SemiLEDs Reports Third Quarter Fiscal Year 2024 Financial Results and Engages Financial Advisor
HSINCHU,
Revenue for the third quarter of fiscal 2024 increased to
GAAP gross margin for the third quarter of fiscal 2024 increased to 41%, compared to 13% for the second quarter of fiscal 2024. Operating margin for the third quarter of fiscal 2024 was negative 36%, compared with negative 94% for the second quarter of fiscal 2024. The Company’s cash and cash equivalents were
We expect revenue for the fourth quarter ending
The Company has engaged
About
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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Unaudited Condensed Consolidated Balance Sheets |
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(In thousands of |
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|
|
|
|
|
|
||||
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|
2024 |
|
|
2024 |
|
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||
ASSETS |
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|
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CURRENT ASSETS: |
|
|
|
|
|
||||
Cash and cash equivalents |
|
$ |
1,676 |
|
|
$ |
1,613 |
|
|
Restricted cash and cash equivalents |
|
|
77 |
|
|
|
79 |
|
|
Accounts receivable (including related parties), net |
|
|
668 |
|
|
|
748 |
|
|
Inventories |
|
|
3,673 |
|
|
|
3,751 |
|
|
Prepaid expenses and other current assets |
|
|
282 |
|
|
|
245 |
|
|
Total current assets |
|
|
6,376 |
|
|
|
6,436 |
|
|
Property, plant and equipment, net |
|
|
2,788 |
|
|
|
2,996 |
|
|
Operating lease right of use assets |
|
|
1,109 |
|
|
|
1,313 |
|
|
Intangible assets, net |
|
|
91 |
|
|
|
96 |
|
|
Investments in unconsolidated entities |
|
|
957 |
|
|
|
986 |
|
|
Other assets |
|
|
190 |
|
|
|
192 |
|
|
TOTAL ASSETS |
|
$ |
11,511 |
|
|
$ |
12,019 |
|
|
LIABILITIES AND EQUITY |
|
|
|
|
|
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CURRENT LIABILITIES: |
|
|
|
|
|
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Current installments of long-term debt |
|
$ |
2,848 |
|
|
$ |
2,859 |
|
|
Accounts payable |
|
|
203 |
|
|
|
179 |
|
|
Accrued expenses and other current liabilities |
|
|
2,665 |
|
|
|
2,562 |
|
|
Other payable to related parties |
|
|
952 |
|
|
|
904 |
|
|
Operating lease liabilities, current |
|
|
108 |
|
|
|
132 |
|
|
Total current liabilities |
|
|
6,776 |
|
|
|
6,636 |
|
|
Long-term debt, excluding current installments |
|
|
969 |
|
|
|
1,110 |
|
|
Operating lease liabilities, less current portion |
|
|
1,001 |
|
|
|
1,181 |
|
|
Total liabilities |
|
|
8,746 |
|
|
|
8,927 |
|
|
Commitments and contingencies |
|
|
|
|
|
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EQUITY: |
|
|
|
|
|
||||
|
|
|
|
|
|
||||
Common stock |
|
|
— |
|
|
|
— |
|
|
Additional paid-in capital |
|
|
187,306 |
|
|
|
187,275 |
|
|
Accumulated other comprehensive income |
|
|
3,530 |
|
|
|
3,571 |
|
|
Accumulated deficit |
|
|
(188,121 |
) |
|
|
(187,802 |
) |
|
Total |
|
|
2,715 |
|
|
|
3,044 |
|
|
Noncontrolling interests |
|
|
50 |
|
|
|
48 |
|
|
Total equity |
|
|
2,765 |
|
|
|
3,092 |
|
|
TOTAL LIABILITIES AND EQUITY |
|
$ |
11,511 |
|
|
$ |
12,019 |
|
|
SEMILEDS CORPORATION AND SUBSIDIARIES |
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Unaudited Condensed Consolidated Statements of Operations |
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(In thousands of |
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|
|
Three Months Ended |
|
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|
|
|
|
|
|
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|
|
2024 |
|
|
2024 |
|
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||
Revenues, net |
|
$ |
1,323 |
|
|
$ |
886 |
|
|
Cost of revenues |
|
|
780 |
|
|
|
774 |
|
|
Gross profit |
|
|
543 |
|
|
|
112 |
|
|
Operating expenses: |
|
|
|
|
|
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Research and development |
|
|
320 |
|
|
|
251 |
|
|
Selling, general and administrative |
|
|
696 |
|
|
|
693 |
|
|
Total operating expenses |
|
|
1,016 |
|
|
|
944 |
|
|
Loss from operations |
|
|
(473 |
) |
|
|
(832 |
) |
|
Other income (expenses): |
|
|
|
|
|
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Investment loss from unconsolidated entities |
|
|
(3 |
) |
|
|
(5 |
) |
|
Interest expenses, net |
|
|
(58 |
) |
|
|
(65 |
) |
|
Other income, net |
|
|
277 |
|
|
|
377 |
|
|
Foreign currency transaction loss, net |
|
|
(59 |
) |
|
|
(32 |
) |
|
Total other income, net |
|
|
157 |
|
|
|
275 |
|
|
Loss before income taxes |
|
|
(316 |
) |
|
|
(557 |
) |
|
Income tax expense |
|
|
— |
|
|
|
— |
|
|
Net loss |
|
|
(316 |
) |
|
|
(557 |
) |
|
Less: Net income attributable to noncontrolling interests |
|
|
3 |
|
|
|
2 |
|
|
Net loss attributable to |
|
$ |
(319 |
) |
|
$ |
(559 |
) |
|
Net loss per share attributable to |
|
|
|
|
|
||||
Basic and diluted |
|
$ |
(0.06 |
) |
|
$ |
(0.11 |
) |
|
Shares used in computing net loss per share attributable to |
|
|
|
|
|
||||
Basic and diluted |
|
|
4,914 |
|
|
|
4,905 |
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20240708812696/en/
Chief Financial Officer
+886-37-586788
investor@semileds
Source: