LED chip and component maker SemiLEDs reported results for the first quarter of fiscal 2019.
Revenue in the first quarter of fiscal 2019 was $972,000, down 50 percent from $2 million in the fourth quarter of fiscal 2018.
Gross margin fell to -23% in the first quarter of fiscal 2019 from + 3% a year earlier and -11% in the previous quarter.
Operating margins fell to -105 per cent from -43 per cent a year ago and -62 per cent in the previous quarter.
Net losses for the first quarter of fiscal 2019 have fallen to $983,000 (27 cents per diluted share) from $1.13 million (32 cents per diluted share) in the previous quarter.
The company reduced its net loss by disposing of some idle equipment due to excess capacity charges over the past few years, taking into account the risk of outdated technology and based on sales projections.