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The report shows that the company's gross profit margin is also declining, from 51% in the same period last year, 23% in the previous quarter to 9% now, and the expected gross margin is 25-30%. Operating profit margin also fell from 36% in the same period last year and -6% in the previous quarter to -70% in the third quarter.
However, SemiLEDs pointed out that it was mainly affected by the inventory write-down of $1.1 million in assets. According to non-GAAP accounting standards, net income fell to $4.3 million from $3.3 million in the same period last year and $74 million in the previous quarter. It is expected that sales in the fourth quarter of fiscal 2011 (to the end of August) will be $5.5-6.5 million, and gross margin is expected to be negative.
Trung Doan, chairman and CEO of SemiLEDs, said that price pressures and weak demand in the second quarter are still continuing, but prices are gradually stabilizing. The company will continue to focus on improving the cost structure of its products by accelerating the transition to 4-inch epitaxial wafer production at its Taiwan facility and supporting its customers to reduce total cost by maximizing the manufacture of metal-based vertical-structure LED chips.
Founded in 2005, SemiLEDs is principally engaged in the production of blue, green and ultraviolet (UV) LED chips with independent intellectual property rights. Its LED chips are mainly sold to other parts of Asia such as China, Taiwan, and South Korea. SemiLEDs are also engaged in chip packaging, which are used primarily in general lighting applications such as road, commercial, industrial and residential lighting.
The net proceeds from the initial public offering of SemiLEDs was $95.5 million, which was mainly used to expand the capacity of the Taiwan plant, develop LED chips based on 6-inch wafers, increase working capital and infrastructure costs. SemiLEDs has also expanded its LED chip production capacity through a joint venture, Xu Rui Optoelectronics, established in Foshan, Guangdong.
Suzhou Whaylan new energy technology co., Ltd. is located in Suzhou Wuzhong Economic Development zone. It is a new energy conversion electric power equipment, energy storage transformation, energy management, on the basis of independent research and development, production, sales and after-sales service in the integration of high-tech enterprises, business scope covers from grid photovoltaic inverter, energy storage system, off-grid power generation systems and other fields.
Whaylan always adhere to the concept of "innovation drives development, science and technology leads the future", product research and development is quality-oriented, efficient-based, safety-oriented as the principle, the establishment of a strong, experienced R & D team, the company has been rated as science and technology small and medium-sized enterprises, specialized new enterprises, high-tech enterprises.
Since its establishment, the company has always adhered to the original intention of "let the whole world use clean energy", deeply plough into the field of power, electronic and electric energy transformation, and is committed to providing smart energy management and other overall solutions for families, industrial and commercial users and ground power stations with innovative technology, excellent products and professional services.
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suzhou whaylan new energy technology co., ltd , https://www.whaylan.com