SemiLEDS Posts Smaller-than-expected Loss (LEDS, CREE, AIXG, VECO, RBCN)

The company, which plays in the same market as Cree Inc. (NASDAQ: CREE), Aixtron AG (NASDAQ: AIXG), Veeco Instruments Inc. (NASDAQ: VECO), and Rubicon Technology Inc. (NASDAQ: RBCN), reported revenue of $7.9 million, higher than the consensus estimate of $7.4 million and an adjusted EPS loss of -$0.22 compared with an estimate for an EPS loss of -$0.25. Gross margins fell to -9%, compared with a gross margin of 23% in the same period a year ago. The company said that “[m]argins continue to improve through continued expense management.”

For the current quarter, the company forecasts a GAAP EPS loss of -$0.25 to -$0.27 on revenue of $7.9-$8.9 million. SemiLEDS continues to plan on a negative gross margin. The consensus estimate called for an adjusted EPS loss of -$0.22, which should come out about even with the company’s estimate.

Shares of SemiLEDS are up about 1.3% this morning at $4.00 in a 52-week range of $2.60-$12.08.

Paul Ausick