Cree, the US-based LED lighting specialist, has given a boost to the sector by increasing revenue and earnings targets for its fourth quarter ending June 28.
Cree now anticpates Q4 revenues in a range of $143m to $150m.
"We are pleased with the strong booking trends for Q4," said Chuck Swoboda, Cree chairman and CEO.
The company said the increase was mainly due to stronger LED component bookings for lighting-related applications, as well as higher LED chip bookings for notebook backlighting.
"We also remain optimistic about the growth potential for LED lighting in fiscal 2010, although there is some near term execution risk as we ramp up production to meet these higher targets," said Swoboda.
Operating expenses are targeted to be approximately $46m.