| Alpha and Omega Semiconductor Limited | |||||||||||||||||||||||||
| Reconciliation of Condensed Consolidated GAAP Financial Measures to Non-GAAP Financial Measures | |||||||||||||||||||||||||
| (in thousands, except percentages and per share data) | |||||||||||||||||||||||||
| (unaudited) | |||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
|
March 31,
2018 |
December 31,
2017 |
March 31,
2017 |
March 31,
2018 |
March 31,
2017 |
|||||||||||||||||||||
| GAAP gross profit | $ | 27,133 | $ | 28,082 | $ | 22,697 | $ | 82,745 | $ | 66,735 | |||||||||||||||
| Share-based compensation | 449 | 415 | 222 | 1,180 | 622 | ||||||||||||||||||||
| Non-GAAP gross profit | $ | 27,582 | $ | 28,497 | $ | 22,919 | $ | 83,925 | $ | 67,357 | |||||||||||||||
| Non-GAAP gross margin as a % of revenue | 26.8 | % | 27.4 | % | 24.6 | % | 26.9 | % | 23.6 | % | |||||||||||||||
| GAAP operating income | $ | 681 | $ | 3,224 | $ | 3,005 | $ | 8,495 | $ | 9,583 | |||||||||||||||
| Share-based compensation | 2,460 | 4,009 | 1,715 | 8,477 | 4,585 | ||||||||||||||||||||
| Pre-production costs related to joint venture | 2,772 | — | — | 2,772 | — | ||||||||||||||||||||
| Non-GAAP operating income | $ | 5,913 | $ | 7,233 | $ | 4,720 | $ | 19,744 | $ | 14,168 | |||||||||||||||
| Non-GAAP operating income as a % of revenue | 5.7 | % | 7.0 | % | 5.1 | % | 6.3 | % | 5.0 | % | |||||||||||||||
| GAAP net income attributable to AOS | $ | 1,651 | $ | 6,791 | $ | 3,556 | $ | 13,242 | $ | 9,710 | |||||||||||||||
| Share-based compensation | 2,460 | 4,009 | 1,715 | 8,477 | 4,585 | ||||||||||||||||||||
| Income tax benefit from tax reform | — | (2,690 | ) | — | (2,690 | ) | — | ||||||||||||||||||
| Pre-production costs related to joint venture | 1,615 | — | — | 1,615 | — | ||||||||||||||||||||
| Non-GAAP net income attributable to AOS | $ | 5,726 | $ | 8,110 | $ | 5,271 | $ | 20,644 | $ | 14,295 | |||||||||||||||
| Non-GAAP net income attributable to AOS as a % of revenue | 5.6 | % | 7.8 | % | 5.7 | % | 6.6 | % | 5.0 | % | |||||||||||||||
| GAAP net income attributable to AOS | $ | 1,651 | $ | 6,791 | $ | 3,556 | $ | 13,242 | $ | 9,710 | |||||||||||||||
| Share-based compensation | 2,460 | 4,009 | 1,715 | 8,477 | 4,585 | ||||||||||||||||||||
| Amortization and depreciation | 7,431 | 7,408 | 6,885 | 21,818 | 20,148 | ||||||||||||||||||||
| Interest income | (34 | ) | (174 | ) | (54 | ) | (249 | ) | (121 | ) | |||||||||||||||
| Income tax expense (benefit) | 830 | (2,072 | ) | 523 | 32 | 2,845 | |||||||||||||||||||
| EBITDAS | $ | 12,338 | $ | 15,962 | $ | 12,625 | $ | 43,320 | $ | 37,167 | |||||||||||||||
| GAAP diluted net income per share attributable to AOS | $ | 0.07 | $ | 0.27 | $ | 0.14 | $ | 0.53 | $ | 0.39 | |||||||||||||||
| Share-based compensation | 0.10 | 0.16 | 0.07 | 0.35 | 0.19 | ||||||||||||||||||||
| Income tax benefit from tax reform | — | (0.11 | ) | — | (0.11 | ) | — | ||||||||||||||||||
| Pre-production costs related to joint venture | 0.06 | — | — | 0.06 | — | ||||||||||||||||||||
| Non-GAAP diluted net income per share attributable to AOS | $ | 0.23 | $ | 0.32 | $ | 0.21 | $ | 0.83 | $ | 0.58 | |||||||||||||||
| Shares used to compute basic per share | 23,795 | 23,925 | 23,675 | 23,914 | 23,396 | ||||||||||||||||||||
| Shares used to compute dilute per share | 24,755 | 25,033 | 24,951 | 24,916 | 24,781 | ||||||||||||||||||||
Alpha and Omega Semiconductor Reports Financial Results for the Fiscal Third Quarter of 2018 Ended March 31, 2018
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