SemiLEDs Corporation (LEDS) saw its loss narrow to $3.31 million, or $0.11 a share for the quarter ended Nov. 30, 2015. In the previous year period, the company reported a loss of $4.33 million, or $0.15 a share. On an adjusted basis, net loss for the quarter stood at $3.27 million, or $0.11 a share.

Revenue during the quarter went up marginally by 1.20 percent to $2.96 million from $2.93 million in the previous year period. Gross margin for the quarter was negative 48.73 percent.

Operating loss for the quarter was $3.13 million, compared with an operating loss of $4.44 million in the previous year period.

"We are moving toward a fabless business model to focus on the less capital intensive component business," said Trung Doan, chairman, president and chief executive officer. "This should help us to improve gross margin and lower capital spending and R&D expenses," concluded Doan.

Debt comes down significantly

SemiLEDs Corporation has recorded a decline in total debt over the last one year. It stood at $3.46 million as on Nov. 30, 2015, down 37.34 percent or $2.06 million from $5.52 million on Nov. 30, 2014. Total debt was 9.81 percent of total assets as on Nov. 30, 2015, compared with 10.98 percent on Nov. 30, 2014. Debt to equity ratio was almost stable at 0.13 as on Nov. 30, 2015, when compared with the last year.