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SemiLEDs Reports Second Quarter Fiscal Year 2021 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 second quarter of fiscal year 2021, ended February 28, 2021.\n\nRevenue for the second quarter of fiscal 2021 was $1.2 million, compared to $719 thousand in the first quarter of fiscal 2021. GAAP net loss attributable to SemiLEDs stockholders for the second quarter of fiscal 2021 was $255 thousand, compared to a loss of $697 thousand in the first quarter of fiscal 2021, or a net loss of $0.06 per diluted share, compared to a net loss of $0.17 per diluted share for the first quarter of fiscal 2021. In the second quarter, we shut down our manufacturing production for two weeks due to the Chinese New Year holiday.\n\nGAAP gross margin for the second quarter of fiscal 2021 was 20%, compared with gross margin for the first quarter of fiscal 2021 of negative 3%. Operating margin for the second quarter of fiscal 2021 was negative 42%, compared with negative 135% in the first quarter of fiscal 2021. The Company’s cash and cash equivalents were $2.1 million at February 28, 2021, compared to $2.7 million at the end of the first quarter of fiscal 2021.\n\nWe are unable to forecast revenue for the third quarter ending May 31, 2021 at this time given the continuing uncertain impact of COVID-19 on the economy and the Company.\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 forward-looking, including, but not limited to, any statements about hi...