SemiLEDs Posts Loss In Q2 - Quick Facts

(RTTNews) - Taiwanese semiconductor company SemiLEDs Corp (LEDS) Monday reported second-quarter net loss to stockholders of $6.4 million or $0.23 per share, compared with a loss of $6.3 million or $0.23 per share in the sequential first quarter.

Excluding items, adjusted loss for the quarter was $5.9 million or $0.21 per share.

Revenue for the quarter was $4.2 million, up 22% from $3.4 million in the sequential first quarter.

Results were mainly hurt by gross margin that was negative 75% for the quarter, compared with negative 68% in the prior quarter, due mainly to inventory write-downs as a result of increasing pricing pressure for LED chips, and excess capacity charges.

The company said it continues to take actions to reduce cost and lower negative cash flow while reorienting the business toward more profitable and specialty segments of the industry, such as UV, entertainment and architecture.