Alpha and Omega Semiconductor Limited (AOS) today reported financial results for the fiscal fourth quarter and the fiscal year ended June 30, 2017 including revenue of $383.3 million, an increase of 14.2% from $335.7 million for the prior year.
"AOS delivered another strong quarter with record quarterly revenue of $98 million and the ninth consecutive quarter of gross margin expansion, driven by healthy demand for our diversified new products. We closed fiscal year 2017 with record annual revenue of $383 million and a significant increase in earnings per share from a year ago," said Dr. Mike Chang, the chairman and CEO of the company.
"In response to current environment of tight supply, we are taking active measures to meet customer demand, including expanding our manufacturing capacity starting from the September quarter. Looking ahead, we are confident that we can continue to expand our business and improve profitability as we are seeing more sustainable growth opportunities,." Dr. Chang continued.
Additional results included:
- GAAP gross margin was 24.0%, compared to 19.6% for the prior year. Non-GAAP gross margin was 24.2%, compared to 19.8% for the prior year.
- GAAP operating income was $13.1 million, compared to operating income of $1.5 million for the prior year. Non-GAAP operating income was $19.8 million, compared to $6.3 million for the prior year.
- GAAP net income attributable to AOS was $13.8 million, compared to net loss attributable to AOS of $2.9 million for the prior year. Non-GAAP net income attributable to AOS was $20.5 million, compared to non-GAAP net income attributable to AOS of $1.8 million for the prior year.
- GAAP diluted income per share attributable to AOS was $0.56, compared to diluted loss per share attributable to AOS of $0.13 for the prior year. Non-GAAP diluted income per share attributable to AOS was $0.83, compared to non-GAAP diluted income attributable to AOS of $0.08 for the prior year.
Business Outlook for Fiscal Q1 Ending September 30, 2017:
- Revenue is expected to be between $101 million and $105 million.
- GAAP gross margin is expected to be in the range of 25.5% plus or minus 1%.
- GAAP operating expenses are expected to be in the range of $22 million plus or minus $1 million.
- Tax expense is expected to be approximately $1.1 million to $1.3 million.
- Loss attributable to non-controlling interest is expected to be approximately $1.6 million.
The above projections on GAAP gross margin and GAAP operating expenses include estimated share-based compensation expense of $2.0 million to $2.3 million.