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Cree CEO: LED restructuring charges contributed to losses

2015-08-12 00:45:32| Semiconductors - Topix.net

Cree CEO Chuck Swoboda admits his company failed in its goal to grow company revenue, but blames, in part, charges stemming from a restructuring plan aimed at cutting overhead costs. Swoboda was speaking to investors late Tuesday, an hour after the Durham LED maker announced a fiscal fourth-quarter loss of $88 million.

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