"We delivered on our goal of building financial momentum in Q2, with earnings that exceeded our targets driven by solid revenue growth, good margins and operating expense leverage," said Chuck Swoboda, Cree's Chairman and CEO. "Our lighting business continues to grow, the LED business has stabilized, and our Wolfspeed Power & RF division continues to make progress. Overall, we had a good first half of fiscal 2016 and are well positioned for a strong second half."