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SemiLEDs fiscal Q1 loss narrows YOY

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SemiLEDs fiscal Q1 loss narrows YOY

SemiLEDs Corp. said its normalized net income for the fiscal first quarter ended Nov. 30, 2015, came to a loss of 71 cents per share, compared with a loss of 95 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.1 million, compared with a loss of $2.7 million in the year-earlier period.

The normalized profit margin rose to negative 69.8% from negative 91.9% in the year-earlier period.

Total revenue grew year over year to $3.0 million from $2.9 million, and total operating expenses decreased 17.3% on an annual basis to $6.1 million from $7.4 million.

Reported net income came to a loss of $3.3 million, or a loss of $1.14 per share, compared to a loss of $4.3 million, or a loss of $1.52 per share, in the year-earlier period.