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Technology News Alert: SemiLEDs Corporation (NASDAQ: LEDS)

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SemiLEDs Corporation (NASDAQ: LEDS), a developer and maker of LED chips and LED parts, recently declared its financial results for the 1st-quarter of fiscal year 2018, finished November 30, 2K17.

Revenue for the 1st-quarter of fiscal 2018 was $2.00M, a 22.00% decline contrast to $2.60M in the 4th-quarter of fiscal 2K17.

GAAP net loss for the 1st-quarter of fiscal 2018 was $0.40M, a contrast to a loss of $0.70M in the 4th-quarter of 2K17, or a net loss of $0.110 for each diluted share, a contrast to a net loss of $0.190 for each diluted share for the 4th-quarter of fiscal 2K17.

GAAP gross margin for the 1st-quarter of fiscal 2018 was 3.00%, contrast with gross margin for the 4th-quarter of fiscal 2K17 of 6.00%.

Operating margin for the 1st-quarter of fiscal 2018 was negative 43.00%, contrast with negative 31.00% in the 4th-quarter of fiscal 2K17.

The Company’s cash and cash equivalents were $3.40M at November 30, 2K17, contrast to $3.60M at the end of fiscal 2K17.

We expect revenue for the 2nd-quarter ending February 28, 2018 to be about $1.60M +/- 10.00%.

As part of our cost reduction efforts, throughout the 2nd-quarter ending February 28, 2018, we intend to move and consolidate our LED packaging facility to our headquarters in Chunan, Taiwan.

The Chinese New Year of 2018 will start on February 15, 2018. Our office and factory in Chunan will be closed from February 10, 2018 until February 25, 2018 and will resume operations on Monday, February 26, 2018.