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Sep 30, 2023
AOS Q1 2024 Earnings Report
AOS reported solid fiscal Q1 results driven by rebound in PC and smartphone shipments.
Key Takeaways
Alpha and Omega Semiconductor Limited reported revenue of $180.6 million for the fiscal first quarter of 2024 ended September 30, 2023, an increase of 11.8% from the prior quarter and a decrease of 13.4% from the same quarter last year. GAAP net income per diluted share was $0.19, compared to $0.04 net loss per share for the prior quarter, and $0.88 net income per share for the same quarter a year ago.
Revenue increased by 11.8% from the prior quarter but decreased by 13.4% compared to the same quarter last year.
GAAP gross margin increased to 28.2% from 27.6% in the prior quarter but decreased from 34.1% in the same quarter last year.
GAAP operating income was $9.4 million, up from $2.6 million in the prior quarter but down from $25.5 million in the same quarter last year.
The company closed the quarter with $193.6 million in cash and cash equivalents.
Forward Guidance
For the second quarter of fiscal year 2024, the company expects revenue to be approximately $165 million, plus or minus $10 million, and GAAP gross margin to be 27.1%, plus or minus 1%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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