Benzinga | Jul 6, 2021 08:26AM EDT

SemiLEDs Corp Reports Q3 Results

* LED chips and components developer SemiLEDs Corp (NASDAQ:LEDS) reported that third-quarter FY21 revenue declined 12.5% year-on-year to $1.4 million.

* The gross margin expanded 1,900 basis points to 46%.

* The operating margin loss contracted 600 basis points to (41)%.

* It held $1.7 million in cash and equivalents at May 31, 2021.

* EPS loss was $(0.02).

* SemiLEDs said it is unable to provide a revenue forecast for the fourth quarter at this time, citing the continuing uncertain impact of COVID-19 on the economy and the company.

* Price action: LEDS shares traded higher by 5.89% at $16.89 in the premarket session on the last check Tuesday.