Business
Alpha and Omega Semiconductor Announces Updated Financial Guidance
-- September Quarter Results to Exceed Guidance and Consensus -- -- Several End Markets Seeing Accelerated Demand -- SUNNYVALE, Calif.--(BUSINESS WIRE)--
About this update from Alpha And Omega Semiconductor Limited
[{"type":"text","content":"\n-- September Quarter Results to Exceed Guidance and Consensus --\n\n-- Several End Markets Seeing Accelerated Demand --\n\n SUNNYVALE, Calif.--(BUSINESS WIRE)--\nAlpha and Omega Semiconductor Limited (\"AOS\") (Nasdaq: AOSL) today announced that it is updating its financial guidance for the fiscal first quarter ended September 30, 2020.\n\nThe Company now expects revenue for the fiscal first quarter to be between $148 million and $152 million. This exceeds prior guidance of quarterly revenue of $134 million to $138 million and represents 25.6% to 29.0% year-over-year growth. GAAP and non-GAAP gross margins are expected to be around the high end of the respective prior guidance range. Due to the better-than-expected revenue, the Company expects bottom-line results to significantly exceed the current analyst consensus estimates.\n\nAOS Chairman and Chief Executive Officer Dr. Mike Chang commented, “We are pleased that this fiscal year is off to a solid start, especially considering the still-challenging economic environment. Orders and shipments were surprisingly strong across most of our product categories, particularly computing and consumer applications. This was due to robust end market demand and industry-wide shortages. We are also pleased to see important new design wins starting to ramp, such as smartphone, graphic card and gaming. We believe this performance reflects the effectiveness of our strategy to consistently strengthen our product lines, diversify our applications, and closely partner with leading customers in each product category. I also want to recognize the dedication and persistence of our team in executing our strategies under a challenging and difficult environment affected by the ongoing COVID-19 pandemic. We will offer additional color on the September quarter’s financial results and the December quarter’s outlook during our upcoming earnings call.”\n\nAOS plans to release its fiscal first quarter 2021 financial results by early November 2020. The selected financial results included in this press release are preliminary. Actual results are subject to the completion of the Company's quarter-end financial closing procedures.\n\nAbout Alpha and Omega Semiconductor\n\nAlpha and Omega Semiconductor Limited, or AOS, is a designer, developer and global supplier of a broad range of power semiconductors, includi...