SemiLEDs quarterly revenue rises 7% to $1.75m, while new loan agreements cover ongoing losses

For its fiscal third-quarter 2019 (to 31 May), LED chip and component maker SemiLEDs Corp of Hsinchu, Taiwan has reported revenue of $1.75m, up 7% on $1.63m last quarter.

Gross margin was 19%, compared with breakeven last quarter. Operating expenses rose slightly from $917,000 to $1,041,000, driven mainly by R&D spending rising from $298,000 to $444,000 despite selling, general & administrative expenses being cut from $619,000 to $597,000.

Operating margin has improved from negative 56% to negative 40%. However, net loss has worsened slightly from $847,000 to $859,000 (remaining $0.24 per diluted share). During the quarter, cash and cash equivalents fell from $1.64m to $1.06m.

On 5 July, SemiLEDs entered into two new loan agreements totaling $3.2m (NT$100m) to refinance an existing real-estate loan of $2m (NT$62m) and provide for operating capital of $1.2m (NT$38m).

For fiscal fourth-quarter 2019 (to end-August), the firm expects revenue to drop back to $1.6m.

Tags: SemiLEDs

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