HSINCHU, Taiwan — SemiLEDs Corporation “SemiLEDs” or the “Company,” a developer and manufacturer of LED chips and LED components, announced its financial results for the first quarter of fiscal year 2024, ended November 30, 2023.
Revenue for the first quarter of fiscal 2024 increased to $1.6 million, compared to $1.5 million in the fourth quarter of fiscal 2023. GAAP net loss attributable to SemiLEDs stockholders for the first quarter of fiscal 2024 decreased to $598 thousand, or $(0.12) per diluted share, compared to a net loss of $881 thousand, or $(0.18) per diluted share, in the fourth quarter of fiscal 2023.
GAAP gross margin for the first quarter of fiscal 2024 increased to 15%, compared to 3% for the fourth quarter of fiscal 2023. Operating margin for the first quarter of fiscal 2024 was negative 50%, compared with negative 73% for the fourth quarter of fiscal 2023. The Company’s cash and cash equivalents were $2.3 million at November 30, 2023, compared to $2.6 million at the end of the fourth quarter of fiscal 2023.
“We expect revenue for the second quarter ending February 29, 2024 to be approximately $1.1 million +/- 10%.”
The Chinese New Year (CNY) of 2024 will begin on February 3, 2024. The office and factory in Chunan will be closed from February 3, 2024 until February 18, 2024 and will resume operations on Monday, February 19, 2024.
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