Alpha and Omega Semiconductor Reports Financial Results for the Fiscal Second Quarter of 2021 Ended December 31, 2020

About Alpha and Omega Semiconductor

Alpha and Omega Semiconductor Limited, or AOS, is a designer, developer and global supplier of a broad range of power semiconductors, including a wide portfolio of Power MOSFET, IGBT, IPM, TVS, HVIC, GaN/SiC, Power IC and Digital Power products. AOS has developed extensive intellectual property and technical knowledge that encompasses the latest advancements in the power semiconductor industry, which enables us to introduce innovative products to address the increasingly complex power requirements of advanced electronics. AOS differentiates itself by integrating its Discrete and IC semiconductor process technology, product design, and advanced packaging know-how to develop high performance power management solutions. AOS’ portfolio of products targets high-volume applications, including personal and portable computers, graphic cards, flat panel TVs, home appliances, smart phones, battery packs, quick chargers, home appliances, consumer and industrial motor controls and power supplies for TVs, computers, servers and telecommunications equipment. For more information, please visit www.aosmd.com.

The following unaudited consolidated financial statements are prepared in accordance with U.S. GAAP.

Alpha and Omega Semiconductor Limited

Condensed Consolidated Statements of Operations

(in thousands, except percentages and per share amounts)

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

December 31,
2020

 

September 30,
2020

 

December 31,
2019

 

December 31,
2020

 

December 31,
2019

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

158,830

 

 

$

151,551

 

 

$

117,860

 

 

$

310,381

 

 

$

235,662

 

Cost of goods sold

 

 

110,081

 

 

 

109,028

 

 

 

93,454

 

 

 

219,109

 

 

 

184,324

 

Gross profit

 

 

48,749

 

 

 

42,523

 

 

 

24,406

 

 

 

91,272

 

 

 

51,338

 

Gross margin

 

 

30.7

%

 

 

28.1

%

 

 

20.7

%

 

 

29.4

%

 

 

21.8

%

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

15,423

 

 

 

14,691

 

 

 

12,147

 

 

 

30,114

 

 

 

24,515

 

Selling, general and administrative

 

 

19,736

 

 

 

17,505

 

 

 

15,629

 

 

 

37,241

 

 

 

30,814

 

Total operating expenses

 

 

35,159

 

 

 

32,196

 

 

 

27,776

 

 

 

67,355

 

 

 

55,329

 

Operating income (loss)

 

 

13,590

 

 

 

10,327

 

 

 

(3,370

)

 

 

23,917

 

 

 

(3,991

)

 

 

 

 

 

 

 

 

 

 

 

Interest expense and other income (loss), net

 

 

(381

)

 

 

(549

)

 

 

(635

)

 

 

(930

)

 

 

(1,462

)

Income (loss) before income taxes

 

 

13,209

 

 

 

9,778

 

 

 

(4,005

)

 

 

22,987

 

 

 

(5,453

)

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

 

669

 

 

 

1,011

 

 

 

568

 

 

 

1,680

 

 

 

978

 

Net income (loss) including noncontrolling interest

 

 

12,540

 

 

 

8,767

 

 

 

(4,573

)

 

 

21,307

 

 

 

(6,431

)

Net loss attributable to noncontrolling interest

 

 

(363

)

 

 

(807

)

 

 

(3,568

)

 

 

(1,170

)

 

 

(6,435

)

Net income (loss) attributable to Alpha and Omega Semiconductor Limited

 

$

12,903

 

 

$

9,574

 

 

$

(1,005

)

 

$

22,477

 

 

$

4

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per common share attributable to Alpha and Omega Semiconductor Limited

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.50

 

 

$

0.38

 

 

$

(0.04

)

 

$

0.88

 

 

$

0.00

 

Diluted

 

$

0.47

 

 

$

0.36

 

 

$

(0.04

)

 

$

0.84

 

 

$

0.00

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of common shares attributable to Alpha and Omega Semiconductor Limited used to compute net income (loss) per share

 

 

 

 

 

 

 

 

 

 

Basic

 

 

25,672

 

 

 

25,340

 

 

 

24,701

 

 

 

25,506

 

 

 

24,620

 

Diluted

 

 

27,353

 

 

 

26,314

 

 

 

24,701

 

 

 

26,834

 

 

 

25,362

 

 

 

 

 

 

 

 

 

 

 

 

Alpha and Omega Semiconductor Limited

Condensed Consolidated Balance Sheets

(in thousands, except par value per share)

(unaudited)

 

 

December 31, 2020

 

June 30, 2020

ASSETS

 

 

 

 

Current assets:

 

 

 

 

Cash and cash equivalents

 

$

180,966

 

 

$

158,536

 

Restricted cash

 

 

230

 

 

 

2,190

 

Accounts receivable, net

 

 

24,934

 

 

 

13,272

 

Inventories

 

 

144,307

 

 

 

135,528

 

Other current assets

 

 

10,833

 

 

 

8,807

 

Total current assets

 

 

361,270

 

 

 

318,333

 

Property, plant and equipment, net

 

 

430,808

 

 

 

412,340

 

Operating lease right-of-use assets, net

 

 

34,395

 

 

 

32,948

 

Intangible assets, net

 

 

15,090

 

 

 

16,770

 

Deferred income tax assets

 

 

4,852

 

 

 

4,766

 

Restricted cash - long-term

 

 

2,143

 

 

 

1,978

 

Other long-term assets

 

 

4,607

 

 

 

5,804

 

Total assets

 

$

853,165

 

 

$

792,939

 

LIABILITIES AND EQUITY

 

 

 

 

Current liabilities:

 

 

 

 

Accounts payable

 

$

83,859

 

 

$

86,181

 

Accrued liabilities

 

 

60,483

 

 

 

54,986

 

Income taxes payable

 

 

2,166

 

 

 

1,360

 

Short-term debt

 

 

43,574

 

 

 

30,114

 

Finance lease liabilities

 

 

16,535

 

 

 

15,258

 

Operating lease liabilities

 

 

4,896

 

 

 

4,159

 

Total current liabilities

 

 

211,513

 

 

 

192,058

 

Long-term debt

 

 

93,096

 

 

 

99,775

 

Income taxes payable - long-term

 

 

921

 

 

 

903

 

Deferred income tax liabilities

 

 

860

 

 

 

496

 

Finance lease liabilities - long-term

 

 

20,821

 

 

 

26,842

 

Operating lease liabilities - long-term

 

 

31,102

 

 

 

30,254

 

Other long-term liabilities

 

 

20,196

 

 

 

10,723

 

Total liabilities

 

 

378,509

 

 

 

361,051

 

Equity:

 

 

 

 

Preferred shares, par value $0.002 per share:

 

 

 

 

Authorized: 10,000 shares; issued and outstanding: none at December 31, 2020 and June 30, 2020

 

 

 

 

 

 

Common shares, par value $0.002 per share:

 

 

 

 

Authorized: 100,000 shares; issued and outstanding: 32,394 shares and 25,765 shares, respectively at December 31, 2020 and 31,944 shares and 25,305 shares, respectively at June 30, 2020

 

 

65

 

 

 

64

 

Treasury shares at cost: 6,629 shares at December 31, 2020 and 6,639 shares at June 30, 2020

 

 

(66,097

)

 

 

(66,184

)

Additional paid-in capital

 

 

254,980

 

 

 

246,103

 

Accumulated other comprehensive income (loss)

 

 

1,481

 

 

 

(5,127

)

Retained earnings

 

 

141,289

 

 

 

118,833

 

Total Alpha and Omega Semiconductor Limited shareholder's equity

 

 

331,718

 

 

 

293,689

 

Noncontrolling interest

 

 

142,938

 

 

 

138,199

 

Total equity

 

 

474,656

 

 

 

431,888

 

Total liabilities and equity

 

$

853,165

 

 

$

792,939

 

Supplemental disclosures of financial information:

 

 

 

 

 

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2020

 

As of June 30, 2020

 

 

AOS

 

CQJV

 

Consolidated

 

AOS

 

CQJV

 

Consolidated

Cash and cash equivalents

 

$

142,326

 

 

$

38,640

 

 

$

180,966

 

 

$

110,346

 

 

$

48,190

 

 

$

158,536

 

Bank borrowings liabilities

 

$

28,538

 

 

$

146,676

 

*

$

175,214

 

 

$

32,708

 

 

$

140,652

 

*

$

173,360

 

Inventory

 

$

97,795

 

 

$

46,512

 

 

$

144,307

 

 

$

97,593

 

 

$

37,935

 

 

$

135,528

 

Property, plant and equipment, net

 

$

168,120

 

 

$

262,688

 

 

$

430,808

 

 

$

162,833

 

 

$

249,507

 

 

$

412,340

 


« Previous Page 1 | 2 | 3 | 4 | 5 | 6  Next Page »



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise