led lighting shines despite economy: cree ceo

LOS ANGELES (Reuters)-
Super demand
Chief executive of lighting maker Cree Inc. said on Tuesday that despite the global economic downturn and substantial cuts in corporate spending plans, efficient LED lighting will increase next year.
With lower power consumption and longer life than the market
LEDs (LEDs)light-LEDs
In an interview, Cree CEO Chuck Swoboda said that as businesses eager to cut energy costs and save maintenance costs are becoming more and more popular.
\"When you look at energy efficiency, in the short term, there are not many things that have such a big opportunity as moving to more efficient lighting,\" Swoboda said . \".
The company\'s investment in LED lighting varies from time to time. Swoboda gave examples of specific projects whose returns range from one year to four years or so.
While many companies have stopped spending on capital on a large scale, in general, small and medium-sized enterprises
Larger lighting projects \"are continuing at a relatively reasonable rate,\" Swoboda said \".
\"There are still quite a number of ongoing renovations,\" he said, noting that fast-
Restaurants and small retail chains that continue to enhance space.
Kerry, based in Durham, North Carolina, is a rare highlight in the already grim manufacturing market.
The company\'s revenue grew 24% in the last quarter and its earnings rose 62%.
The company said in January that revenue was expected to decline in the quarter, but it did forecast a slight increase in revenue, saying strong growth in business customers would partially offset weak consumer and car demand.
Swoboda declined to comment on the company\'s third-
Tuesday\'s quarterly forecast said it was in a \"silent period \".
Koirui\'s competitors include Japan\'s Toyoda Zhangnan Co. , Ltd. and the privately held Japanese company, as well as Siemens OSRAM.
Swiboda said Cree will pay more attention to the residential market once the new building starts, but noted that the initial cost of LED bulbs is much higher than standard lighting, it is expected that it may take consumers 10 years to see their money returned.
The Cree Downlight module, which can be installed on the ceiling, costs about $100 per unit.
Corey\'s shares are also falling, up 48% from nine so far this year.
The S & P 2% index fell by 400, an integral part of it.
The stock is also valued at a high price-earnings ratio of about 2009 Times.
In the MidCap 400 index, only about a dozen companies have higher multiples.
Investor optimism that Kerry will benefit from the US marketS.
Although Swoboda said it is not clear when the funds will start to be implemented in the project.
\"We know our clients are working, but in terms of the speed at which these projects are translated into specific projects, they have chosen the winner, and unfortunately, I don\'t think we know yet, \"Swoboda said he added that the adoption of LED will pick up next year, regardless of whether there is economic stimulus to help.
But the company earned only 18% of U. S. revenue last year.
Although the company expects the United StatesS.
Sales growth, it expects the overall contribution of the market to revenue will not change dramatically due to opportunities in markets such as China, which accounted for 33% of sales last year.
When talking about the Chinese market, Swoboda said: \"Its growth rate has not reached its original level, but it is still relatively stable . \" The Chinese market is \"biased towards LED lighting,\" he said.
Cree\'s share price closed at $23.
Nasdaq rose 50 cents to 2 on Tuesday. 2 percent.
It\'s still below its 52-
The weekly high of $31.
From April to 2008.