(By Balaseshan) SemiLEDs Corp. (NASDAQ: LEDS) said it has filed a Form 12b-25 notification of late filing with the U.S. Securities and Exchange Commission (SEC) for extending the deadline to file its Annual Report on Form 10-K for the fiscal year ended August 31, 2012.
With this extension, if the Form 10-K is filed by December 14, 2012, the Form 10-K will be deemed to be timely filed.
The company needed sufficient time to update its disclosure and financial statement that assets related to Xurui Guangdian Co. Ltd. (China SemiLEDs), in which SemiLEDs holds a 49% equity interest, had been materially impaired.
The materially impaired assets were previously announced by the company and reported in its Current Report on Form 8-K filed on November 26, and reflected in its preliminary financial results announced on November 28.
The Miao-Li County, Taiwan-based company said it expects to file its Form 10-K no later than December 14, 2012.
SemiLEDs engages in the development, manufacture, and sale of light emitting diode (LED) chips and LED components. Its products are used primarily for general lighting applications, including street lights and commercial, industrial, and residential lighting, as well as in backlighting, medical, automotive, and ultra violet (UV) applications.
The company, which was founded in 2005, markets blue, green, and UV LED chips under the MvpLED brand name primarily to customers in China and Taiwan, as well as in Russia and North America. It sells LED chips to packagers and distributors, who in turn sell to packaging customers.
LEDS closed Thursday's regular session down 0.44% at $1.14. The stock has been trading between $1.05 and $4.84 for the past 52 weeks.