SemiLEDs’ quarterly revenue falls by half

For its fiscal first-quarter 2019 (to end-November 2018), LED chip and component maker SemiLEDs Corp of Hsinchu, Taiwan has reported revenue of $972,000, roughly halving from $1.95m last quarter and $2m a year ago.

Gross margin has worsened further, from +3% a year ago and -11% last quarter to -23%. Likewise, operating margin has worsened from -43% a year ago and -62% last quarter to -105%, despite operating expenses being cut from $1m last quarter to $0.8m.

However, although up on $0.4m a year ago, net loss has been cut from $1.13m ($0.32 per diluted share) last quarter to $983,000 ($0.27 per diluted share). Due to the excess capacity charges experienced for the last few years, considering the risk of technological obsolescence and based on the sales forecast, the firm disposed of certain idle equipment, reducing the net loss.

Cash and cash equivalents hence fell during fiscal 2018 from $3.4m to $2.6m.

For fiscal second-quarter 2019 (to end-February), SemiLEDs expects revenue to rebound to $1.5m.

Tags: SemiLEDs

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