Alpha & Omega Semiconductor, Ltd. reported unaudited consolidated financial results for the second quarter and six months ended December 31, 2011. Revenue was $80.7 million, a decrease of 3.9% from $84.0 million for the same quarter in the prior fiscal year. Operating income was $2.3 million, compared to $7.5 million for the same quarter in the prior fiscal year. Non-GAAP operating income was $3.8 million, compared to $8.8 million for the same quarter in the prior fiscal year. Net income was $1.5 million, or $0.06 per diluted share, compared to $8.7 million, or $0.36 per diluted share, for the same quarter in the prior fiscal year. Non-GAAP net income, excluding share-based compensation expense and U.S. GAAP conversion costs, was $2.9 million, or $0.12 per diluted share, compared to $9.9 million, or $0.41 per diluted share, for the same quarter in the prior fiscal year. Income before income taxes was $2.3 million against $9.3 million a year ago. For the six months, the company's revenue was $164.16 million compared to $173.4 million for the same period in the prior fiscal year. Operating income was $5.2 million, compared to $16.24 million for the same period in the prior fiscal year. Non-GAAP operating income was $8.34 million, compared to $19 million for the same period in the prior fiscal year. Net income was $3.6 million, or $0.14 per diluted share, compared to $17.5 million, or $0.73 per diluted share, for the same period in the prior fiscal year. Non-GAAP net income, excluding share-based compensation expense and U.S. GAAP conversion costs, was $6.7 million, or $0.26 per diluted share, compared to $20.26 million, or $0.84 per diluted share, for the same period in the prior fiscal year. Income before income taxes was $5.23 million against $18.8 million a year ago. For the third quarter of fiscal 2012, the company's revenue is expected to be between $80 million and $84 million. Gross margin is expected to be in the range of 20% to 21%, including the negative impact arising from the initial ramp at the acquired fab facility. Operating income is expected to be in the range of breakeven to 1.5%. Non-GAAP operating income is expected to be in the range of 1.8% to 3.3%, excluding estimated $1.5 million share-based compensation expense. Net income is expected to be in the range of net loss of 1.0% to net income of 0.5%, including an expected tax provision of approximately $800,000. Non-GAAP net income is expected to be in the range of 0.8% to 2.3%, excluding estimated $1.5 million share-based compensation expense.