Form 8-K June 22 2006
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)
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North
Carolina
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0-21154
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56-1572719
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(State
or other jurisdiction of
incorporation)
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(Commission
File
Number)
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(I.R.S.
Employer
Identification
Number)
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4600
Silicon Drive
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Durham,
North Carolina
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27703
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(Address
of principal executive offices)
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(Zip
Code)
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(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
20, 2006, the board of directors of Cree, Inc. (the “Company”) approved the
extension of the
Company’s stock repurchase program through June 24, 2007. 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 20, 2006,
5,450,000 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.
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 and other factors discussed in the Company’s filings with
the Securities and Exchange Commission, including its report on Form 10-K for
the year ended June 26, 2005, and subsequent filings.
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.
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CREE,
INC.
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By:
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/s/
Charles
M. Swoboda |
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Charles
M. Swoboda
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Chairman,
Chief Executive Officer and
President
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Dated:
June 22, 2006