Alpha and Omega Semiconductor Limited (AOS) today reported financial results for the fiscal fourth quarter and the fiscal year ended June 30, 2018. Quarterly revenue was $109.9 million and annual revenue was $ 421.5 million.
"AOS delivered another quarter of outstanding execution, breaking revenue records both on a quarterly and annual basis. The solid June quarter brought a strong finish to our fiscal year 2018: we achieved an annual revenue growth of 10%, a non-GAAP gross margin expansion of 270 basis points, and non-GAAP earnings per share increase of 37%, as compared to a year ago. During fiscal year 2018, we dedicated our efforts to enhance demand creation and expand capacity.
"I am pleased to announce that the critical investments and heavy lifting of our internal capacity expansion are now largely behind us," stated Dr. Mike Chang, chairman and CEO of the company.
"As we entered fiscal year 2019 with stronger and more diverse product portfolio, increased capacity and enhanced customer partnerships, we are optimistic that our investments in the past year will enable us to capitalize on the next phase of accelerated growth. We remain keenly focused on executing our longer term strategies."
Business outlook for fiscal Q1 ending september 30, 2018
- Revenue is expected to be between $113 million and $117 million.
- Gross margin is expected to be approximately 26.5% plus or minus 1%. Non-GAAP gross margin is expected to be approximately 28.5% plus or minus 1%. Non-GAAP gross margin excludes $0.6 million of estimated share-based compensation charge and $1.7 million of estimated production ramp-up costs relating to the Chongqing joint venture.
- Operating expenses are expected to be in the range of $32.0 million plus or minus $1 million. Non-GAAP operating expenses are expected to be in the range of $24.2 million plus or minus $1 million. Both GAAP and non-GAAP operating expenses include $2.1 million to $2.3 million of estimated expenses relating to the development of our digital power team. Non-GAAP operating expenses exclude an estimated share-based compensation charge of approximately $2.8 million and estimated pre-production expenses relating to the Chongqing joint venture of $5.0 million.
- Tax expense is expected to be approximately $0.6 million to $0.8 million.
- Loss attributable to noncontrolling interest is expected to be around $4.2 million. On a non-GAAP basis, excluding estimated pre-production expenses and production ramp-up costs relating to the Chongqing joint venture of approximately $3.5 million, this item is expected to be approximately $0.7 million.