Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries SemiLEDs Reports Fourth Quarter and Fiscal Year End 2023 Financial Results By: SemiLEDs Corporation via Business Wire November 10, 2023 at 04:00 AM EST 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 fourth quarter and full year of fiscal year 2023, ended August 31, 2023. Revenue for the fourth quarter of fiscal 2023 decreased to $1.5 million, compared to $1.7 million in the third quarter of fiscal 2023. GAAP net loss attributable to SemiLEDs stockholders for the fourth quarter of fiscal 2023 increased to $881 thousand, or $(0.18) per diluted share, compared to a net loss of $756 thousand, or $(0.15) per diluted share, in the third quarter of fiscal 2023. GAAP gross margin for the fourth quarter of fiscal 2023 decreased to 3%, compared to 14% for the third quarter of fiscal 2023. Operating margin for the fourth quarter of fiscal 2023 decreased to negative 73%, compared with negative 58% for the third quarter of fiscal 2023. The Company’s cash and cash equivalents were $2.6 million at August 31, 2023, compared to $3.0 million at the end of the third quarter of fiscal 2023. We expect revenue for the first quarter ending November 30, 2023 to be approximately $1.5 million +/- 10%. Revenues for fiscal year 2023 decreased to $6.0 million, compared to $7.1 million in fiscal year 2022. GAAP net loss attributable to SemiLEDs stockholders for fiscal year 2023 was $2.7 million, or $(0.55) per diluted share, compared to a net loss of $2.7 million, or $(0.61) per diluted share, in fiscal year 2022. GAAP gross margin for fiscal year 2023 decreased to 17%, compared with gross margin for fiscal year 2022 of 20%. Operating margin for fiscal year 2023 decreased to negative 57%, compared with negative 45% in fiscal year 2022. The Company’s cash and cash equivalents were $2.6 million as of August 31, 2023, compared to $4.3 million as of August 31, 2022. About SemiLEDs SemiLEDs develops, manufactures, and sells 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. Forward Looking Statements This press release contains statements that may constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, revenue expectations for the first quarter ending November 30, 2023, any statements about historical results that may suggest trends for SemiLEDs’ business; any statements of the plans, strategies and objectives of management for future operations; any statements of expectation or belief regarding recovery of the LED industry, market opportunities and other future events or technology developments; any statements regarding SemiLEDs’ position to capitalize on any market opportunities; and any statements of assumptions underlying any of the foregoing. These forward-looking statements are based on current expectations, estimates, forecasts and projections of future SemiLEDs’ or industry performance based on management’s judgment, beliefs, current trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. SemiLEDs’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) and other SemiLEDs filings with the SEC (which you may obtain for free at the SEC’s website at http://www.sec.gov) discuss some of the important risks and other factors that may affect SemiLEDs’ business, results of operations and financial condition. SemiLEDs undertakes no intent or obligation to publicly update or revise any of these forward looking statements, whether as a result of new information, future events or otherwise, except as required by law. SEMILEDS CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidated Balance Sheets (In thousands of U.S. dollars) August 31, August 31, 2023 2022 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 2,572 $ 4,274 Restricted cash and cash equivalents 78 82 Accounts receivable (including related parties), net 793 880 Inventories 4,022 3,784 Prepaid expenses and other current assets 129 123 Total current assets 7,594 9,143 Property, plant and equipment, net 3,233 4,139 Operating lease right of use assets 1,371 1,578 Intangible assets, net 97 102 Investments in unconsolidated entities 974 922 Other assets 186 170 TOTAL ASSETS $ 13,455 $ 16,054 LIABILITIES AND EQUITY CURRENT LIABILITIES: Current installments of long-term debt $ 5,042 $ 5,063 Accounts payable 436 286 Accrued expenses and other current liabilities 2,711 2,702 Other payable to related parties 1,374 1,061 Operating lease liabilities, current portion 139 143 Total current liabilities 9,702 9,255 Long-term debt, excluding current installments 1,327 1,866 Operating lease liabilities, less current portion 1,232 1,435 Total liabilities 12,261 12,556 Commitments and contingencies EQUITY: SemiLEDs stockholders’ equity Common stock — — Additional paid-in capital 184,246 183,711 Accumulated other comprehensive income 3,550 3,697 Accumulated deficit (186,645 ) (183,955 ) Total SemiLEDs stockholders’ equity 1,151 3,453 Noncontrolling interests 43 45 Total equity 1,194 3,498 TOTAL LIABILITIES AND EQUITY $ 13,455 $ 16,054 SEMILEDS CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidated Statements of Operations (In thousands of U.S. dollars and shares, except per share data) Three Months Ended Year Ended August 31, August 31, 2023 May 31, 2023 2023 2022 Revenues, net $ 1,453 $ 1,679 $ 5,979 $ 7,051 Cost of revenues 1,412 1,438 4,972 5,654 Gross profit 41 241 1,007 1,397 Operating expenses: Research and development 321 372 1,353 1,484 Selling, general and administrative 787 850 3,058 3,309 Gain on disposals of long-lived assets, net — — — (196 ) Total operating expenses 1,108 1,222 4,411 4,597 Loss from operations (1,067 ) (981 ) (3,404 ) (3,200 ) Other income (expenses): Impairment loss on investments (1 ) — (1 ) — Gain on disposals of investment — — — — Interest expenses, net (68 ) (67 ) (287 ) (369 ) Other income, net 288 295 1,054 1,485 Foreign currency transaction (loss) gain, net (32 ) (3 ) (52 ) (642 ) Total other income, net 187 225 714 474 Loss before income taxes (880 ) (756 ) (2,690 ) (2,726 ) Income tax expense — — — — Net loss (880 ) (756 ) (2,690 ) (2,726 ) Less: Net income (loss) attributable to noncontrolling interests 1 — — 18 Net loss attributable to SemiLEDs stockholders $ (881 ) $ (756 ) $ (2,690 ) $ (2,744 ) Net loss per share attributable to SemiLEDs stockholders: Basic and diluted $ (0.18 ) $ (0.15 ) $ (0.55 ) $ (0.61 ) Shares used in computing net loss per share attributable to SemiLEDs stockholders: Basic and diluted 4,903 4,897 4,881 4,522 View source version on businesswire.com: https://www.businesswire.com/news/home/20231110883864/en/Contacts Christopher Lee Chief Financial Officer SemiLEDs Corporation +886-37-586788 investor@semileds.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
SemiLEDs Reports Fourth Quarter and Fiscal Year End 2023 Financial Results By: SemiLEDs Corporation via Business Wire November 10, 2023 at 04:00 AM EST 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 fourth quarter and full year of fiscal year 2023, ended August 31, 2023. Revenue for the fourth quarter of fiscal 2023 decreased to $1.5 million, compared to $1.7 million in the third quarter of fiscal 2023. GAAP net loss attributable to SemiLEDs stockholders for the fourth quarter of fiscal 2023 increased to $881 thousand, or $(0.18) per diluted share, compared to a net loss of $756 thousand, or $(0.15) per diluted share, in the third quarter of fiscal 2023. GAAP gross margin for the fourth quarter of fiscal 2023 decreased to 3%, compared to 14% for the third quarter of fiscal 2023. Operating margin for the fourth quarter of fiscal 2023 decreased to negative 73%, compared with negative 58% for the third quarter of fiscal 2023. The Company’s cash and cash equivalents were $2.6 million at August 31, 2023, compared to $3.0 million at the end of the third quarter of fiscal 2023. We expect revenue for the first quarter ending November 30, 2023 to be approximately $1.5 million +/- 10%. Revenues for fiscal year 2023 decreased to $6.0 million, compared to $7.1 million in fiscal year 2022. GAAP net loss attributable to SemiLEDs stockholders for fiscal year 2023 was $2.7 million, or $(0.55) per diluted share, compared to a net loss of $2.7 million, or $(0.61) per diluted share, in fiscal year 2022. GAAP gross margin for fiscal year 2023 decreased to 17%, compared with gross margin for fiscal year 2022 of 20%. Operating margin for fiscal year 2023 decreased to negative 57%, compared with negative 45% in fiscal year 2022. The Company’s cash and cash equivalents were $2.6 million as of August 31, 2023, compared to $4.3 million as of August 31, 2022. About SemiLEDs SemiLEDs develops, manufactures, and sells 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. Forward Looking Statements This press release contains statements that may constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, revenue expectations for the first quarter ending November 30, 2023, any statements about historical results that may suggest trends for SemiLEDs’ business; any statements of the plans, strategies and objectives of management for future operations; any statements of expectation or belief regarding recovery of the LED industry, market opportunities and other future events or technology developments; any statements regarding SemiLEDs’ position to capitalize on any market opportunities; and any statements of assumptions underlying any of the foregoing. These forward-looking statements are based on current expectations, estimates, forecasts and projections of future SemiLEDs’ or industry performance based on management’s judgment, beliefs, current trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. SemiLEDs’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) and other SemiLEDs filings with the SEC (which you may obtain for free at the SEC’s website at http://www.sec.gov) discuss some of the important risks and other factors that may affect SemiLEDs’ business, results of operations and financial condition. SemiLEDs undertakes no intent or obligation to publicly update or revise any of these forward looking statements, whether as a result of new information, future events or otherwise, except as required by law. SEMILEDS CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidated Balance Sheets (In thousands of U.S. dollars) August 31, August 31, 2023 2022 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 2,572 $ 4,274 Restricted cash and cash equivalents 78 82 Accounts receivable (including related parties), net 793 880 Inventories 4,022 3,784 Prepaid expenses and other current assets 129 123 Total current assets 7,594 9,143 Property, plant and equipment, net 3,233 4,139 Operating lease right of use assets 1,371 1,578 Intangible assets, net 97 102 Investments in unconsolidated entities 974 922 Other assets 186 170 TOTAL ASSETS $ 13,455 $ 16,054 LIABILITIES AND EQUITY CURRENT LIABILITIES: Current installments of long-term debt $ 5,042 $ 5,063 Accounts payable 436 286 Accrued expenses and other current liabilities 2,711 2,702 Other payable to related parties 1,374 1,061 Operating lease liabilities, current portion 139 143 Total current liabilities 9,702 9,255 Long-term debt, excluding current installments 1,327 1,866 Operating lease liabilities, less current portion 1,232 1,435 Total liabilities 12,261 12,556 Commitments and contingencies EQUITY: SemiLEDs stockholders’ equity Common stock — — Additional paid-in capital 184,246 183,711 Accumulated other comprehensive income 3,550 3,697 Accumulated deficit (186,645 ) (183,955 ) Total SemiLEDs stockholders’ equity 1,151 3,453 Noncontrolling interests 43 45 Total equity 1,194 3,498 TOTAL LIABILITIES AND EQUITY $ 13,455 $ 16,054 SEMILEDS CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidated Statements of Operations (In thousands of U.S. dollars and shares, except per share data) Three Months Ended Year Ended August 31, August 31, 2023 May 31, 2023 2023 2022 Revenues, net $ 1,453 $ 1,679 $ 5,979 $ 7,051 Cost of revenues 1,412 1,438 4,972 5,654 Gross profit 41 241 1,007 1,397 Operating expenses: Research and development 321 372 1,353 1,484 Selling, general and administrative 787 850 3,058 3,309 Gain on disposals of long-lived assets, net — — — (196 ) Total operating expenses 1,108 1,222 4,411 4,597 Loss from operations (1,067 ) (981 ) (3,404 ) (3,200 ) Other income (expenses): Impairment loss on investments (1 ) — (1 ) — Gain on disposals of investment — — — — Interest expenses, net (68 ) (67 ) (287 ) (369 ) Other income, net 288 295 1,054 1,485 Foreign currency transaction (loss) gain, net (32 ) (3 ) (52 ) (642 ) Total other income, net 187 225 714 474 Loss before income taxes (880 ) (756 ) (2,690 ) (2,726 ) Income tax expense — — — — Net loss (880 ) (756 ) (2,690 ) (2,726 ) Less: Net income (loss) attributable to noncontrolling interests 1 — — 18 Net loss attributable to SemiLEDs stockholders $ (881 ) $ (756 ) $ (2,690 ) $ (2,744 ) Net loss per share attributable to SemiLEDs stockholders: Basic and diluted $ (0.18 ) $ (0.15 ) $ (0.55 ) $ (0.61 ) Shares used in computing net loss per share attributable to SemiLEDs stockholders: Basic and diluted 4,903 4,897 4,881 4,522 View source version on businesswire.com: https://www.businesswire.com/news/home/20231110883864/en/Contacts Christopher Lee Chief Financial Officer SemiLEDs Corporation +886-37-586788 investor@semileds.com
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 fourth quarter and full year of fiscal year 2023, ended August 31, 2023. Revenue for the fourth quarter of fiscal 2023 decreased to $1.5 million, compared to $1.7 million in the third quarter of fiscal 2023. GAAP net loss attributable to SemiLEDs stockholders for the fourth quarter of fiscal 2023 increased to $881 thousand, or $(0.18) per diluted share, compared to a net loss of $756 thousand, or $(0.15) per diluted share, in the third quarter of fiscal 2023. GAAP gross margin for the fourth quarter of fiscal 2023 decreased to 3%, compared to 14% for the third quarter of fiscal 2023. Operating margin for the fourth quarter of fiscal 2023 decreased to negative 73%, compared with negative 58% for the third quarter of fiscal 2023. The Company’s cash and cash equivalents were $2.6 million at August 31, 2023, compared to $3.0 million at the end of the third quarter of fiscal 2023. We expect revenue for the first quarter ending November 30, 2023 to be approximately $1.5 million +/- 10%. Revenues for fiscal year 2023 decreased to $6.0 million, compared to $7.1 million in fiscal year 2022. GAAP net loss attributable to SemiLEDs stockholders for fiscal year 2023 was $2.7 million, or $(0.55) per diluted share, compared to a net loss of $2.7 million, or $(0.61) per diluted share, in fiscal year 2022. GAAP gross margin for fiscal year 2023 decreased to 17%, compared with gross margin for fiscal year 2022 of 20%. Operating margin for fiscal year 2023 decreased to negative 57%, compared with negative 45% in fiscal year 2022. The Company’s cash and cash equivalents were $2.6 million as of August 31, 2023, compared to $4.3 million as of August 31, 2022. About SemiLEDs SemiLEDs develops, manufactures, and sells 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. Forward Looking Statements This press release contains statements that may constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, revenue expectations for the first quarter ending November 30, 2023, any statements about historical results that may suggest trends for SemiLEDs’ business; any statements of the plans, strategies and objectives of management for future operations; any statements of expectation or belief regarding recovery of the LED industry, market opportunities and other future events or technology developments; any statements regarding SemiLEDs’ position to capitalize on any market opportunities; and any statements of assumptions underlying any of the foregoing. These forward-looking statements are based on current expectations, estimates, forecasts and projections of future SemiLEDs’ or industry performance based on management’s judgment, beliefs, current trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. SemiLEDs’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) and other SemiLEDs filings with the SEC (which you may obtain for free at the SEC’s website at http://www.sec.gov) discuss some of the important risks and other factors that may affect SemiLEDs’ business, results of operations and financial condition. SemiLEDs undertakes no intent or obligation to publicly update or revise any of these forward looking statements, whether as a result of new information, future events or otherwise, except as required by law. SEMILEDS CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidated Balance Sheets (In thousands of U.S. dollars) August 31, August 31, 2023 2022 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 2,572 $ 4,274 Restricted cash and cash equivalents 78 82 Accounts receivable (including related parties), net 793 880 Inventories 4,022 3,784 Prepaid expenses and other current assets 129 123 Total current assets 7,594 9,143 Property, plant and equipment, net 3,233 4,139 Operating lease right of use assets 1,371 1,578 Intangible assets, net 97 102 Investments in unconsolidated entities 974 922 Other assets 186 170 TOTAL ASSETS $ 13,455 $ 16,054 LIABILITIES AND EQUITY CURRENT LIABILITIES: Current installments of long-term debt $ 5,042 $ 5,063 Accounts payable 436 286 Accrued expenses and other current liabilities 2,711 2,702 Other payable to related parties 1,374 1,061 Operating lease liabilities, current portion 139 143 Total current liabilities 9,702 9,255 Long-term debt, excluding current installments 1,327 1,866 Operating lease liabilities, less current portion 1,232 1,435 Total liabilities 12,261 12,556 Commitments and contingencies EQUITY: SemiLEDs stockholders’ equity Common stock — — Additional paid-in capital 184,246 183,711 Accumulated other comprehensive income 3,550 3,697 Accumulated deficit (186,645 ) (183,955 ) Total SemiLEDs stockholders’ equity 1,151 3,453 Noncontrolling interests 43 45 Total equity 1,194 3,498 TOTAL LIABILITIES AND EQUITY $ 13,455 $ 16,054 SEMILEDS CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidated Statements of Operations (In thousands of U.S. dollars and shares, except per share data) Three Months Ended Year Ended August 31, August 31, 2023 May 31, 2023 2023 2022 Revenues, net $ 1,453 $ 1,679 $ 5,979 $ 7,051 Cost of revenues 1,412 1,438 4,972 5,654 Gross profit 41 241 1,007 1,397 Operating expenses: Research and development 321 372 1,353 1,484 Selling, general and administrative 787 850 3,058 3,309 Gain on disposals of long-lived assets, net — — — (196 ) Total operating expenses 1,108 1,222 4,411 4,597 Loss from operations (1,067 ) (981 ) (3,404 ) (3,200 ) Other income (expenses): Impairment loss on investments (1 ) — (1 ) — Gain on disposals of investment — — — — Interest expenses, net (68 ) (67 ) (287 ) (369 ) Other income, net 288 295 1,054 1,485 Foreign currency transaction (loss) gain, net (32 ) (3 ) (52 ) (642 ) Total other income, net 187 225 714 474 Loss before income taxes (880 ) (756 ) (2,690 ) (2,726 ) Income tax expense — — — — Net loss (880 ) (756 ) (2,690 ) (2,726 ) Less: Net income (loss) attributable to noncontrolling interests 1 — — 18 Net loss attributable to SemiLEDs stockholders $ (881 ) $ (756 ) $ (2,690 ) $ (2,744 ) Net loss per share attributable to SemiLEDs stockholders: Basic and diluted $ (0.18 ) $ (0.15 ) $ (0.55 ) $ (0.61 ) Shares used in computing net loss per share attributable to SemiLEDs stockholders: Basic and diluted 4,903 4,897 4,881 4,522 View source version on businesswire.com: https://www.businesswire.com/news/home/20231110883864/en/