LED maker Cree's profit jumps 75 pct

Tue Jan 21, 2014 4:32pm EST

Jan 21 (Reuters) - LED maker Cree Inc reported a 75 percent rise in second-quarter profit, driven by higher sales in its lighting products business, sending its shares up 5 percent in extended trading.

Net income rose to $35.7 million, or 29 cents per share, in the quarter ended Dec. 29, from $20.4 million, or 18 cents per share, a year earlier.

Revenue rose 20 percent to $415.1 million. Revenue from its lighting products jumped 41 percent to $321.6 million.

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