Editor’s Note: Yesterday the stock closed at $1.18 per share. Six months ago, the stock traded at $3.20. Two years ago the stock traded over $30.00.
SemiLEDs misses Q4 ests (LEDS) $1.18 : Reports Q4 (Aug) loss of $0.60 per share, excluding non-recurring items, $0.35 worse than the Capital IQ Consensus Estimate of ($0.25); revenues rose 3.8% year/year to $5.5 mln vs the $7.99 mln consensus.
Fourth quarter results reflect the Company’s reduction of the carrying amount of its investment in China SemiLEDs to zero, compared to the third quarter ending balance of $8.7 million. The reduction reflects primarily the Company’s recognition of its proportionate share of an impairment charge on China SemiLEDs’ long-lived assets related to the increased likelihood that shareholders of China SemiLEDs would fail to agree to and implement a restructuring plan for China SemiLEDs.