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SemiLEDs’ fourth quarter and fiscal year end 2017 financial results

SemiLEDs' fourth quarter and fiscal year end 2017 financial results

Nov 27, 2017: SemiLEDs Corporation , a developer and manufacturer of LED chips and LED components, announced its financial results for the fourth quarter and full year of fiscal year 2017, ended August 31, 2017.

Revenue for the fourth quarter of fiscal 2017 was $2.6 million, a 22% increase compared to $2.1 million in the third quarter of fiscal 2017. GAAP net loss attributable to SemiLEDs stockholders for the fourth quarter of fiscal 2017 was $0.7 million, compared to a loss of $1.6 million in the third quarter of 2017, or a net loss of $0.19 per diluted share, compared to a net loss of $0.45 per diluted share for the third quarter of fiscal 2017.

GAAP gross margin for the fourth quarter of fiscal 2017 was 6%, compared with gross margin for the third quarter of fiscal 2017 of negative 9%. Operating margin for the fourth quarter of fiscal 2017 was negative 31%, compared with negative 61% in the third quarter of fiscal 2017. The Company’s cash and cash equivalents was $3.6 million as of August 31, 2017, compared to $3.1 million at the end of the third quarter of fiscal 2017. The net cash inflows in operating activities was $0.5 million in the fourth quarter of fiscal 2017, compared with net cash outflows $0.9 million in the third quarter of fiscal 2017.

We expect revenue for the first quarter ending November 30, 2017 to be $2.1 million +/- 15%.

Revenue for the fiscal year 2017 was $9.2 million, a 9% decrease compared to $10.1 million in the fiscal year 2016. GAAP net loss attributable to SemiLEDs stockholders for the fiscal year 2017 was $4.1 million, compared to a loss of $21.3 million in the fiscal year 2016 or a net loss of $1.16 per diluted share, compared to a net loss of $7.25 per diluted share for the fiscal year 2016.

GAAP gross margin for the fiscal year 2017 was 1%, compared with gross margin for the fiscal year 2016 of negative 49%. Operating margin for the fiscal year 2017 was negative 47%, compared with negative 203% in the fiscal year 2017. The Company’s cash and cash equivalents was $3.6 million as of August 31, 2017, compared to $6.0 million as of August 31, 2016. The net cash outflows in operating activities was $2.1 million in the fiscal year 2017, compared with net cash outflows $3.4 million in the fiscal year 2016.

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