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SemiLEDs Reports Third Quarter Fiscal Year 2019
Hsinchu, Taiwan (July 10, 2019) —SemiLEDs Corporation (NASDAQ: LEDS), “SemiLEDs” or the “Company,” a developer and manufacturer of LED chips and LED components, today announced its financial results for the third quarter of fiscal year 2019, ended May 31, 2019.
Revenue for the third quarter of fiscal 2019 was $1.7 million, a 7% increase compared to $1.6 million in the second quarter of fiscal 2019. GAAP net loss attributable to SemiLEDs stockholders for the third quarter of fiscal 2019 was $859 thousand, compared to a loss of $847 thousand in the second quarter of fiscal 2019, or a net loss of $0.24 per diluted share for the third quarter and for the second quarter of fiscal 2019.
GAAP gross margin for the third quarter of fiscal 2019 was 19%, compared with breakeven for the second quarter of fiscal 2019. Operating margin for the third quarter of fiscal 2019 was negative 40%, compared with negative 56% in the second quarter of fiscal 2019. The Company’s cash and cash equivalents was $1.1 million at May 31, 2019, compared to $1.6 million at the end of the second quarter of fiscal 2019. On July 5, 2019, we entered into two new loan agreements totaling an aggregate amount of $3.2 million (NT$100 million) to refinance an existing real estate loan of $2.0 million (NT$62 million) and provide for operating capital of $1.2 million (NT$38 million).
We expect revenue for the fourth quarter ending August 31, 2019 to be about $1.6 million +/- 10%.
SemiLEDs 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.
The following information was filed by Semileds Corp (LEDS) on Wednesday, July 10, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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