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Cree reported record income for its last fiscal year on Tuesday and forecast future revenue that didn't quite match analysts' expectations. The news sent Cree shares down in after-hours trading. But in a conference call with analysts, Chief Financial Officer Mike McDevitt dropped a hint that Cree is eyeing another market for growth. So what's Cree thinking?
Validic, a Durham-based startup focused on linking medical devices, app developers and healthcare clients and is backed by Dallas billionaire Mark Cuban, has landed $5 million in new venture capital.
"Let me say up front: As CEO, I'm not satisfied with the numbers on this page," says Chief Executive Officer Tim Cook in a blog post. "They're not new to us, and we've been working hard for quite some time to improve them."