Cree Inc at Canaccord Genuity Growth Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Jed Dorsheimer - Canaccord Genuity - Analyst : What do you say to -- I will often get the question from investors -- I have my own thoughts on this, but I'd like to hear your -- in terms of socket saturation. The lifetime of that LED is lasting 10 or 15 years, in many cases; where an incandescent bulb, or even a compact fluorescent, may last one year or two years. So once we saturate those 14 billion sockets that are out there, is there a market here? How does Cree think about that challenge, in terms of the longer term -- I guess to that gentleman's question -- the longer-term growth of this business?

Question: Jed Dorsheimer - Canaccord Genuity - Analyst : Yes. We see the change -- certainly a change of modality in terms of how you are lighting things. I think there was a previous company that talked about -- I think it was Acuity that talked about, for the retail channel, the usage of someone's phone in changing the buying experience, in terms of going into an Abercrombie and Fitch, for example, and being able to guide you with the sensors, et cetera. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 14, 2014 / 6:30PM, WOLF.N - Cree Inc at Canaccord Genuity Growth Conference Do you see Cree participating? I ask this because in terms of the systems, you talked about the controls -- that you tried that, but focused a little bit more on just the products. Where does that next generation fall into Cree's roadmap from designing a system that may have a lot more sensors, and tie into big data or Internet of Things, et cetera?

Question: Jed Dorsheimer - Canaccord Genuity - Analyst : Do you think, on the operating side, that we've seen -- that we're at a point -- I guess in the lifecycle of Cree, do you think we're at a point where we could start to see some more -- a greater acceleration in leverage, or see leverage on the OpEx?

Question: Jed Dorsheimer - Canaccord Genuity - Analyst : How much do you see policy affecting the adoption of solid-state lighting? How important is that, at this point and going forward?

Question: Jed Dorsheimer - Canaccord Genuity - Analyst : Okay. Any other questions? We've got maybe time for one or two. Yes? Unidentified Audience Member (inaudible - microphone inaccessible) REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 14, 2014 / 6:30PM, WOLF.N - Cree Inc at Canaccord Genuity Growth Conference

Question: Jed Dorsheimer - Canaccord Genuity - Analyst : Well, great. I think that's -- we're out of time. But I'd like to thank you for taking the time to talk to us.