SemiLEDs Reports Fourth Quarter And Fiscal Year End 2012 Financial Results

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 fiscal fourth quarter and year end 2012, ended August 31, 2012.

Revenue for the fourth quarter of fiscal 2012 was $5.5 million, a 3% increase compared to $5.3 million in the fourth quarter of fiscal 2011.

“The LED market is improving; China has started to release funding for new LED projects and our new products are gaining acceptance,” said Trung Doan, Chairman and CEO of SemiLEDs. “While things are improving, we believe the best course of action is to remain focused on our operations in Taiwan. We are focused on getting our products qualified for our customers and ramping up sales of our products, and we look forward to calendar year 2013 as a turning point of SemiLEDs,” concluded Doan.

GAAP net loss attributable to SemiLEDs stockholders for the fourth quarter of fiscal 2012 was $24.6 million, or a net loss of $0.90 per diluted share, compared to GAAP net loss attributable to SemiLEDs stockholders of $13.6 million, or a net loss of $0.50 per diluted share, for the fourth quarter of fiscal 2011. On a non-GAAP basis, net loss attributable to SemiLEDs stockholders for the fourth quarter of fiscal 2012 was $16.6 million, or a net loss of $0.60 per diluted share, compared to non-GAAP net loss attributable to SemiLEDs stockholders of $13.2 million, or a net loss of $0.49 per diluted share, for the fourth quarter of fiscal 2011.

Revenue for fiscal 2012 was $29.3 million, a 14% decrease compared to $33.9 million for fiscal 2011. GAAP net loss attributable to SemiLEDs stockholders for fiscal 2012 was $49.5 million, or a net loss of $1.80 per diluted share, compared to GAAP net loss attributable to SemiLEDs stockholders of $16.1 million, or a net loss of $0.88 per diluted share, for fiscal 2011.

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