Cree, a market leader in LED lighting, announced revenue of US $425.5 million for its first quarter of fiscal 2016, ended September 27, 2015. This represents a 1% decrease compared to revenue of $427.7 million reported for the first quarter of fiscal 2015, and an 11% increase compared to the fourth quarter of fiscal 2015. GAAP net loss for the first quarter was $23.6 million, or $0.23 per diluted share, compared to GAAP net income of $11.1 million, or $0.09 per diluted share, for the first quarter of fiscal 2015. On a non-GAAP basis, net income for the first quarter of fiscal 2016 was $22.1 million, or $0.21 per diluted share, compared to non-GAAP net income for the first quarter of fiscal 2015 of $29.6 million, or $0.24 per diluted share.