SemiLEDs Corporation has released its financial results for the first quarter of the fiscal year 2023, ending November 30, 2022. The Taiwanese developer and manufacturer of LED chips and components saw revenue of $1.7 million in the first quarter, a slight increase from the $1.6 million recorded in the fourth quarter of fiscal 2022.
Despite the increase in revenue, the company still recorded a GAAP net loss of $512,000 for the first quarter, though this was an improvement on the $1.1 million loss in the previous quarter. The company’s GAAP gross margin also improved, coming in at 27% for the first quarter compared to 21% in the fourth quarter of fiscal 2022. Operating margin also saw an improvement, coming in at negative 39% for the first quarter compared to negative 66% in the fourth quarter.
SemiLEDs’ cash and cash equivalents were $4.5 million at the end of November 2022, an increase from the $4.3 million recorded at the end of fiscal 2022. However, the company has stated that it is unable to forecast revenue for the second quarter ending February 28, 2023, due to the uncertain impact of COVID-19 on the economy.
The company’s office and factory in Chunan will be closed for the Chinese New Year holiday from January 20-29, 2023, and will resume operations on January 30, 2023. SemiLEDs develops and manufactures LED chips and components for a variety of applications, including general lighting, ultraviolet curing, medical and cosmetic use, counterfeit detection, horticulture, architectural lighting, and entertainment lighting. The company sells blue, white, green, and ultraviolet LED chips.