- SemiLEDs (LEDS) guides in its prepared remarks (.pdf) for FQ3 (May quarter) revenue of $4.3M-$4.8M; the sole analyst covering the company is expecting $5.03M.
- Thanks to inventory write-downs, FQ2 GAAP gross margin was -75%, a little worse than FQ1's -68%. Nonetheless, inventory only fell by $533K Q/Q to $10.8M (over 2x expected FQ3 revenue).
- SG&A spend fell 14% Y/Y to $2.26M, R&D spend rose 8% to $1.2M. The company's cash balance fell to $21.5M at the end of FQ2 from $28.1M at the end of FQ1.
- LED chip sales +117% Q/Q and 51% of revenue. LED components +6% and 30% of revenue. Lighting products -43% and 17% of revenue. SemiLEDs sees a shift towards LED component/packaging product sales relative to chip sales providing a margin boost going forward.
- FQ2 results, PR