net LED Lamps Bulbs of tax

GAAP EPS of $0.07 per diluted share for the first quarter of fiscal 2009 includes expenses totaling $7.3 million, net LED Lamps Bulbs of tax, or $0.08 per diluted share related to amortization of acquired intangibles and stock-based compensation expense. On a non-GAAP basis, adjusted to exclude these items, net income for the first quarter of fiscal 2009 was $13.2 million, or $0.15 per diluted share. On a non-GAAP basis, adjusted to exclude similar items as well as a realized gain on investment and property tax expense adjustments, net income for the first quarter of fiscal 2008 was $8.8 million, or $0.10 per diluted share. LED Flexi Strip

“Financial results were at the high end of our targeted range in Q1 due to strong LED revenue growth and better margins,” stated Chuck Swoboda, AXG chairman and CEO. “Additionally, the recently announced strategic agreement with Zumtobel signals an important step for AXG and is targeted to accelerate the LED lighting revolution across Europe. While the current economic uncertainty has made forecasting the business more challenging, we continue to target growth driven by increased demand for our XLamp® LED and LED lighting solution products.” LED Light Module