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November 26, 2012
17:53 EDTLEDSSemiLEDs says assets relating to Xurui Guangdian materially impaired
On November 19, Chief Executive Officer and Chief Financial Officer of SemiLEDs Corporation concluded that the company’s assets relating to Xurui Guangdian, including the company’s 49% equity interest in China SemiLEDs and its accounts and notes receivable from China SemiLEDs, have been materially impaired. As a result, the company expects to reduce the value of its equity investment in China SemiLEDs from $8.7M, as of May 31, to zero, as of August 31, primarily due to such impairment charge. The company also expects to record an impairment charge on its accounts and notes receivable from China SemiLEDs in the amount of $1.4M The impairment charges will be reflected in the company’s financial statements for the year ended August 31. The impairment charges are not expected to result in future cash expenditures by the company.
News For LEDS From The Last 14 Days
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January 28, 2015
05:58 EDTLEDSGlobal demand for fine-pitch LED display panels up 70% in 2014, DigiTimes says
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January 20, 2015
16:09 EDTLEDSCree says LED lighting market still in early stages
Cree (CREE) CEO Chuck Swoboda said in the company's earnings release, "We made solid progress in Q2 with operating margin higher than targeted due to an improvement in gross margins in our lighting business. The market for LED lighting is still in the early stages, our new product pipeline is strong, sales momentum is building and our brand is growing in the market. As evidenced by our significant share repurchases in Q2, we believe we are on the right track to continue to grow the company and increase profits over the next several years." Cree peers include SemiLEDs (LEDS) and Acuity Brands (AYI). Cree shares are up 6% in after-hours trading to $34.40 after reporting better than expected Q2 results.

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