News: LEDs
4 April 2024
SemiLEDs revenue halves quarter-to-quarter
For its fiscal second-quarter 2024 (to end-February), LED chip and component maker SemiLEDs Corp of Hsinchu, Taiwan has reported revenue of $886,000 (almost halving from $1.65m last quarter). However, this included the period 3–18 February, when SemiLEDs shut down its manufacturing production due to the Chinese New Year holiday.
Gross margin fell from 15% to 13%. Operating margin was –94%, compared with –50% last quarter.
Despite this, net loss has been cut further, from $598,000 ($0.12 per diluted share) last quarter to $559,000 ($0.11 per diluted share). During the quarter, cash and cash equivalents fell from $2.322m to $1.613m.
For fiscal third-quarter 2024 (to end-May), SemiLEDs expects revenue to rebound to about $1m+/-10%.
On 11 July 2023, SemiLEDs received a notice from The NASDAQ Stock Market indicating that it did not meet the minimum of $2.5m in stockholders’ equity required by Nasdaq Listing Rule 5550(b)(1) for continued listing, or the alternatives of market value of listed securities or net income from continuing operations. Pursuant to the Listing Rule, SemiLEDs submitted a plan to regain compliance. Nasdaq accepted the plan and granted the firm an extension through 8 January 2024. Based on the firm’s Form 8-K dated 9 January 2024, Nasdaq determined that it complied with the Listing Rule 5550(b)(1). However, if SemiLEDs fails to evidence compliance upon filing its next periodic report, it may be subject to delisting. Based on fiscal second-quarter stockholders’ equity, SemiLEDs believes that it in compliance with the minimum stockholders’ equity requirement.
SemiLEDs’ quarterly revenue rebounds to $1.65m
SemiLEDs receives Nasdaq non-compliance notice
SemiLEDs revenue rebounds from last quarter’s dip
