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SemiLEDs Reports Second Quarter Of Fiscal Year 2012 Financial Results

Stocks in this article: LEDS

SemiLEDs Corporation (NASDAQ: LEDS), a developer and manufacturer of LED chips and LED components, today announced its financial results for the second quarter of fiscal year 2012, ended February 29, 2012. Revenue for the second quarter of fiscal 2012 was $7.9 million, a 21% decrease compared to $10.0 million in the second quarter of fiscal 2011.

“Given the ongoing challenging industry environment, we are pleased with our quarterly financial and operational results. Our strategy of pursuing the indoor lighting market has proved successful as it continues to improve our revenue growth, and we remain cost conscious in areas of the business that won’t impede our innovation and technology advantage,” said Trung Doan, Chairman and CEO of SemiLEDs. “We look forward to working within a better economic climate but for the time being we continue to maintain the slow, steady growth and improvement that we have shown over the last two quarters,” concluded Doan.

GAAP net loss attributable to SemiLEDs stockholders for the second quarter of fiscal 2012 was $7.1 million, or a loss of $0.26 per diluted share, compared to GAAP net loss attributable to SemiLEDs stockholders of $1.2 million, or a loss of $0.05 per diluted share, for the second quarter of fiscal 2011. On a non-GAAP basis, net loss attributable to SemiLEDs stockholders for the second quarter of fiscal 2012 was $6.1 million, or a loss of $0.22 per diluted share, compared to non-GAAP net loss attributable to SemiLEDs stockholders of $0.7 million, or a loss of $0.03 per diluted share, for the second quarter of fiscal 2011.

GAAP gross margin for the second quarter of fiscal 2012 was negative 9%, compared with positive gross margin for the second quarter of fiscal 2011 of 23%. Operating margin for the second quarter of fiscal 2012 was negative 73%, compared with negative 6% in the second quarter of fiscal 2011. Margins continue to improve through continued expense management.

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