SemiLEDs Reports Fourth Quarter And Fiscal Year End 2013 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 full year 2013, ended August 31, 2013.

Revenue for the fourth quarter of fiscal 2013 was $3.4 million, a 38% decrease compared to $5.5 million in the fourth quarter of fiscal 2012. GAAP net loss attributable to SemiLEDs stockholders for the fourth quarter of fiscal 2013 was $17.9 million, or a net loss of $0.64 per diluted share, compared to GAAP net loss attributable to SemiLEDs stockholders of $24.6 million, or a net loss of $0.90 per diluted share, for the fourth quarter of fiscal 2012.

“We continue to pursue our strategy of lowering our dependency on general lighting chip sales where supply is exceeding demand, while at the same time broadening our component and UV product lines where pricing pressure is reduced,” said Trung Doan, Chairman, President and CEO. “Our goal is to improve gross margin and operating cash flow,” concluded Doan.

On a non-GAAP basis, net loss attributable to SemiLEDs stockholders for the fourth quarter of fiscal 2013 was $7.3 million, or a net loss of $0.26 per diluted share, compared to non-GAAP net loss attributable to SemiLEDs stockholders of $16.6 million, or a net loss of $0.60 per diluted share, for the fourth quarter of fiscal 2012.

Revenue for fiscal 2013 was $18.0 million, a 39% decrease compared to $29.3 million for fiscal 2012. GAAP net loss attributable to SemiLEDs stockholders for fiscal 2013 was $43.7 million, or a net loss of $1.58 per diluted share, compared to GAAP net loss attributable to SemiLEDs stockholders of $49.5 million, or a net loss of $1.80 per diluted share, for fiscal 2012.

On a non-GAAP basis, net loss attributable to SemiLEDs stockholders for fiscal 2013 was $27.8 million, or a net loss of $1.01 per diluted share, compared to non-GAAP net loss attributable to SemiLEDs stockholders of $37.8 million, or a net loss of $1.38 per diluted share, for fiscal 2012.

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