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Sep 30, 2021
AOS Q1 2022 Earnings Report
AOS reported record revenue and earnings, driven by double-digit growth in all market segments.
Key Takeaways
Alpha and Omega Semiconductor Limited reported financial results for the fiscal first quarter of 2022 ended September 30, 2021. Revenue was $187.0 million, an increase of 5.5% from the prior quarter and an increase of 23.4% from the same quarter last year. GAAP net income per share attributable to AOS was $0.85, compared to $0.71 net income per share for the prior quarter and $0.36 net income per share for the same quarter a year ago. Non-GAAP net income per share attributable to AOS was $1.06 compared to $0.95 for the prior quarter and $0.55 for the same quarter a year ago.
Revenue was $187.0 million, an increase of 5.5% from the prior quarter and an increase of 23.4% from the same quarter last year.
GAAP gross margin was 34.5%, up from 34.2% in the prior quarter and up from 28.1% in the same quarter last year.
Non-GAAP net income per share attributable to AOS was $1.06 compared to $0.95 for the prior quarter and $0.55 for the same quarter a year ago.
The Company closed the quarter with $252.5 million of cash and cash equivalents, including $20.9 million cash balance at the JV Company.
Forward Guidance
AOS expects revenue to be approximately $188 million, plus or minus $3 million. GAAP gross margin is expected to be approximately 34.8% plus or minus 1%. Non-GAAP gross margin is expected to be approximately 35.5% plus or minus 1%. GAAP operating expenses are expected to be in the range of $39.3 million plus or minus $1 million. Non-GAAP operating expenses are expected to be in the range of $34.5 million plus or minus $1 million. Income tax expense is expected to be approximately $1.2 million to $1.4 million. Loss attributable to noncontrolling interest is expected to be approximately $0.5 million.
Positive Outlook
- Revenue is expected to be approximately $188 million, plus or minus $3 million.
- GAAP gross margin is expected to be approximately 34.8% plus or minus 1%.
- Non-GAAP gross margin is expected to be approximately 35.5% plus or minus 1%.
- GAAP operating expenses are expected to be in the range of $39.3 million plus or minus $1 million.
- Non-GAAP operating expenses are expected to be in the range of $34.5 million plus or minus $1 million.
Challenges Ahead
- The following statements are based on management's current expectations.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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