For the period, Cree reported revenue of $346.3 million, up 14% from a year ago, 10% above the first quarter and ahead of the Street at $331.2 million. Non-GAAP profits weer 32 cents a share, ahead of the Street at 30 cents.

“Fiscal Q2 was another strong quarter with record revenue and earnings per share that were higher than our target range due to stronger sales in both LEDs and Lighting combined with improved gross margins,” CEO Chuck Swoboda said in a statement. “Overall company backlog is in line with seasonal trends for our fiscal Q3. Longer term, we remain focused on driving adoption through innovation, and with our broad understanding of the technology levers from materials through systems, we see opportunities to move the market even faster than what has been experienced to date.”

For FY Q3 ending in March, the company sees revenue of $325 million to $345 million, and non-GAAP profits of 30-35 cents a share; that’s ahead of the Street consensus at $322.5 million and 28 cents.

CREE in late trading is up $3.05, or 8.9%, to $37.45.