SemiLEDs Earnings: Here’s Why Investors Don’t Like These Results
SemiLEDs Corporation (NASDAQ:LEDS) had a loss and missed Wall Street’s expectations, AND 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 24.54%.
SemiLEDs Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.24 in the quarter versus EPS of $-0.29 in the year-earlier quarter.
Revenue: Decreased 61.55% to $3.53 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: SemiLEDs Corporation reported adjusted EPS loss of $0.24 per share. By that measure, the company missed the mean analyst estimate of $-0.21. It missed the average revenue estimate of $5.17 million.
Quoting Management: “Unfortunately the combination of a series of one-time events greatly impacted our business performance this quarter,” said Trung Doan, Chairman, President and CEO. “Despite this brief set-back, we remain confident we have the right strategy in place, focusing on profitable market segments where the performance and quality of our products continues to differentiate us,” concluded Doan.
Key Stats (on next page)…