SemiLEDs Corp Reports Q3 Results

LED chips and components developer SemiLEDs Corp LEDS reported that third-quarter FY21 revenue declined 12.5% year-on-year to $1.4 million.
The gross margin expanded 1,900 basis points to 46%.
The operating margin loss contracted 600 basis points to (41)%.
It held $1.7 million in cash and equivalents at May 31, 2021.
EPS loss was $(0.02).
SemiLEDs said it is unable to provide a revenue forecast for the fourth quarter at this time, citing the continuing uncertain impact of COVID-19 on the economy and the company.
Price action: LEDS shares traded higher by 5.89% at $16.89 in the premarket session on the last check Tuesday.

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