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Jun 30, 2021
AOS Q4 2021 Earnings Report
AOS reported strong year-over-year performance with record revenue and significantly improved profitability.
Key Takeaways
Alpha and Omega Semiconductor reported a revenue of $177.3 million, an increase of 4.8% quarter-over-quarter and an increase of 44.9% from the same quarter last year. The company's GAAP gross margin was 34.2%, up from 31.1% in the prior quarter and 23.6% year-over-year. GAAP net income per share attributable to AOS was $0.71, compared to $0.58 for the prior quarter and $0.00 earnings per share for the same quarter last year.
Revenue increased by 4.8% quarter-over-quarter and 44.9% year-over-year, reaching $177.3 million.
GAAP gross margin improved to 34.2%, up from 31.1% in the previous quarter and 23.6% year-over-year.
GAAP operating income was $22.4 million, compared to $17.8 million in the prior quarter and a loss of $1.3 million year-over-year.
GAAP net income per share attributable to AOS was $0.71, compared to $0.58 for the prior quarter and $0.00 earnings per share year-over-year.
Forward Guidance
For the fiscal first quarter ending September 30, 2021, AOS expects revenue to be $180 million plus or minus $3 million and gross margin to be 33.7% plus or minus 1%.
Positive Outlook
- Revenue is expected to be $180 million plus or minus $3 million.
- Gross margin is expected to be 33.7% plus or minus 1%.
- Non-GAAP gross margin is expected to be 34.5% plus or minus 1%.
- GAAP operating expenses are expected to be in the range of $37.7 million, plus or minus $1 million.
- Non-GAAP operating expenses are expected to be in the range of $33.5 million plus or minus $1 million.
Challenges Ahead
- Non-GAAP gross margin excludes $0.6 million of estimated share-based compensation charges.
- Non-GAAP gross margin excludes $0.8 million of amortization of purchased intangible.
- Non-GAAP operating expenses exclude $0.5 million of estimated legal expenses related to the government investigation.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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