| 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 | Fiscal Year Ended | |||||||||||||||||||
| June 30, | March 31, | June 30, | June 30, | June 30, | ||||||||||||||||
| 2018 | 2018 | 2017 | 2018 | 2017 | ||||||||||||||||
| GAAP gross profit | $ | 29,183 | $ | 27,133 | $ | 25,086 | $ | 111,928 | $ | 91,821 | ||||||||||
| Share-based compensation | 461 | 449 | 420 | 1,641 | 1,041 | |||||||||||||||
| Non-GAAP gross profit | $ | 29,644 | $ | 27,582 | $ | 25,506 | $ | 113,569 | $ | 92,862 | ||||||||||
| Non-GAAP gross margin | 27.0 | % | 26.8 | % | 26.0 | % | 26.9 | % | 24.2 | % | ||||||||||
| GAAP operating income (loss) | $ | (75 | ) | $ | 681 | $ | 3,561 | $ | 8,420 | $ | 13,144 | |||||||||
| Share-based compensation | 2,935 | 2,460 | 2,049 | 11,412 | 6,634 | |||||||||||||||
| Pre-production expenses related to joint venture | 4,988 | 2,772 | — | 7,760 | — | |||||||||||||||
| Non-GAAP operating income | $ | 7,848 | $ | 5,913 | $ | 5,610 | $ | 27,592 | $ | 19,778 | ||||||||||
| Non-GAAP operating margin | 7.1 | % | 5.7 | % | 5.7 | % | 6.5 | % | 5.2 | % | ||||||||||
| GAAP net income attributable to AOS | $ | 1,021 | $ | 1,651 | $ | 4,119 | $ | 14,263 | $ | 13,829 | ||||||||||
| Share-based compensation | 2,935 | 2,460 | 2,049 | 11,412 | 6,634 | |||||||||||||||
| Income tax benefit from tax reform | — | — | — | (2,690 | ) | — | ||||||||||||||
| Pre-production expenses related to joint venture | 3,643 | 1,615 | — | 5,258 | — | |||||||||||||||
| Non-GAAP net income attributable to AOS | $ | 7,599 | $ | 5,726 | $ | 6,168 | $ | 28,243 | $ | 20,463 | ||||||||||
| Non-GAAP net margin attributable to AOS | 6.9 | % | 5.6 | % | 6.3 | % | 6.7 | % | 5.3 | % | ||||||||||
| GAAP net income attributable to AOS | $ | 1,021 | $ | 1,651 | $ | 4,119 | $ | 14,263 | $ | 13,829 | ||||||||||
| Share-based compensation | 2,935 | 2,460 | 2,049 | 11,412 | 6,634 | |||||||||||||||
| Amortization and depreciation | 7,601 | 7,431 | 7,040 | 29,419 | 27,188 | |||||||||||||||
| Interest expense (income), net | 582 | (34 | ) | (18 | ) | 333 | (140 | ) | ||||||||||||
| Income tax expense | 676 | 830 | 807 | 708 | 3,652 | |||||||||||||||
| EBITDAS | $ | 12,815 | $ | 12,338 | $ | 13,997 | $ | 56,135 | $ | 51,163 | ||||||||||
| GAAP diluted net income per share attributable to AOS | $ | 0.04 | $ | 0.07 | $ | 0.17 | $ | 0.57 | $ | 0.56 | ||||||||||
| Share-based compensation | 0.12 | 0.10 | 0.08 | 0.46 | 0.27 | |||||||||||||||
| Income tax benefit from tax reform | — | — | — | (0.10 | ) | — | ||||||||||||||
| Pre-production expenses related to joint venture | 0.15 | 0.06 | — | 0.21 | — | |||||||||||||||
| Non-GAAP diluted net income per share attributable to AOS | $ | 0.31 | $ | 0.23 | $ | 0.25 | $ | 1.14 | $ | 0.83 | ||||||||||
| Shares used to compute diluted per share | 24,628 | 24,755 | 24,960 | 24,844 | 24,826 | |||||||||||||||
Alpha and Omega Semiconductor Reports Financial Results for Fiscal Fourth Quarter and Fiscal Year Ended June 30, 2018
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