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SemiLEDs Reports First Quarter Fiscal Year 2023 Financial Results
HSINCHU, Taiwan--(BUSINESS WIRE)-- SemiLEDs Corporation (NASDAQ: LEDS), “SemiLEDs” or the “Company,” a developer and manufacturer of LED chips and LED
About this update from Semileds Corporation
[{"type":"text","content":" HSINCHU, Taiwan--(BUSINESS WIRE)--\nSemiLEDs Corporation (NASDAQ: LEDS), “SemiLEDs” or the “Company,” a developer and manufacturer of LED chips and LED components, today announced its financial results for the first quarter of fiscal year 2023, ended November 30, 2022.\n\nRevenue for the first quarter of fiscal 2023 was $1.7 million, compared to $1.6 million in the fourth quarter of fiscal 2022. GAAP net loss attributable to SemiLEDs stockholders for the first quarter of fiscal 2023 was $512 thousand, compared to a loss of $1.1 million in the fourth quarter of fiscal 2022, or a net loss of $0.11 per diluted share, compared to a net loss of $0.25 per diluted share for the fourth quarter of fiscal 2022.\n\nGAAP gross margin for the first quarter of fiscal 2023 was 27%, compared with gross margin for the fourth quarter of fiscal 2022 of 21%. Operating margin for the first quarter of fiscal 2023 was negative 39%, compared with negative 66% in the fourth quarter of fiscal 2022. The Company’s cash and cash equivalents was $4.5 million at November 30, 2022, compared to $4.3 million at the end of fiscal 2022.\n\nWe are unable to forecast revenue for the second quarter ending February 28, 2023 at this time given the uncertain impact of COVID-19 on the economy and the Company.\n\nThe Chinese New Year (CNY) of 2023 will begin on January 21, 2023. Our office and factory in Chunan will be closed from January 20, 2023 until January 29, 2023 and will resume operations on Monday, January 30, 2023.\n\nAbout SemiLEDs\n\nSemiLEDs develops and manufactures LED chips and LED components for general lighting applications, including street lights and commercial, industrial, system and residential lighting, along with specialty industrial applications such as ultraviolet (UV) curing, medical/cosmetic, counterfeit detection, horticulture, architectural lighting and entertainment lighting. SemiLEDs sells blue, white, green and UV LED chips.\n\nForward Looking Statements\n\nThis press release contains statements that may constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forwar...