SemiLEDs Reports Third Quarter Fiscal Year 2023 Financial Results
HSINCHU,
Revenue for the third quarter of fiscal 2023 increased to
GAAP gross margin for the third quarter of fiscal 2023 decreased to
We expect revenue for the fourth quarter ending August 31, 2023 to be approximately
About SemiLEDs
SemiLEDs develops and manufactures 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
SEMILEDS CORPORATION AND SUBSIDIARIES
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May 31, |
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February 28, |
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2023 |
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2023 |
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ASSETS |
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CURRENT ASSETS: |
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Cash and cash equivalents |
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$ |
3,041 |
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$ |
3,859 |
|
Restricted cash and cash equivalents |
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81 |
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82 |
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Accounts receivable (including related parties), net |
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981 |
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530 |
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Inventories |
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4,207 |
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|
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4,259 |
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Prepaid expenses and other current assets |
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160 |
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|
|
145 |
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Total current assets |
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8,470 |
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8,875 |
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Property, plant and equipment, net |
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3,360 |
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3,630 |
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Operating lease right of use assets |
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1,456 |
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1,505 |
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Intangible assets, net |
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98 |
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|
95 |
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Investments in unconsolidated entities |
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913 |
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|
921 |
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Other assets |
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286 |
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|
|
170 |
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TOTAL ASSETS |
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$ |
14,583 |
|
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$ |
15,196 |
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LIABILITIES AND EQUITY |
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CURRENT LIABILITIES: |
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Current installments of long-term debt |
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$ |
5,072 |
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$ |
5,071 |
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Accounts payable |
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|
544 |
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|
508 |
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Accrued expenses and other current liabilities |
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2,690 |
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|
|
2,587 |
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Other payable to related parties |
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|
1,298 |
|
|
|
1,221 |
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Operating lease liabilities, current |
|
|
144 |
|
|
|
144 |
|
Total current liabilities |
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9,748 |
|
|
|
9,531 |
|
Long-term debt, excluding current installments |
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1,493 |
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|
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1,626 |
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Operating lease liabilities, less current portion |
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1,312 |
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|
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1,361 |
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Total liabilities |
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12,553 |
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|
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12,518 |
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Commitments and contingencies |
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EQUITY: |
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SemiLEDs stockholders’ equity |
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Common stock |
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— |
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— |
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Additional paid-in capital |
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184,092 |
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183,951 |
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Accumulated other comprehensive income |
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3,658 |
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3,691 |
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Accumulated deficit |
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(185,764 |
) |
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(185,008 |
) |
Total SemiLEDs stockholders' equity |
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1,986 |
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2,634 |
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Noncontrolling interests |
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44 |
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|
44 |
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Total equity |
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2,030 |
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|
|
2,678 |
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TOTAL LIABILITIES AND EQUITY |
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$ |
14,583 |
|
|
$ |
15,196 |
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SEMILEDS CORPORATION AND SUBSIDIARIES
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Three Months Ended |
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May 31, |
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February 28, |
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2023 |
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2023 |
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Revenues, net |
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$ |
1,679 |
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$ |
1,152 |
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Cost of revenues |
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1,438 |
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|
|
890 |
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Gross profit |
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|
241 |
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|
262 |
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Operating expenses: |
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Research and development |
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372 |
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|
|
295 |
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Selling, general and administrative |
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|
850 |
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|
669 |
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Total operating expenses |
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1,222 |
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|
|
964 |
|
Loss from operations |
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(981 |
) |
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(702 |
) |
Other income (expenses): |
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Interest expenses, net |
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(67 |
) |
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(65 |
) |
Other income, net |
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295 |
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|
|
229 |
|
Foreign currency transaction loss, net |
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(3 |
) |
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(7 |
) |
Total other income, net |
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225 |
|
|
|
157 |
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Loss before income taxes |
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(756 |
) |
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|
(545 |
) |
Income tax expense |
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— |
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— |
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Net loss |
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(756 |
) |
|
|
(545 |
) |
Less: Net gain (loss) attributable to noncontrolling interests |
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— |
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|
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(4 |
) |
Net loss attributable to SemiLEDs stockholders |
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$ |
(756 |
) |
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$ |
(541 |
) |
Net loss per share attributable to SemiLEDs stockholders: |
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Basic and diluted |
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$ |
(0.15 |
) |
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$ |
(0.11 |
) |
Shares used in computing net loss per share attributable to SemiLEDs stockholders: |
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Basic and diluted |
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4,897 |
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4,866 |
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230707242542/en/
Christopher Lee
Chief Financial Officer
SemiLEDs Corporation
+886-37-586788
investor@semileds.com
Source: SemiLEDs Corporation