Business
SemiLEDs Reports Fourth Quarter and Fiscal Year End 2022 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 fourth quarter and full year of fiscal year 2022, ended August 31, 2022.\n\nRevenues for the fourth quarter and third quarter of fiscal 2022 were $1.6 million and $1.8 million, respectively. GAAP net loss attributable to SemiLEDs stockholders for the fourth quarter of fiscal 2022 increased to $1.1 million, or $(0.25) per diluted share, compared to a net loss of $916 thousand, or $(0.20) per diluted share, in the third quarter of fiscal 2022.\n\nGAAP gross margin for the fourth quarter of fiscal 2022 increased to 21%, compared with gross margin for the third quarter of fiscal 2022 of 19%. Operating margin for the fourth quarter of fiscal 2022 decreased to negative 66%, compared with negative 43% for the third quarter of fiscal 2022. The Company’s cash and cash equivalents were $4.3 million at August 31, 2022, compared to $3.0 million at the end of the third quarter of fiscal 2022.\n\nWe are unable to forecast revenues for the first quarter ending November 30, 2022 at this time given the uncertain impact of COVID-19 on the economy and the Company.\n\nRevenues for fiscal year 2022 increased to $7.1 million, compared to $4.7 million in fiscal year 2021. GAAP net loss attributable to SemiLEDs stockholders for fiscal year 2022 decreased to $2.7 million, or $(0.61) per diluted share, compared to a net loss of $2.9 million, or $(0.68) per diluted share, in fiscal year 2021.\n\nGAAP gross margin for fiscal year 2022 decreased to 20%, compared with gross margin for fiscal year 2021 of 22%. Operating margin for fiscal year 2022 improved to negative 45%, compared with negative 83% in fiscal year 2021. The Company’s cash and cash equivalents were $4.3 million as of August 31, 2022, compared to $4.8 million as of August 31, 2021.\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, whi...