SemiLEDs Earnings: Here’s Why Investors are Not Happy Now
SemiLEDs Corporation (NASDAQ:LEDS) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 10.49%.
SemiLEDs Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.19 in the quarter versus EPS of $-0.22 in the year-earlier quarter.
Revenue: Decreased 39.32% to $4.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: SemiLEDs Corporation reported adjusted EPS loss of $0.19 per share. By that measure, the company beat the mean analyst estimate of $-0.24. It missed the average revenue estimate of $5.36 million.
Quoting Management: “Demand has improved; however, the pricing environment for the general lighting market remains challenging,” said Trung Doan, Chairman, President and CEO. “I believe we are on the right track and this is a turning point for SemiLEDs. From an execution standpoint, we need to focus on profitable markets and control cost,” concluded Doan.
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