SemiLEDs, a developer and manufacturer of LED chips and LED components, has announced its financial results for the first quarter of fiscal year 2015, ending November 30, 2014.
Revenues for the first quarter of fiscal 2015 were US$2.9 million, a 29% increase compared to US$2.3 million in the fourth quarter of fiscal 2014. GAAP net loss attributable to SemiLEDs stockholders for the first quarter of fiscal 2015 was US$4.3 million, or a net loss of US$0.15 per diluted share, compared to GAAP net loss attributable to SemiLEDs stockholders of US$5.4 million, or a net loss of US$0.19 per diluted share, for the fourth quarter of fiscal 2014.
On a non-GAAP basis, net loss attributable to SemiLEDs stockholders for the first quarter of fiscal 2015 was US$3.9 million, or a net loss of US$0.14 per diluted share, compared to non-GAAP net loss attributable to SemiLEDs stockholders of US$5 million, or a net loss of US$0.17 per diluted share for the fourth quarter of fiscal 2014.
GAAP gross margin for the first quarter of fiscal 2015 was negative 53%, compared with gross margin for the fourth quarter of fiscal 2014 of negative 134%. Operating margin for the first quarter of fiscal 2015 was negative 152%, compared with negative 251% in the fourth quarter of fiscal 2014. The company's cash and cash equivalents were US$8.7 million at the end of the first quarter of fiscal 2015, compared to the fourth quarter fiscal 2014 ending balance of US$12.6 million. Cash used in operating activities was US$2.7 million in the first quarter of fiscal 2015.
