SemiLEDs has released its not so bright financial results for the fourth quarter of fiscal year 2011, ended August 31, 2011.

According to the company ,revenue for the fourth quarter of fiscal 2011 was $5.3 million, a 54% decrease from $11.5 million in the fourth quarter of fiscal 2010. GAAP net loss attributable to SemiLEDs stockholders for the fourth quarter of fiscal 2011 was $13.6 million, or a loss of $0.50 per diluted share, compared to GAAP net income attributable to SemiLEDs stockholders of $5.3 million, or $0.18 per diluted share, for the fourth quarter of fiscal 2010.

The weak demand of outdoorstreet lighting in China, together with the overcapacity of backlighting that has spilled over into the general lighting market partly cause this decline.

Trung Doan, Chairman and CEO of SemiLEDs,stated that “With so much uncertainty, we remain cautious in our near term outlook but continue to believe in the industry’s long term market opportunities. When the Chinese government releases funds for the five year plan, we expect to benefit given that we are one of the few companies that meets the program’s requirements and that we have local presence with our JV, China SemiLEDs.”

Revenue for the fiscal year end 2011 was $33.9 million, a 5.2% decrease compared to $35.8 million for the fiscal year end 2010. GAAP net loss attributable to SemiLEDs stockholders for the fiscal year 2011 was $16.1 million, or a loss of $0.88 per diluted share, compared to GAAP net income attributable to SemiLEDs stockholders of $10.8 million, or $0.24 per diluted share, for the fiscal year 2010.

GAAP gross margin for the fourth quarter of fiscal 2011 was negative 93%, compared with 53% in the fourth quarter of fiscal 2010. Operating margin for the fourth quarter of fiscal 2011 was negative 228%, compared with 42% in the fourth quarter of fiscal 2010. Margins were negatively impacted by a charge of $4.3 million for the write-downs of inventory and a charge of $1.1 million for bad debt reserve.

The Company’s cash and cash equivalents was $83.6 million at the end of the fourth quarter, compared to the prior quarter ending balance of $94.4 million. Cash used in operations was $2.0 million in the fourth quarter of fiscal 2011.