SemiLEDs Corporation (NASDAQ:LEDS) shares lose by 15.85%


Dallas, Texas 07/12/2013 (Financialstrend) – SemiLEDs Corporation (NASDAQ:LEDS) is a producer and manufacturer of LED chips and components. The company reported its third quarter financial results, posting revenue of $3.5 million down 62% compared to the $9.2 million revenue generated in the third quarter of the fiscal 2012.  Net loss for the shareholders for the third quarter of 2013 stands at $11.0 million. The company’s GAAP-adjusted gross margin for the third quarter of fiscal 2013 was negative 129%, compared to 11% positive gross margin for the third quarter of fiscal 2012. Operating margin for the third quarter in 2013 is 278%, higher compared to the 87% reported for the previous year. Margins for the third quarter of fiscal 2013 were negative because of the reduction in revenues, excess capacity charges imposed for the LED chips of the company, as well as impairment charges on goodwill. The company is engaged in production of street lights and commercial, industrial and residential lighting. SemiLEDs sells blue, green and UV LED chips. The company’s LED chips are used in the industrial applications, curing of polymers, counterfeit detection and in horticulture applications. The company recently launched New Enhanced Vertical, LED product series in blue, green and UV.

SemiLEDs Corporation (NASDAQ:LEDS) closed at $1.38 on Thursday, recording a decline of 15.85% in the share price for the day. The stock price fluctuated from a low value of $1.26 to a high one of $1.44 per share. The company currently has a 52-week low of $0.60 and a 52-week high of $2.68 per share. LEDS currently has 27.54 million outstanding shares in the market with institutional ownership of 10% of its total equity capital. Trading volume amounted to 1.68 million shares on Thursday, with an average one for LEDS at 771,650 shares per day.