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UPDATE 1-Cree to restructure LED business, cuts revenue forecast
2015-06-25 01:06:46| Electronics - Topix.net
Cree Inc said it would reduce manufacturing capacity at its light-emitting diode factory, as it struggles with a decline in prices, and take an $85 million restructuring charge. The company also lowered its revenue forecast for the fourth quarter and said it would buy back $500 million worth of stock for the next fiscal year.
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Category:Electronics and Electrical
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