UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of
1934
CREE,
INC.
(Exact
name of registrant as specified in its charter)
|
North
Carolina
|
0-21154
|
56-1572719
|
|
(State
or other jurisdiction of
incorporation)
|
(Commission
File
Number)
|
(I.R.S.
Employer
Identification
Number)
|
| |
|
|
|
4600
Silicon Drive
|
|
|
Durham,
North Carolina
|
27703
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
(919)
313-5300
Registrant’s
telephone number,
including area code
N/A
(Former
name or former address, if changed since last report)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[
] Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
[
] Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)
[
] Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[
] Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
On
June
15, 2007, the board of directors of Cree, Inc. (the “Company”) approved the
extension of the Company’s stock repurchase program through June 29,
2008. Under the stock repurchase program authorized on April 27,
2005, the Company had been authorized to repurchase up to 5,450,000 shares
of
common stock. As of June 15, 2007, 4,382,918 shares remain available
for purchase under the repurchase
program. The Company expects to use
available cash to finance purchases under the
program. The repurchase program can be
implemented through open market or privately negotiated transactions at the
discretion of the Company’s management. The Company will continue to
determine the time and extent of any repurchases based on its evaluation
of
market conditions and other factors.
The
Company anticipates that it will file the required financial statements and
pro
forma financial information relating to its March 30, 2007 acquisition of
COTCO
Luminant Device Limited (“COTCO”) by July 16, 2007.
This
Current Report on Form 8-K
contains forward-looking statements involving risks and uncertainties, both
known and unknown, that may cause actual results to differ materially from
those
indicated. Actual results may differ materially due to a number of factors,
including fluctuations in the market price of the Company’s common stock and
other market conditions, the difficulty of predicting the Company’s future cash
needs which may turn out to be different from what the Company expects, the
nature of other investment opportunities available to the Company from time
to
time, the Company’s cash flow from operations, the Company’s ability to obtain
completed audited financial information for COTCO and other factors discussed
in
the Company’s filings with the Securities and Exchange Commission, including its
report on Form 10-K for the fiscal year ended June 25, 2006, and subsequent
filings.
SIGNATURES
Pursuant
to the requirements of the
Securities Exchange Act of 1934, the Registrant has duly caused this report
to
be signed on its behalf by the undersigned hereunto duly
authorized.
| |
CREE,
INC.
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
By:
|
|
/s/
John T. Kurtzweil
|
| |
|
|
John
T. Kurtzweil
|
| |
|
|
Chief
Financial Officer
|
Dated: June
15, 2007