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Dec 31, 2019
AOS Q2 2020 Earnings Report
AOS reported flat quarter-over-quarter revenue and a 2.6% increase year-over-year, with non-GAAP EPS of $0.23, despite facing challenging conditions including a DOJ investigation and the coronavirus outbreak.
Key Takeaways
Alpha and Omega Semiconductor Limited reported financial results for the fiscal second quarter of 2020, ended December 31, 2019. Revenue was $117.9 million, flat quarter-over-quarter and an increase of 2.6% year-over-year. GAAP net loss per share attributable to AOS was $0.04, while non-GAAP earnings per share attributable to AOS was $0.23.
Revenue was $117.9 million, flat quarter-over-quarter and up 2.6% year-over-year.
GAAP gross margin was 20.7%, while non-GAAP gross margin was 28.3%.
GAAP operating loss was $3.4 million, but non-GAAP operating income was $7.6 million.
The company is cooperating with a Department of Justice investigation and expects financial performance in the March quarter to be negatively impacted.
Forward Guidance
The company expects weaker than normal seasonality in the March quarter due to the estimated production loss in China caused by the coronavirus outbreak and the suspension of shipments to Huawei. Revenue is expected to be between $106 million and $110 million.
Positive Outlook
- Momentum in design wins and market share gains at multiple customers continues to build across key market segments.
- Added capacity at Chongqing Joint Venture this year.
- Better supporting multiple global OEM and ODM customers across mobile, PC and home appliance applications.
- Bringing up production volumes toward peak season.
- Remain encouraged by the opportunities ahead.
Challenges Ahead
- Weaker than normal seasonality in our business during the March quarter due to the estimated production loss in China caused by the coronavirus outbreak and the suspension of shipments to Huawei.
- Financial performance in the March quarter will be negatively impacted by the Huawei shipment interruption and by additional professional fees incurred in connection with the investigation.
Historical Earnings Impact
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