SemiLEDs reports Q2 financials; stock rises

Taiwan-based led chip and component maker SemiLEDs Corp. (NASDAQ: LEDS) reported its financial results for the 2019 fiscal second quarter that ended on February 28, 2019. SemiLEDs stock rose more than 5% in the extended hours of trading today. Shares of SemiLEDs plunged 17.25% to $4.46 when the market closed today.

For the second quarter of fiscal 2019, the company reported a GAAP loss of $847,000 or $0.24 per share on revenue of $1.6 million. SemiLEDs had projected second quarter revenue to be about $1.5 million plus or minus 10% when it announced the first quarter results in early January.

For the third quarter ending May 31, 2019, the company expects revenue to be about $1.6 million plus or minus 10%.

During Q2, SemiLEDs closed its manufacturing production for two weeks due to the Chinese New Year holiday.

GAAP gross margin for the second quarter of fiscal 2019 was breakeven and the operating margin was negative 56%. Cash and cash equivalents stood at $1.6 million at February 28, 2019, compared to $2.6 million at the end of the first quarter of fiscal 2019.

Shares of SemiLEDs have gained 65% since the beginning of this year and 4% in the past 12 months period.

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