- Alpha and Omega Semiconductor ( AOSL ) rallies 10% on reporting another strong quarter despite the challenge posed by the COVID lockdown in Shanghai and outperformed the guidance midpoint.
- In terms of product mix, DMOS revenue was $138.9M, up 9.2% Y/Y and down 1.2% sequentially. Power IC revenue was $53.1M up 14.2% from year ago and down 12% from the prior quarter.
- Assembly service revenue was $2M as compared to $2.2M last quarter and $3.6M for the same quarter last year.
- Non-GAAP gross margin declined to 33.8%, primarily impacted by the production shutdown at the Shanghai assembly and test facilities in April.
- Non-GAAP operating income was $28.9M as compared to $40.5M for the prior quarter and $29.1M for the same quarter last year.
- Net trade receivables were $65.7M at the end of the June quarter as compared to $39.2M at the end of the prior quarter and $35.8M Y/Y.
- The Company closed the quarter with $314.4M of cash and equivalents.
- Q1 2023 Outlook: Revenue is expected to be $210M plus or minus $3M. Non-GAAP gross margin is expected to be 35.0% plus or minus 1%. Non-GAAP operating expenses are expected to be in the range of $36.5M plus or minus $1M. Interest expense is expected to be $1.2M, and tax expense is expected to be $1.2M to $1.4M.
- Previously: Alpha and Omega Semiconductor Non-GAAP EPS of $0.95 beats by $0.09, revenue of $193.96M beats by $3.96M (Aug. 10)
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Alpha and Omega Semiconductor jumps 10% on Q4 estimates beat, updated guidance