HSINCHU, Taiwan--(BUSINESS WIRE)--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 fourth quarter and full year of fiscal year 2020, ended August 31, 2020.

Revenues for the fourth quarter of fiscal year 2020 were $1.4 million, a 12% decrease compared to $1.6 million in the third quarter of fiscal year 2020. GAAP net loss attributable to SemiLEDs stockholders for the fourth quarter of fiscal year 2020 was $62 thousand, compared to a loss of $513 thousand in the third quarter of fiscal year 2020, or a net loss of $0.02 per diluted share, compared to a net loss of $0.14 per diluted share for the third quarter of fiscal year 2020.

GAAP gross margin for the fourth quarter of fiscal year 2020 was 8%, compared with gross margin for the third quarter of fiscal year 2020 of 27%. Operating margin for the fourth quarter of fiscal year 2020 was negative 28%, compared with negative 47% in the third quarter of fiscal year 2020. The Company�s cash and cash equivalents, excluding restricted cash, was $2.8 million as of August 31, 2020, compared to $2.5 million at the end of the third quarter of fiscal year 2020.

We are unable to forecast revenue for the first quarter ending November 30, 2020 at this time given the uncertain impact of COVID-19 on the global economy and the Company.

Revenues for fiscal year 2020 were $6.1 million, a 3% increase compared to $5.9 million in fiscal year 2019. GAAP net loss attributable to SemiLEDs stockholders for fiscal year 2020 was $544 thousand, compared to a loss of $3.6 million in fiscal year 2019 or a net loss of $0.15 per diluted share, compared to a net loss of $1.00 per diluted share for fiscal year 2019.

GAAP gross margin for the fiscal year 2020 was 26%, compared with gross margin for the fiscal year 2019 of 8%. Operating margin for the fiscal year 2020 was negative 34%, compared with negative 62% in the fiscal year 2019. The Company�s cash and cash equivalents, excluding restricted cash, was $2.8 million as of August 31, 2020, compared to $1.4 million as of August 31, 2019.

About SemiLEDs

SemiLEDs develops and manufactures LED chips and LED components for general lighting applications, including street lights and commercial, industrial, system and residential lighting, along with specialty industrial applications such as ultraviolet (UV) curing, medical/cosmetic, counterfeit detection, horticulture, architectural lighting and entertainment lighting. SemiLEDs sells blue, white, green and UV LED chips.

Forward Looking Statements

This press release contains statements that may constitute �forward-looking� statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, any statements about historical results that may suggest trends for SemiLEDs� business; and any statements of assumptions underlying any of the foregoing. These forward-looking statements are based on current expectations, estimates, forecasts and projections of future SemiLEDs� or industry performance based on management�s judgment, beliefs, current trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. SemiLEDs� Annual Report on Form 10-K filed with the Securities and Exchange Commission (the �SEC�) and other SemiLEDs filings with the SEC (which you may obtain for free at the SEC�s website at http://www.sec.gov) discuss some of the important risks and other factors that may affect SemiLEDs� business, results of operations and financial condition. SemiLEDs undertakes no intent or obligation to publicly update or revise any of these forward looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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Contacts

Christopher Lee

Chief Financial Officer

SemiLEDs Corporation

+886-37-586788

[email protected]