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SemiLEDs fiscal Q2 loss narrows YOY

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SemiLEDs fiscal Q2 loss narrows YOY

SemiLEDs Corp. said its normalized net income for the fiscal second quarter ended Feb. 29 was a loss of 51 cents per share, compared with a loss of 70 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 $1.5 million, compared with a loss of $2.0 million in the year-earlier period.

The normalized profit margin declined to negative 51.1% from negative 43.6% in the year-earlier period.

Total revenue declined 36.1% year over year to $2.9 million from $4.6 million, and total operating expenses declined 28.2% on an annual basis to $5.5 million from $7.7 million.

Reported net income totaled a loss of $2.5 million, or a loss of 87 cents per share, compared to a loss of $2.9 million, or a loss of $1.02 per share, in the year-earlier period.