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Wednesday, June 23, 2021

SemiLEDs Corporation (LEDS) Stock faced negativity after the recent announcement

SemiLEDs Corporation (LEDS) Stock lost 10.83% in the extended trading session on Thursday, April 8, 2021, despite a good start in the morning. The LEDS gained 9.66% in the morning session on Thursday.


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Let’s see what could be the reason behind its U-turn on Thursday.

Recent Financial results announcement

On April 8, 2021, SemiLEDs Corporation reported its financial results for the second quarter of the fiscal year 2021, which ended on February 28, 2021.

Second-quarter financial highlights

  • SemiLEDs revenue for the reported quarter was $1.2 million compared to $719 thousand in the first quarter of 2021.
  • The stockholders of SemiLEDs suffered a GAAP net loss of $255 thousand or a net loss of $0.06 per diluted share in the reported quarter compared to a loss of $697 thousand or $0.17 per diluted share in the first quarter of fiscal 2021.
  • SemiLEDsGAAP gross margin was 20% for the reported quarter compared with a gross margin of negative 3%for the first quarter of fiscal 2021.
  • The operating margin was negative 42%, for the second quarter of fiscal 2021 compared with negative 135% in the first quarter of fiscal 2021.
  • As of February 28, 2021, Company’s cash and cash equivalents were $2.1 million, compared to $2.7 million at the end of the first quarter of fiscal 2021.

On November 12, 2020, SemiLEDs announced its financial results for the fourth quarter and full year of the fiscal year 2020, ended August 31, 2020.

The fiscal year 2020 highlights

  • For the fiscal year 2020, revenues were $6.1 million compared to $5.9 million in the fiscal year 2019.
  • SemiLEDs stockholders suffered a GAAP net loss of $544 thousand or a net loss of $0.15 per diluted share in the year 2020 compared to a loss of $3.6 million or a net loss of $1.00 per diluted share for the fiscal year 2019.
  • For the fiscal year 2020, GAAP gross margin was 26%, compared with a gross margin of 8% for the fiscal year 2019.
  • The operating margin for the fiscal year 2020 was negative 34%, compared with negative 62% in the fiscal year 2019.

Fourth-quarter financial highlights

  • For the reported quarter, revenues were $1.4 million.
  • GAAP net loss attributable to SemiLEDs stockholders for the fourth quarter of the fiscal year 2020 was $62 thousand or a net loss of $0.02 per diluted share.
  • GAAP gross margin for the fourth quarter of the fiscal year 2020 was 8%.
  • For the fourth quarter, the operating margin of the fiscal year 2020 was negative 28%.
  • As of August 31, 2020, the Company’s cash and cash equivalents, excluding restricted cash, was $2.8 million.

About SemiLEDs

SemiLEDs Corporation incorporated in Delaware in January 2005. SemiLEDs is a manufacturer of ultra-high brightness LED chips with state of the art fabrication facilities in Hsinchu Science Park, Taiwan.

Conclusion

The recent financial results were unable to impress the investors which resulted in a 10.83% loss in the evening session.

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