2020-08-04

Veeco Posts Financial Results of 2Q20

Equipment supplier Veeco reported its business performance of the second quarter of 2020 with revenues of US$ 98.6 million. The company also reported GAAP net loss of $ 8.3 million and Non-GAAP net income of $ 5.5 million. Veeco said it has been executing well during the pandemic and all of its production sites have been operating at or near normal capacity in the second quarter. Its Scientific and Industrial market continues to perform well driven by sales to data storage customers. Sales in LED Lighting Display & Compound Semiconductor took 16% of its reven...
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2020-07-31

K&S Reports Revenue and Profit Growth in Its FY3Q20 with Rising Demands for Mini LED and Micro LED

Singapore based equipment supplier K&S announced financial results of its fiscal 3Q20 ended June 27, 2020. The company posted revenue of US$ 150.5 million which grown by 18.4% YoY. For the third fiscal quarter of 2020, K&S reported a gross profit of US$ 69.4 million and a gross margin of 46.1%. On the non-GAAP base, the company’s net income grew by 258.3% YoY to 12.9 million. The increased profit and revenue were boosted by the company’s recently mass produced Pixalux, which was designed to meet the high speed transfer needs in Mini LED...
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2020-07-30

Osram Reports Expectable FY3Q20 Financial Results and Includes Supervisory Board Members from AMS

Osram announced the financial results of its fiscal 3Q20. The German company said that the performance was better than expected compared to the main sales markets. For Osram’s FY 3Q20, its revenue on a comparable basis fell by 29.4% YoY to EUR 606 million (US$ 711.95 million) due to the impact of the Coronavirus crisis. EBITDA before special items was well above expectations with negative EUR 27 million (US$ 31.75 million). Osram’s Automotive business unit was impacted the most with on-year sales dropped by 35.7% to EUR 282 million (US$ ...
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2020-07-30

Samsung Reports Increased Profit for 2Q20 and Seeing Growing Demands in Display and TV Products

Samsung unveiled the financial results for the second quarter of 2020 with consolidate revenues of KRW 52.97 trillion (US$ 44.49 billion) and operating profits of KRW 8.15 trillion (US$ 6.85 billion). (Image: Samsung) Even as the spread of COVID-19 caused closures and slowdowns at stores and production sites around the world, Samsung has managed minimize the impact of the pandemic by strengthening online sales channels and optimizing costs. Quarterly operating profit rose 26% comparing to the previous quarter and grew 23% by year, thanks to firm demand for memor...
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2020-07-24

Signify Maintains Profitable in 2Q20 and Increases UVC Light Capacity

Signify announced the company’s 2020 second quarter results with sales of EUR 1.469 billion (US$ 1.7 billion). Comparable sales decreased by 22.5% due to the COVID-19 impact. However, the company still managed to maintain a profitable adjusted EBITA margin of 9%. (Image: Signify) The company also reported a net income of EUR 81 million (US$ 94.03 million) which increased by 61.5% YoY as a result of lower restructuring costs and one-time non-cash tax benefits from changes in the organizational structure. LED-based sales accounted for 80% of total ...
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2020-07-24

AIXTRON Reports Rising Order Intake for 1H20 and Revenue Growth in 2Q20

Semiconductor equipment provider AIXTRON published its financial results of the first half and the second quarter of 2020. The company said that it remains on track in the period despite the COVID-19 crisis. For 1H20, AIXTRON said it has received order volumes of EUR 138.4 million (US$ 160.6 million), which achieved an on-year growth of 41%. The order intake of 2Q20 came to EUR 69.6 million (US$ 80.76 million), up by 55% comparing to the same period in 2019. The main drivers of the growing customer demand for deposition equipment are the growing mar...
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2020-07-20

LG Announces Preliminary 2Q20 Earning Results

LG Electronics released its preliminary earnings results for the second quarter of 2020. The Korean company posted tentative consolidated revenue of KRW 12.8 trillion (US$ 10.64 billion) in the second quarter of 2020 with an operating profit of KRW 493.1 billion (US$ 409.77 billion). (Image: LG) Comparing to the number last year, LG said the sales of 2Q20 is expected to drop by 17.9% and operating income also decreased by 24.4% YoY. Comparing to the previous quarter, 2Q20 revenue would decrease by 13% and operating profit down by 54.76%. In 1Q20, LG bro...
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2020-07-13

SemiLEDs Reports FY3Q20 Financial Results

SemiLEDs announced its financial results for the third quarter of its fiscal year 2020, ended May 31, 2020. The company posted revenues of US$1.6 million for the third quarter of FY 2020, which increased by 2% comparing to the previous quarter. GAAP net loss attributable to SemiLEDs stockholders for the third quarter of fiscal 2020 was $513 thousand, compared to a gain of $348 thousand in the second quarter of fiscal 2020, or a net loss of $0.14 per diluted share, compared to a net gain of $0.08 per diluted share for the second quarter of fiscal 2020. GAAP gross...
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2020-07-08

AMS’ Acquisition of Osram Approved by the EU Commission

Since the Austrian sensing company AMS won the bid of Osram in December 2019, it has been a long journey for it to complete the acquisition of the German company. Finally, on July 6, AMS announced that it has received unconditional regulatory approval from the EU commission for the acquisition of Osram and is going to close the takeover on July 9, 2020. As the acquisition announced last year, it was stated that the merger would be subject to antitrust and foreign trade approvals by the EU. In the press release of the EU Commission, the Commission concluded that ...
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2020-07-06

Velodyne Lidar to Become Public Through Combination with Graf Industrial

Velodyne Lidar announced that it has raised US$150 million in a reverse takeover and will be combining with Graf Industrial to go public in the third quarter of the year. It is expected that Velodyne will be listed on the NYSE under the symbol of VLDR. Pursuant to the business combination, Graf will acquire Velodyne through a reverse merger in which Velodyne is ascribed an enterprise value of approximately US$1.6 billion and equity value of approximately US$1.8 billion. Following the transaction and after payment of transaction expenses, Velodyne is expected to...
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2020-06-18

Osram Announces New Business Outlook for Fiscal 2020, See Recovery after Its FY3Q20

With the impacts of COVID-19 outbreak, several companies across the world including Osram had withdrawn their business outlook or guidance earlier this year. As for new, following reopens in many countries, Osram provided an updated business guidance for its fiscal year 2020, starting October 2019 and ending September 2020. Osram reported on June 17, 2020, that it is expecting an on-year revenue decline of -15 to -19%, comparing to its previous guidance of comparable revenue growth between -3% and +3%. The projected adjusted EBITDA margin went down from 9% to 11% to ...
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2020-06-11

Daktronics Posts FY 2020 and FY 4Q20 Financial Results

LED video display company announces the financial results of its fiscal 4Q20 and 2020 ending May 2. 2020. Daktronics reported fiscal year 2020 net sales of US$608.9 million, operating loss of US$0.2 million and net income of US$0.5 million. This compares to net sales of $569.7 million, operating loss of US$4.7 million, and net loss of US$1.0 million for fiscal 2019. Fiscal 2020 orders were US$620.8 million compared to US$608.9 million for fiscal 2019. For fiscal 4Q20, Daktronics registered net sales of US$126.1 million, operating loss of US$3.5 million, and...
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2020-06-05

Orion Lighting Reports FY 2020 Revenue and Profit Growth Driven by Smart LED Lighting Installation

U.S. company Orion Lighting posted its FY 2020 financial results ending March 31, 2020. The revenue of FY 2020 grew by 129%YoY to US$150.8 million comparing to US$65.8 million in FY 2019. The gross profit also reached US$37.1 million with an on-year growth of 155%. Net income of the fiscal year came to US$12.5 million or US$0.40 per share. EBITDA came to US$14.7 million. Orion Lighting noted that the revenue increase was mainly driven by a large LED lighting and controls retrofit project of one national account. The company said its business ha...
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2020-05-15

Energy Focus Reports On-year Revenue Growth in 1Q20

U.S.-based LED lighting company Energy Focus announced its 1Q20 financial resulted and posted a 19.1% YoY revenue growth despite the economic headwinds resulted from the COVID-19 pandemic. In 1Q20, the net sales of Energy Focus came to US$3.8 million, increased by 19% YoY compared to US$3.2 million in 1Q19. Commercial products accounted for 45.9% of the revenue and 54.1% of its sales came from military and maritime products, increased from 37.6% in the first quarter of 2019. Gross profit was US$1 million with a gross margin of 27.3%, which increased by 24.2...
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2020-05-08

Veeco Announces Board of Directors Changes and Business Growth in 1Q20

Veeco Instrument posted financial results for the first quarter of 2020 ended March 31, 2020 and announced the recent adjustment of its Board of Directors. The equipment supplier reported that its former CEO and Chairman, John Peelter has retired and is passing the role to Richard D’Amore, who has been a General Partner of North Bridge Venture Partners and served on the Veeco Board for years. Meanwhile, Mary Jane Raymond, CFO of II-VI Incorporated, joined Veeco’s Board of Directors. Veeco’s revenue for 1Q20 grew by 5.13% YoY...
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2020-05-08

Osram Reports Increased Cash Flow and Profit Margin

Osram announced its FY2Q20 financial results and said that it has achieved a good second quarter given the global challenges. The company registered a revenue of EUR 821 million (US$ 890.25 million), which dropped by 7.9% YoY. Despite that, the adjusted EBITDA increased by 36.8% YoY and adjusted EBITDA margin also improved by 3.6 p.p to 11.7%. Due to restructuring costs for the change in structural and personnel adjustments, Osram reported a loss of EUR 39.3 million (US$ 42.61 million). Osram CEO, Olaf Berlien, said that the company had reacted very...
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2020-05-06

Samsung Sees Weak Demands in Display; LG Display Reports Revenue Drop

Korean giants Samsung and LG announced their financial results for the first quarter of 2020 and they both reported that the COVID-19 outbreak has affected their business performance. Samsung registered a total revenue of KRW 55.33 trillion (US$ 45.11 billion) with an on-year increase of 5.6%. Operating profit is KRW 6.45 trillion (US$ 5.28 billion) decreased by 9.8% QoQ but increased by 3.2% YoY. Compared to the previous quarter 4Q19 which is usually the peak season of the year, the revenue of 1Q20 went down due to seasonality. And the on-year growth was due ...
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2020-05-06

Seoul Viosys Reports Revenue Growth with Strong Demand in UV LED

Seoul Viosys, the subsidiary of Seoul Semiconductor, announced its financial results for the first quarter of 2020. The company registered a consolidated revenue of KRW 87 billion (US$ 71.17 million), which increased by 10% YoY. Seoul Viosys has reported boosting inquiries for its UV LED products “Violeds” for disinfection applications as the coronavirus outbreak stimulated the awareness of consumers for ‘Clean Technologies.’ As a result, despite that sales of visible LEDs declined, Seoul Viosys still reported a double-digit overall grow...
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2020-05-05

Micro LED based Smart Lens Maker Mojo Vision Raises Additional $51 Million

Mojo Vision, the Invisible Computing company who is developing smart contact lens with Micro LED technology, announced by the end of April its additional funding raised in Series B-1 investment round. The found will be used to gear up the development of Mojo Lens, the smart contact lens to realize AR applications. (Image: Mojo Vision) Mojo Vision has raised US$51 million in the B-1 round, bringing the total funding to date to more than US$159 million. The latest round of funding was led by New Enterprise Associates (NEA) with participation from top stra...
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2020-05-05

AIXTRON Reports Sales and Profits Decreases in 1Q20 with Limited Impacts from COVID-19 Pandemic

Germany-based semiconductor equipment provider AIXTRON published its financial results of the first quarter of 2020. The company reported an on-year increase for order intake but drops in revenue and profit. AIXTRON’s order intake grew by 28% YoY for 1Q20 to EUR 68.8 million (US$ 74.9 million) due to continued strong demand for the increasing use of LED-based display applications and the production of lasers for optical data transmission and 3D sensors, especially in mobile phones. The revenues for in Q120, however, dropped by 40% YoY and 45% QoQ...
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2020-05-04

Tridonic Appoints New CEO; Signify Announces EUR 1.275 Billion Eurobonds

Tridonic, the lighting technology company of the Zumtobel Group, welcomed its new CEO on May 1, 2020. Meanwhile, Dutch lighting company Signify report the pricing of its Eurobond to refinance the bridge loan for the acquisition of Cooper Lighting. Hugo Rohner has become the Chief Executive Officer (CEO) of Tridonic of the Austria based Zumtobel Group. Hugo Rohner is an internationally experienced manager in the fields of digitalisation and IoT (Internet of Things) and was most recently the CEO of the Skidata Group in Salzburg. He will reports directly...
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2020-04-30

Cree Reports Financial Results for FY3Q20

Cree posted the financial results of the third quarter of its fiscal 2020, ended March 29, 2020. The company registered a revenue of US$215.5 million, representing an on-year decrease of 21% and a 10% decrease compared to the second quarter of fiscal 2020. GAAP net loss from continuing operations attributable to controlling interest for the third quarter was US$61.6 million, or US$0.57 per diluted share. On a non-GAAP basis, net loss from continuing operations attributable to controlling interest for the third quarter of fiscal 2020 was US$15.5 million, or US$0.14 ...
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2020-04-29

Seoul Semiconductor Post 1Q20 Financial Results and Expects Revenue Growth with UV LEDs

Seoul Semiconductor updated its business performance of the first quarter of 2020 with a consolidated revenue of KRW 243 billion (US$199.75 million) and operating profit of KRW 6 billion (US$4.93 million). Despite abruption to production facilities for most global manufacturers due to COVID-19, Seoul achieved its guided range of KRW 240 billion to KRW 260 billion in revenues for the quarter. To mitigate manufacturing risks, Seoul has built manufacturing sites in various locations such as Korea, China, Vietnam and in the US. This has helped the company to...
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2020-04-24

Signify Post 1Q20 Financial Results with Increased Cash Flow to Mitigate COVID-19 Impact

Signify announced the company’s first quarter 2020 results with sales amounted to EUR 1.43 billion (US$ 1.53 billion), down by 3.5% YoY. With adjusted for 1.3% currency effects and 10.6% consolidation (mainly related to the acquisitions of Cooper Lighting and Klite) and other changes, comparable sales declined by 15.3%. LED-based sales represent 78% of total sales. The adjusted gross margin increased by 50 bps to 38.2%, including a negative currency effect of 10 bps. Adjusted indirect costs decreased by EUR 4 million (US$ 4.295 million). The Adjusted EBIT...
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2020-04-24

Heliospectra Supplies Greenhouse Grow Lights Installation in the U.S.

Sweden-based horticulture lighting technology provider Heliospectra announced a new order from Turner Construction in Miami, Florida. The systems integrator and supplier will install the controllable spectra ELIXIA LED lights for several upcoming greenhouse facilities. Turner Construction is leading the design, construction, and installation services for the commercial-scale greenhouse projects across the United States in 2020. The Heliospectra ELIXIA 600W LED light will benefit the greenhouse projects by improving crop quality and performance in a wide v...
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2020-04-14

JDI Commits Accounting Fraud and Pads Earnings since 2014

Japan Display announced that the company has been involved in improper accounting treatment with a total padded operating profit of JPY 8.2 billion (US$ 76.12 million) in the past six years since 2014, when the company was listed on the first section of the Tokyo Stock Exchange. The company was investigated by a third-party committee and revealed the results on April 13, 2020. (Image: JDI) The investigation showed that JDI recorded fictitious inventory of JPY 10 billion (US$92.86 million) in total since the fourth quarter of fiscal 2013. The investigation also...
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2020-04-08

Samsung and LG Post 1Q20 Earning Guidance with On-year Profit Increase

Korean electronics giants LG and Samsung both revealed their preliminary earning guidance for the first quarter of 2020 and the spreading coronavirus pandemic did not seem to impact much on their business. LG Electronics reported tentative consolidated revenues of KRW 14.7 trillion (US$ 12.03 billion) and with an operating profit of KRW 1.1 trillion (US$ 899.8 million) for 1Q20. Compared to 1Q19, the sales was about 1.2% lower but the operating income increased by 21.1% on year. Meanwhile, Samsung Electronics posted its 1Q20 earnings guidance with consolidated...
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2020-04-07

Measures Taken by Global LED/Lighting Companies Responding to COVID-19 in 1Q20

The first quarter just ended and the continuously spreading coronavirus (COVID-19) has turned the world upside down in the first three month of 2020. Many companies across the world have reported their measures in response the impacts brought by the epidemic. LEDinside has collected industry information announced by worldwide companies to keep our readers updated. Signify Suspend Financial Outlook for FY2020, Increases 3% Product Price and Asks Employees to Cut 20% Wage The world’s largest lighting company Signify has taken several actions to cope with C...
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2020-04-06

Cree Announces Preliminary Third Quarter Fiscal 2020 Results and Revises Its Business Outlook

Cree announced preliminary results for its third quarter of fiscal 2020 ended March 29, 2020 and provided a business update in light of the COVID-19 pandemic, which has had a greater impact than originally anticipated when the company provided the third quarter outlook on January 29, 2020. Revenue for the third quarter of fiscal 2020 is expected to be approximately US$216 million, compared to US$274 million in the third quarter of fiscal 2019 and US$240 million in the second quarter of fiscal 2020. The Company expects GAAP net loss for the third quarter of fiscal 20...
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2020-03-30

Magna Withdraws Outlook and Produces Health Supplies in Response to COVID-19

Canadian automotive component supplier Magna updated its current actions responding COVID-19. The company reported withdrawal of its business outlook for 2020 and mentioned that it is helping to source and produce health care supplies and equipment to combat the coronavirus epidemic. Magna noted that a number of its OEM customers, particularly in North America and Europe, have initiated production downtime or have reduced production rates. It is uncertain whether OEMs will extend production downtime or further lower production rates as circumstances evolve. While spe...
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