Alpha & Omega Semiconductor, Ltd. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended December 31, 2011; Provides Earnings Guidance for the Third Quarter of Fiscal 2012
January 25, 2012 at 04:05 pm
Share
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.
Alpha and Omega Semiconductor Limited is a designer, developer and global supplier of a portfolio of power semiconductors. Its portfolio of products targets high-volume applications, including personal computers, graphic cards, game consoles, flat panel televisions (TV), home appliances, power tools, smart phones, battery packs, consumer and industrial motor controls and power supplies for TVs, computers, servers and telecommunications equipment. Its product portfolio includes power discrete and power ICs that serve the large and diverse analog market for power semiconductors. The power discrete products consist of low, medium and high voltage power MOSFETs. The power ICs deliver power as well as control and regulate the power management variables, such as the flow of current and level of voltage. Its portfolio of power semiconductors includes over 2,600 products. The Company conducts its operations primarily in the United States of America, Hong Kong, China, and South Korea.
Alpha & Omega Semiconductor, Ltd. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended December 31, 2011; Provides Earnings Guidance for the Third Quarter of Fiscal 2012