Financial Performance - Revenue for the first quarter of fiscal 2024 increased to 1.5 million in the fourth quarter of fiscal 2023, reflecting a growth of approximately 13.3% [2] - GAAP net loss attributable to SemiLEDs stockholders decreased to (0.12) per diluted share, compared to a net loss of (0.18) per diluted share, in the previous quarter [2][8] - GAAP gross margin for the first quarter of fiscal 2024 increased to 15%, up from 3% in the fourth quarter of fiscal 2023, indicating improved profitability [2] - Operating margin for the first quarter of fiscal 2024 was negative 50%, an improvement from negative 73% in the fourth quarter of fiscal 2023 [2] Balance Sheet Highlights - Cash and cash equivalents were 2.6 million at the end of the previous quarter [2] - Total current assets decreased to 7.594 million [7] - Total assets decreased to 13.455 million [7] Future Outlook - Revenue for the second quarter ending February 29, 2024, is expected to be approximately $1.1 million, with a variance of +/- 10% [3] - The company will close its office and factory from February 3, 2024, until February 18, 2024, for the Chinese New Year [3] Company Overview - SemiLEDs develops, manufactures, and sells LED chips and components for various applications, including general lighting, ultraviolet curing, and architectural lighting [4]
SemiLEDs Reports First Quarter Fiscal Year 2024 Financial Results