Home Trending Stocks Semileds Corp. (LEDS) stock decline during after-hour. What has been happening lately?

Semileds Corp. (LEDS) stock decline during after-hour. What has been happening lately?

Semileds Corp. (NASDAQ: LEDS) stock gained by 44.86% at last close whereas the LEDS stock price shows a decline of about 15.41% in the after-hours trading session. As of now, there is no update available regarding this huge change in LEDS share price, from the management of LEDS. SemiLEDs designs and manufactures LED chips and LED components for lighting purposes such as street lights, commercial, industrial, system, and residential lighting. SemiLEDs provide LED chips in blue, white, green, and UV colors.

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Recent Past Development

Financial Results

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On April 9, 2021, Semileds announced its second-quarter fiscal 2021 financial results. The highlights are being stated below:

  • The second quarter of fiscal 2021 generated $1.2 million in revenue, up from $719 thousand in the first quarter.
  • SemiLEDs shareholders suffered a GAAP net loss of $255 thousand in the second quarter of fiscal 2021, relative to a loss of $697 thousand in the first quarter.
  • In the first quarter of fiscal 2021, LEDS lost $0.06 per diluted share, relative to $0.17 per diluted share in the previous quarter. Due to the Chinese New Year vacation, LEDS had to shut down their manufacturing operations for two weeks in the second quarter.
  • The GAAP net margin for the second quarter of fiscal 2021 was 20%, opposed to a negative 3% gross margin in the first quarter of fiscal 2021.
  • The second quarter of fiscal 2021 saw a negative 42 percent operating margin, whereas LEDS experienced a negative 135 percent operating margin in the first quarter.
  • On February 28, 2021, LEDS’s cash and cash equivalents were $2.1 million, down from $2.7 million at the end of the first quarter of fiscal 2021.

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Furthermore

Semileds also mentioned that due to the ongoing uncertainty regarding COVID-19’s effects on the economy and LEDS, Semileds is unable to anticipate revenue for the third quarter ending May 31, 2021, at this time.

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