Alpha and Omega Semiconductor Reports Financial Results for Fiscal Fourth Quarter and Fiscal Year Ended June 30, 2018
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Alpha and Omega Semiconductor Limited
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Reconciliation of Condensed Consolidated GAAP Financial Measures
to Non-GAAP Financial Measures
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(in thousands, except percentages and per share data)
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(unaudited)
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Three Months Ended
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Fiscal Year Ended
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June 30,
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March 31,
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June 30,
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June 30,
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June 30,
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2018
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2018
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2017
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2018
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2017
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GAAP gross profit
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$
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29,183
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$
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27,133
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$
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25,086
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$
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111,928
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$
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91,821
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Share-based compensation
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461
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449
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420
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1,641
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1,041
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Non-GAAP gross profit
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$
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29,644
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$
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27,582
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$
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25,506
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$
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113,569
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$
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92,862
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Non-GAAP gross margin
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27.0
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%
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26.8
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%
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26.0
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%
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26.9
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%
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24.2
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%
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GAAP operating income (loss)
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$
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(75
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)
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$
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681
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$
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3,561
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$
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8,420
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$
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13,144
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Share-based compensation
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2,935
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2,460
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2,049
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11,412
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6,634
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Pre-production expenses related to joint venture
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4,988
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2,772
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—
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7,760
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—
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Non-GAAP operating income
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$
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7,848
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$
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5,913
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$
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5,610
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$
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27,592
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$
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19,778
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Non-GAAP operating margin
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7.1
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%
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5.7
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%
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5.7
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%
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6.5
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%
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5.2
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%
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GAAP net income attributable to AOS
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$
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1,021
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$
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1,651
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$
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4,119
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$
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14,263
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$
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13,829
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Share-based compensation
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2,935
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2,460
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2,049
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11,412
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6,634
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Income tax benefit from tax reform
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—
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—
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—
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(2,690
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—
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Pre-production expenses related to joint venture
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3,643
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1,615
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—
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5,258
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—
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Non-GAAP net income attributable to AOS
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$
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7,599
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$
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5,726
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$
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6,168
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$
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28,243
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$
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20,463
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Non-GAAP net margin attributable to AOS
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6.9
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%
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5.6
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%
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6.3
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%
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6.7
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%
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5.3
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%
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GAAP net income attributable to AOS
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$
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1,021
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$
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1,651
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$
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4,119
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$
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14,263
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$
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13,829
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Share-based compensation
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2,935
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2,460
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2,049
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11,412
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6,634
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Amortization and depreciation
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7,601
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7,431
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7,040
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29,419
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27,188
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Interest expense (income), net
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582
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(34
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(18
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333
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(140
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Income tax expense
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676
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830
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807
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708
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3,652
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EBITDAS
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$
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12,815
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$
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12,338
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$
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13,997
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$
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56,135
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$
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51,163
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GAAP diluted net income per share attributable to AOS
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$
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0.04
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$
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0.07
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$
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0.17
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$
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0.57
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$
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0.56
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Share-based compensation
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0.12
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0.10
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0.08
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0.46
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0.27
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Income tax benefit from tax reform
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—
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—
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—
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(0.10
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—
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Pre-production expenses related to joint venture
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0.15
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0.06
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—
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0.21
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—
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Non-GAAP diluted net income per share attributable to AOS
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$
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0.31
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$
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0.23
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$
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0.25
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$
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1.14
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$
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0.83
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Shares used to compute diluted per share
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24,628
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24,755
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24,960
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24,844
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24,826
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