NEW YORK, NY -- (Marketwire) -- 04/12/12 -- The LED market looks to be heating up once again, as a drop in prices for LED streetlights may begin to sway local governments to make the switch to the new technology. According to a report put out by the Department of Energy, roadway lighting accounts for 25 percent of the outdoor-lighting market in the U.S. with LED lights making up only a 3 percent share of the roadway market. The Paragon Report examines investing opportunities in the LED Industry and provides equity research on Cree, Inc. (NASDAQ: CREE) and Rubicon Technology, Inc. (NASDAQ: RBCN).
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"The LED industry has grown in cycles," observed Eric Higham, Director of the Strategy Analytics GaAs and Compound Semiconductor Technologies Service. "The first phase involved backlighting for small consumer devices, like mobile handsets. These solutions have evolved to meet the needs of laptop, television, electronic sign and automotive applications and the next wave for LED adoption appears to be commercial and residential lighting."
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Cree, Inc. announced a breakthrough innovation in street lighting with the introduction of the XSP Series LED Street Light -- the most affordable and efficient Cree® LED street light designed to speed payback to municipalities. Using nearly 50 percent less energy and designed to last over three times longer than wasteful, traditional high-pressure sodium street lighting, the XSP Series can double the lumens per dollar compared to previous generations of Cree LED street lights and is the ideal choice for cities and municipalities looking to save money and resources.
Rubicon Technology, Inc., a leading provider of sapphire substrates and products to the LED, RFIC, semiconductor, and optical industries, reported fourth quarter revenue of $19.4 million, which was slightly below the range of management's November guidance. Revenue decreased both year-over-year and sequentially, largely as a result of weak demand from the LED market due to excess inventory in the LED supplies chain.
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