Alpha and Omega Semiconductor Reports Financial Results for the Fiscal First Quarter of 2019 Ended September 30, 2018

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
September 30,
2018
June 30,
2018
September 30,
2017
 
GAAP gross profit $ 32,611 $ 29,183 $ 27,530
Share-based compensation 497 461 316
Production ramp up costs related to joint venture 1,117      
Non-GAAP gross profit $ 34,225   $ 29,644   $ 27,846  
Non-GAAP gross margin 29.7 % 27.0 % 26.6 %
 
GAAP operating income (loss) $ 875 $ (75 ) $ 4,590
Share-based compensation 3,129 2,935 2,008
Pre-production costs related to joint venture 4,627 4,988
Production ramp up costs related to joint venture 1,117      
Non-GAAP operating income $ 9,748   $ 7,848   $ 6,598  
Non-GAAP operating margin 8.5 % 7.1 % 6.3 %
 
GAAP net income attributable to AOS $ 2,416 $ 1,021 $ 4,800
Share-based compensation 3,129 2,935 2,008
Pre-production expenses related to joint venture 2,662 3,643
Production ramp up costs related to joint venture 582      
Non-GAAP net income attributable to AOS $ 8,789   $ 7,599   $ 6,808  
Non-GAAP net margin attributable to AOS 7.6 % 6.9 % 6.5 %
 
GAAP net income attributable to AOS $ 2,416 $ 1,021 $ 4,800
Share-based compensation 3,129 2,935 2,008
Amortization and depreciation 7,870 7,601 6,978
Interest expense (income), net 1,424 582 (41 )
Income tax expense 560   676   1,274  
EBITDAS $ 15,399   $ 12,815   $ 15,019  
 
 
GAAP diluted net income per share attributable to AOS $ 0.10 $ 0.04 $ 0.19
Share-based compensation 0.13 0.12 0.08
Pre-production expenses related to joint venture 0.11 0.15
Production ramp up costs related to joint venture 0.02      
Non-GAAP diluted net income per share attributable to AOS $ 0.36   $ 0.31   $ 0.27  
 
 
Shares used to compute diluted net income per share 24,594 24,628 24,960
 



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