reported fiscal second-quarter earnings that slightly beat Wall Street's expectations, which the company attributed to its focus on expanding market penetration through new product offerings -- a notable achievement in a time when many semiconductor-related companies are talking about order delays and spending slowdowns.
The semiconductor parts and electronics devices maker said it earned 18 cents for the quarter, up from 8 cents in the year-ago period. Seven analysts polled by
First Call/Thomson Financial
were expecting earnings of 17 cents for the quarter.
Cree said revenue totaled $41.5 million, up from $24.8 million last year.
Shares of Cree, which is based in Durham, N.C., gained $3.50, or 11.1%, to $34.94 in regular session
trading, but dipped to $32.63 in recent after-hours