About Alpha and Omega Semiconductor
Alpha and Omega Semiconductor Limited, or AOS, is a designer, developer and global supplier of a broad range of power semiconductors, including a wide portfolio of Power MOSFET, IGBT, IPM, Power IC products and Digital Power. AOS has developed extensive intellectual property and technical knowledge that encompasses the latest advancements in the power semiconductor industry, which enables us to introduce innovative products to address the increasingly complex power requirements of advanced electronics. AOS differentiates itself by integrating its Discrete and IC semiconductor process technology, product design, and advanced packaging know-how to develop high performance power management solutions. AOS's portfolio of products targets high-volume applications, including portable computers, flat panel TVs, LED lighting, smart phones, battery packs, consumer and industrial motor controls and power supplies for TVs, computers, servers and telecommunications equipment. For more information, please visit www.aosmd.com.
The following unaudited consolidated financial statements are prepared in accordance with U.S. GAAP.
| Alpha and Omega Semiconductor Limited | ||||||||||||||||||||||
| Condensed Consolidated Statements of Operations | ||||||||||||||||||||||
| (in thousands, except percentages and per share amounts) | ||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||
|
March 31,
2019 |
December 31,
2018 |
March 31,
2018 |
March 31,
2019 |
March 31,
|
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| Revenue | $ | 109,067 | $ | 114,925 | $ | 102,902 | $ | 339,064 | $ | 311,656 | ||||||||||||
| Cost of goods sold | 83,438 | 85,423 | 75,769 | 251,322 | 228,911 | |||||||||||||||||
| Gross profit | 25,629 | 29,502 | 27,133 | 87,742 | 82,745 | |||||||||||||||||
| Gross margin | 23.5 | % | 25.7 | % | 26.4 | % | 25.9 | % | 26.6 | % | ||||||||||||
| Operating expenses: | ||||||||||||||||||||||
| Research and development | 11,417 | 12,600 | 9,966 | 35,401 | 27,393 | |||||||||||||||||
| Selling, general and administrative | 17,947 | 20,104 | 16,486 | 58,403 | 46,857 | |||||||||||||||||
| Total operating expenses | 29,364 | 32,704 | 26,452 | 93,804 | 74,250 | |||||||||||||||||
| Operating income (loss) | (3,735 | ) | (3,202 | ) | 681 | (6,062 | ) | 8,495 | ||||||||||||||
| Interest income and other income (loss), net | 124 | 74 | (234 | ) | 460 | (354 | ) | |||||||||||||||
| Interest expense | (1,719 | ) | (1,706 | ) | (105 | ) | (4,915 | ) | (136 | ) | ||||||||||||
| Income (loss) before income taxes | (5,330 | ) | (4,834 | ) | 342 | (10,517 | ) | 8,005 | ||||||||||||||
| Income tax expense | 625 | 701 | 830 | 1,886 | 32 | |||||||||||||||||
| Net income (loss) including noncontrolling interest | (5,955 | ) | (5,535 | ) | (488 | ) | (12,403 | ) | 7,973 | |||||||||||||
| Net loss attributable to noncontrolling interest | (4,400 | ) | (3,990 | ) | (2,139 | ) | (11,719 | ) | (5,269 | ) | ||||||||||||
| Net income (loss) attributable to Alpha and Omega Semiconductor Limited | $ | (1,555 | ) | $ | (1,545 | ) | $ | 1,651 | $ | (684 | ) | $ | 13,242 | |||||||||
| Net income (loss) per common share attributable to Alpha and Omega Semiconductor Limited | ||||||||||||||||||||||
| Basic | $ | (0.06 | ) | $ | (0.06 | ) | $ | 0.07 | $ | (0.03 | ) | $ | 0.55 | |||||||||
| Diluted | $ | (0.06 | ) | $ | (0.06 | ) | $ | 0.07 | $ | (0.03 | ) | $ | 0.53 | |||||||||
| Weighted average number of common shares attributable to Alpha and Omega Semiconductor Limited used to compute net income (loss) per share | ||||||||||||||||||||||
| Basic | 24,084 | 23,887 | 23,795 | 23,938 | 23,914 | |||||||||||||||||
| Diluted | 24,084 | 23,887 | 24,755 | 23,938 | 24,916 | |||||||||||||||||
