Cash and cash equivalents were reported at $2.3 million as of November 30, 2023, a slight decrease from $2.6 million at the end of the fourth quarter of fiscal 2023.Looking ahead, SemiLEDs expects revenue for the second quarter ending February 29, 2024, to be around $1.1 million, subject to a 10  variance. As SemiLEDs Corporation navigates its fiscal year with a focus on reducing losses and improving margins, investors seeking a broader context for the company's performance may find additional insights through InvestingPro. The company also noted that its office and factory in Chunan will be closed for the Chinese New Year holiday, starting February 3, 2024, and will resume operations on February 19, 2024.SemiLEDs specializes in manufacturing LED chips and components for various applications, including general lighting, UV curing, and specialty industrial uses. This financial update is based on a press release statement from SemiLEDs Corporation. The net loss attributable to SemiLEDs stockholders decreased to $598 thousand, or $ 0.12  per diluted share, from a net loss of $881 thousand, or $ 0.18  per diluted share, in the fourth quarter of fiscal 2023.Significant improvement was seen in the company's gross margin, which grew to 15  in the first quarter from 3  in the fourth quarter of the prior fiscal year. Analysts anticipate sales growth in the current year, which could signal a positive trajectory for SemiLEDs. Investors looking for comprehensive analysis and additional InvestingPro Tips for companies like SemiLEDs can benefit from the InvestingPro platform. HSINCHU, Taiwan - SemiLEDs Corporation  NASDAQ LEDS , a global provider of LED chips and components, announced a reduced net loss and improved gross margins in its financial results for the first quarter of fiscal year 2024, which ended on November 30, 2023.The company reported an increase in revenue to $1.6 million for the first quarter, up from $1.5 million in the previous quarter.
SemiLEDs Corporation reported a reduced net loss of $598 thousand in the first quarter of fiscal year 2024, with revenue increasing to $1.6 million. The company's gross margin improved to 15% from 3% in the previous quarter.