Alpha and Omega Semiconductor Reports Financial Results for the Fiscal Second Quarter of 2016 Ended December 31, 2015

SUNNYVALE, Calif., Feb. 03, 2016 (GLOBE NEWSWIRE) -- Alpha and Omega Semiconductor Limited (“AOS”) (NASDAQ:AOSL), today reported financial results for the fiscal second quarter of 2016 ended December 31, 2015.

The results for the fiscal second quarter of 2016 ended December 31, 2015 were as follows:

GAAP Financial Comparison
Quarterly
(in millions except percentage and per share data)
(unaudited)
 
  Three Months Ended
  December 31, 2015 September 30, 2015 December 31, 2014
Revenue $79.8  $81.4  $81.3 
Gross Margin 18.8% 18.5% 18.7%
Operating Loss $(0.6) $(0.8) $(0.3)
Net Loss $(1.6) $(2.0) $(1.3)
Loss Per Share - Diluted $(0.07) $(0.09) $(0.05)
             

On a non-GAAP basis excluding the effect of share-based compensation charges in each of the periods presented and impairment of long-lived assets in the current quarter ended December 31, 2015, the results were as set forth below (see detailed reconciliation included at the end of this press release).

Non-GAAP Financial Comparison
Quarterly
(in millions except percentage and per share data)
(unaudited)
       
  Three Months Ended
  December 31, 2015 September 30, 2015 December 31, 2014
Revenue $79.8  $81.4  $81.3 
Gross Margin 19.0% 18.7% 19.0%
Operating Income $0.9  $  $1.0 
Net Loss $(0.1) $(1.2) $ 
Loss Per Share - Diluted $  $(0.05) $ 
             

“AOS closed the December quarter with strong execution, and delivered better than expected revenue and improved gross margin,” said Dr. Mike Chang, AOS chairman and CEO. “At the same time, we continued to generate healthy cash flow, and returned capital to shareholders through our repurchase program.”

“Our strategy of delivering differentiated products into diversified markets continues to gain strong traction at the design win level.  Although we are not immune from the current market turbulence, based on the new product momentum coupled with growing orders from expanded customer base, we remain confident that AOS can achieve meaningful revenue growth and return to profitability in calendar year 2016.”

Business Outlook for Fiscal Q3 Ending March 31, 2016

The following statements are based on management's current expectations. These statements are forward-looking, and actual results may differ materially. AOS undertakes no obligation to update these statements. 

  • Revenue is expected to be between $79 million and $83 million.

  • GAAP gross margin is expected to be 18.5% plus or minus 1%. 

  • GAAP operating expenses are expected to be in the range of $15.2 million to $17.2 million. 

  • Tax expense is expected to be approximately $1.0 million to $1.2 million. 

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