SemiLEDs (Nasdaq: LEDS) Q1 loss narrower than expected

Palm Beach, FL 1/11/12 (StreetBeat) -- SemiLEDs Corp (Nasdaq: LEDS), a maker of LED chips and components, posted a narrower-than-expected quarterly loss, but said it expects a weak second quarter as oversupply continues to pressure margins.

A jump in supply of light-emitting diodes, mainly due to generous subsidies in China, has pressured pricing in recent times.

For the second quarter, the company, which sells its blue, green and ultraviolet LED chips primarily to customers in China, Taiwan and other parts of Asia, expects to post a loss of 26 cents to 28 cents per share on revenue of $7 million to $8 million.

Analysts, on average, were expecting a loss of 22 cents a share on revenue of $7.4 million, according to Thomson Reuters I/B/E/S.

For the quarter ended Nov. 30, the company posted a loss of $7.7 million, or 28 cents a share, compared with a profit of $3.8 million, or 11 cents a share in the year-ago period.

Excluding items, it reported a loss of 26 cents a share. Revenue almost halved to $6.7 million. Analysts had pegged the company's loss at 29 cents a share on revenue of $6.3 million.

Shares of the company closed at $3.51 on Tuesday on the Nasdaq.

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