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AOS: Revenue up 4% sequentially
Alpha and Omega Semiconductor reported revenue was $83.9 million for the third quarter of fiscal 2012 (ended March 31, 2012), an increase of 3.9% from $80.7 million for the prior quarter.
GAAP gross margin was 23.0%, compared to 22.6% for the prior quarter. GAAP operating income was $3.8 million, compared to $2.3 million for the prior quarter. GAAP net income was $2.6 million, compared to $1.5 million for the prior quarter. GAAP diluted EPS was $0.10 as compared to $0.06 for the prior quarter.
"Our strong performance this quarter was the combined results of improved market conditions and more importantly, the precise execution of our business strategies. Our new products are gaining traction in the markets we serve and the favorable product mix has increased our gross margins," said Dr. Mike Chang, Chief Executive Officer and Chairman of AOS.
"We are starting off 2012 with renewed energy and a healthy backlog with a solid book-to-bill ratio at the end of the March quarter," Dr. Chang continued. "We have an unwavering focus on the diversification of our product portfolio which will expand our served available markets. We are ramping our new fab in Oregon as planned, which I strongly believe will improve our revenue and gross margin as it helps us enhance the efficiency of R&D efforts and accelerate the time-to-market of new products. We are well positioned to grow our company with increased and sustained profitability."
Fiscal Q4, 2012 Business Outlook
Revenue is expected to be between $88.0 million and $92.0 million.
GAAP gross margin is expected to be in the range of 24.0% to 25.0%, including the negative impact arising from the initial ramp at the Oregon fab facility.
GAAP operating expense is expected to be in the range of $16.0 million to $17.0 million.
GAAP operating income is expected to be in the range of 5.0% to 6.0% of revenue. Non-GAAP operating income is expected to be in the range of 6.5% to 7.5% of revenue.
GAAP net income is expected to be in the range of 3.5% to 4.5% of revenue, including the income tax provision which is expected to be in the range of $1.3 million to $1.5 million. Non-GAAP net income is expected to be in the range of 5.0% to 6.0% of revenue.
