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 |
|
Six Months Ended |
||||||||||||||||
|
|
December 31,
|
|
September 30,
|
|
December 31,
|
|
December 31,
|
|
December 31,
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
GAAP gross profit |
|
$ |
48,749 |
|
|
$ |
42,523 |
|
|
$ |
24,406 |
|
|
$ |
91,272 |
|
|
$ |
51,338 |
|
Share-based compensation |
|
|
383 |
|
|
|
385 |
|
|
|
404 |
|
|
|
768 |
|
|
|
840 |
|
Amortization of purchased intangible |
|
|
811 |
|
|
|
812 |
|
|
|
— |
|
|
|
1,623 |
|
|
|
— |
|
| Production ramp up costs related to joint venture |
|
|
— |
|
|
|
275 |
|
|
|
8,486 |
|
|
|
275 |
|
|
|
14,477 |
|
| Non-GAAP gross profit |
|
$ |
49,943 |
|
|
$ |
43,995 |
|
|
$ |
33,296 |
|
|
$ |
93,938 |
|
|
$ |
66,655 |
|
| Non-GAAP gross margin as a % of revenue |
|
|
31.4 |
% |
|
|
29.0 |
% |
|
|
28.3 |
% |
|
|
30.3 |
% |
|
|
28.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
| GAAP operating expense |
|
$ |
35,159 |
|
|
$ |
32,196 |
|
|
$ |
27,776 |
|
|
$ |
67,355 |
|
|
$ |
55,329 |
|
| Share-based compensation |
|
|
2,841 |
|
|
|
2,491 |
|
|
|
2,083 |
|
|
|
5,332 |
|
|
|
4,016 |
|
| Legal costs related to government investigation |
|
|
843 |
|
|
|
1,107 |
|
|
|
— |
|
|
|
1,950 |
|
|
|
— |
|
| Non-GAAP operating expense |
|
$ |
31,475 |
|
|
$ |
28,598 |
|
|
$ |
25,693 |
|
|
$ |
60,073 |
|
|
$ |
51,313 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
| GAAP operating income (loss) |
|
$ |
13,590 |
|
|
$ |
10,327 |
|
|
$ |
(3,370 |
) |
|
$ |
23,917 |
|
|
$ |
(3,991 |
) |
| Share-based compensation |
|
|
3,224 |
|
|
|
2,876 |
|
|
|
2,487 |
|
|
|
6,100 |
|
|
|
4,856 |
|
| Amortization of purchased intangible |
|
|
811 |
|
|
|
812 |
|
|
|
— |
|
|
|
1,623 |
|
|
|
— |
|
| Production ramp up costs related to joint venture |
|
|
— |
|
|
|
275 |
|
|
|
8,486 |
|
|
|
275 |
|
|
|
14,477 |
|
| Legal costs related to government investigation |
|
|
843 |
|
|
|
1,107 |
|
|
|
— |
|
|
|
1,950 |
|
|
|
— |
|
| Non-GAAP operating income |
|
$ |
18,468 |
|
|
$ |
15,397 |
|
|
$ |
7,603 |
|
|
$ |
33,865 |
|
|
$ |
15,342 |
|
| Non-GAAP operating margin as a % of revenue |
|
|
11.6 |
% |
|
|
10.2 |
% |
|
|
6.5 |
% |
|
|
10.9 |
% |
|
|
6.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
| GAAP net income (loss) attributable to AOS |
|
$ |
12,903 |
|
|
$ |
9,574 |
|
|
$ |
(1,005 |
) |
|
$ |
22,477 |
|
|
$ |
4 |
|
| Share-based compensation |
|
|
3,224 |
|
|
|
2,876 |
|
|
|
2,487 |
|
|
|
6,100 |
|
|
|
4,856 |
|
| Amortization of purchased intangible |
|
|
811 |
|
|
|
812 |
|
|
|
— |
|
|
|
1,623 |
|
|
|
— |
|
| Pre-production expenses related to joint venture |
|
|
— |
|
|
|
— |
|
|
|
(25 |
) |
|
|
— |
|
|
|
24 |
|
| Production ramp up costs related to joint venture |
|
|
— |
|
|
|
135 |
|
|
|
4,319 |
|
|
|
135 |
|
|
|
7,368 |
|
| Legal costs related to government investigation |
|
|
843 |
|
|
|
1,107 |
|
|
|
— |
|
|
|
1,950 |
|
|
|
— |
|
| Income tax effect of non-GAAP adjustments |
|
|
(1 |
) |
|
|
(8 |
) |
|
|
(2 |
) |
|
|
(9 |
) |
|
|
(7 |
) |
| Non-GAAP net income attributable to AOS |
|
$ |
17,780 |
|
|
$ |
14,496 |
|
|
$ |
5,774 |
|
|
$ |
32,276 |
|
|
$ |
12,245 |
|
| Non-GAAP net margin attributable to AOS as a % of revenue |
|
|
11.2 |
% |
|
|
9.6 |
% |
|
|
4.9 |
% |
|
|
10.4 |
% |
|
|
5.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
| GAAP net income (loss) attributable to AOS |
|
$ |
12,903 |
|
|
$ |
9,574 |
|
|
$ |
(1,005 |
) |
|
$ |
22,477 |
|
|
$ |
4 |
|
| Share-based compensation |
|
|
3,224 |
|
|
|
2,876 |
|
|
|
2,487 |
|
|
|
6,100 |
|
|
|
4,856 |
|
| Amortization and depreciation |
|
|
13,200 |
|
|
|
12,489 |
|
|
|
10,850 |
|
|
|
25,689 |
|
|
|
21,754 |
|
| Interest expense (income), net |
|
|
1,649 |
|
|
|
1,622 |
|
|
|
992 |
|
|
|
3,271 |
|
|
|
772 |
|
| Income tax expense |
|
|
669 |
|
|
|
1,011 |
|
|
|
568 |
|
|
|
1,680 |
|
|
|
978 |
|
| EBITDAS |
|
$ |
31,645 |
|
|
$ |
27,572 |
|
|
$ |
13,892 |
|
|
$ |
59,217 |
|
|
$ |
28,364 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
| GAAP diluted net income (loss) per share attributable to AOS |
|
$ |
0.47 |
|
|
$ |
0.36 |
|
|
$ |
(0.04 |
) |
|
$ |
0.84 |
|
|
$ |
0.00 |
|
| Share-based compensation |
|
|
0.12 |
|
|
|
0.11 |
|
|
|
0.10 |
|
|
|
0.23 |
|
|
|
0.19 |
|
| Pre-production expenses related to joint venture |
|
|
— |
|
|
|
— |
|
|
|
(0.00 |
) |
|
|
— |
|
|
|
0.00 |
|
| Production ramp up costs related to joint venture |
|
|
— |
|
|
|
0.01 |
|
|
|
0.17 |
|
|
|
0.01 |
|
|
|
0.29 |
|
| Legal costs related to government investigation |
|
|
0.03 |
|
|
|
0.04 |
|
|
|
— |
|
|
|
0.07 |
|
|
|
— |
|
| Amortization of purchased intangible |
|
|
0.03 |
|
|
|
0.03 |
|
|
|
— |
|
|
|
0.06 |
|
|
|
— |
|
| Income tax effect of non-GAAP adjustments |
|
|
(0.00 |
) |
|
|
(0.00 |
) |
|
|
(0.00 |
) |
|
|
(0.00 |
) |
|
|
(0.00 |
) |
| Non-GAAP diluted net income per share attributable to AOS |
|
$ |
0.65 |
|
|
$ |
0.55 |
|
|
$ |
0.23 |
|
|
$ |
1.20 |
|
|
$ |
0.48 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
| Shares used to compute GAAP diluted net income (loss) per share |
|
|
27,353 |
|
|
|
26.314 |
|
|
|
24,701 |
|
|
|
26,834 |
|
|
|
25,362 |
|
| Shares used to compute Non-GAAP diluted net income per share |
|
|
27,353 |
|
|
|
26.314 |
|
|
|
25,594 |
|
|
|
26,834 |
|
|
|
25,362 |
|
Alpha and Omega Semiconductor Reports Financial Results for the Fiscal Second Quarter of 2021 Ended December 31, 2020
 |  | More IC News
|
|
** CQJV EBITDAS includes amounts attributable to noncontrolling interest.
RELATED NEWS
