SemiLEDs Corporation (NASDAQ: LEDS), "SemiLEDs" or the "Company," a developer and manufacturer of LED chips and LED components, today announced its financial results for the first quarter of fiscal year 2015, ended November 30, 2014.
Revenue for the first quarter of fiscal 2015 was $2.9 million, a 29% increase compared to $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 $4.3 million, or a net loss of $0.15 per diluted share, compared to GAAP net loss attributable to SemiLEDs stockholders of $5.4 million, or a net loss of $0.19 per diluted share, for the fourth quarter of fiscal 2014.
"Results during the first quarter were in line with our guidance," said Trung Doan, Chairman, President and CEO. "With our facility consolidation now concluded and new design wins in our target markets, we look forward to realizing further benefits from these efforts in the second fiscal quarter," concluded Doan.
On a non-GAAP basis, net loss attributable to SemiLEDs stockholders for the first quarter of fiscal 2015 was $3.9 million, or a net loss of $0.14 per diluted share, compared to non-GAAP net loss attributable to SemiLEDs stockholders of $5.0 million, or a net loss of $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 $8.7 million at the end of the first quarter of fiscal 2015, compared to the fourth quarter fiscal 2014 ending balance of $12.6 million. Cash used in operating activities was $2.7 million in the first quarter of fiscal 2015.
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