LED 75-watt Replacement Bulb.