SemiLEDs Corporation reported unaudited consolidated earnings results for the first quarter ended November 30, 2016. For the quarter, the company reported revenues, net of $2,702,000 compared to $1,883,000 a quarter ago. Loss from operations was $1,103,000 compared to $11,562,000 a quarter ago. Loss before income taxes was $696,000 compared to $12,181,000 a quarter ago. Net loss attributable to the company stockholders was $690,000 or $0.20 per basic and diluted share compared to $12,171,000 or $4.07 per basic and diluted share a quarter ago. Non-GAAP net loss attributable to the company stockholders was $607,000 or $0.17 per diluted share compared to $2,801,000 or $0.94 per diluted share a quarter ago. Net cash used in operating activities was $1,121,000 compared to $530,000 a quarter ago. Capital expenditures were $68,000 compared to $154,000 a quarter ago. The GAAP net loss of $0.7 million included $0.5 million in other income from a breach of contract lawsuit payments consisting of the $0.3 million advance receipt payment made in March 2015 and the $0.2 million settlement payment made in November 2016.

The company expects revenue for the second quarter ending February 28, 2017 to be about $2.1 million plus or minus 10%.