<SEC-DOCUMENT>0001171843-16-009681.txt : 20160504
<SEC-HEADER>0001171843-16-009681.hdr.sgml : 20160504
<ACCEPTANCE-DATETIME>20160504160550
ACCESSION NUMBER:		0001171843-16-009681
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160504
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160504
DATE AS OF CHANGE:		20160504

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALPHA & OMEGA SEMICONDUCTOR Ltd
		CENTRAL INDEX KEY:			0001387467
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34717
		FILM NUMBER:		161619290

	BUSINESS ADDRESS:	
		STREET 1:		475 OAKMEAD PARKWAY
		CITY:			SUNNYVALE
		STATE:			CA
		ZIP:			94085
		BUSINESS PHONE:		408-830-9742

	MAIL ADDRESS:	
		STREET 1:		475 OAKMEAD PARKWAY
		CITY:			SUNNYVALE
		STATE:			CA
		ZIP:			94085

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALPHA & OMEGA SEMICONDUCTOR LTD
		DATE OF NAME CHANGE:	20070123
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_050416.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>UNITED STATES</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Washington, D.C. 20549</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">_________________________________</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>FORM 8-K</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>_________________________________</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>CURRENT REPORT</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Pursuant to Section&nbsp;13 or 15(d) of the</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Date of Report (Date of earliest event reported): May 4, 2016</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;<FONT STYLE="font-size: 10pt"><B>_________________________________</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Alpha and Omega Semiconductor Limited</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(Exact name of registrant as specified in its charter)</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 34%">&nbsp;</td>
    <td style="vertical-align: bottom; width: 1%">&nbsp;</td>
    <td style="width: 32%">&nbsp;</td>
    <td style="vertical-align: bottom; width: 1%">&nbsp;</td>
    <td style="width: 32%">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: center"><font style="font-size: 10pt"><b>Bermuda</b></font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top; text-align: center"><font style="font-size: 10pt"><b>001-34717</b></font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top; text-align: center"><font style="font-size: 10pt"><b>77-0553536</b></font></td></tr>
<tr>
    <td style="vertical-align: top">
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(State or other jurisdiction</b></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><b>of&nbsp;incorporation)</b></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(Commission</b></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><b>File Number)</b></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(I.R.S. Employer</b></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><b>Identification No.)</b></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P></td></tr>
</table>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Clarendon House</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>2 Church Street</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Hamilton HM 11</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Bermuda</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(Address of principal executive offices)</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(408) 830-9742</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(Registrant&rsquo;s telephone number, including area code)</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>N/A</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(Former name or former address, if changed since last report)</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Check the appropriate box below if the Form&nbsp;8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction&nbsp;A.2. below):</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 4%"><font style="font-family: Wingdings; font-size: 10pt">&uml;</font></td>
    <td style="width: 96%"><font style="font-size: 10pt">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</font></td></tr>
</table>
<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 4%"><font style="font-family: Wingdings; font-size: 10pt">&uml;</font></td>
    <td style="width: 96%"><font style="font-size: 10pt">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></td></tr>
</table>
<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 4%"><font style="font-family: Wingdings; font-size: 10pt">&uml;</font></td>
    <td style="width: 96%"><font style="font-size: 10pt">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></td></tr>
</table>
<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 4%"><font style="font-family: Wingdings; font-size: 10pt">&uml;</font></td>
    <td style="width: 96%"><font style="font-size: 10pt">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></td></tr>
</table>
<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item&nbsp;2.02.&#9;Results of Operations and Financial Condition.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">The information in Item 2.02 of this Current Report, including the
accompanying exhibits, is being furnished and shall not be deemed &ldquo;filed&rdquo; for the purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), or otherwise subject to the liabilities of Section 18. The&nbsp;information
in Item 2.02 of this Current Report shall not be incorporated by reference into any registration statement or other document filed
pursuant to the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language contained
in such filing.</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">On May 4, 2016, Alpha and Omega Semiconductor Limited (the &ldquo;Company&rdquo;)
issued a press release regarding its financial results for the fiscal third quarter of 2016 ended March 31, 2016. A copy of the
press release is furnished herewith as Exhibit 99.1 and is incorporated by reference herein. On the same day, the Company is holding
an investor teleconference and webcast, which includes management&rsquo;s prepared remarks regarding the financial results for
the fiscal third quarter of 2016. The script of such prepared remarks is furnished herewith as Exhibit 99.2 and is incorporated
by reference herein.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

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<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 11%; text-align: center">(d) Exhibits.</TD>
    <TD STYLE="width: 79%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">99.1</TD>
    <TD>Press Release dated May 4, 2016</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">99.2</TD>
    <TD>Script
of Management&rsquo;s Prepared Remarks for Investor Teleconference and Webcast, dated May 4, 2016</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>








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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>SIGNATURE</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Dated: May 4, 2016</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2"><B>Alpha and Omega Semiconductor Limited</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 33%">&nbsp;</TD>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="width: 9%">By:</TD>
    <TD STYLE="width: 24%; border-bottom: Black 1pt solid">/s/&nbsp;&nbsp;&nbsp;&nbsp;Yifan Liang</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Yifan Liang</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD NOWRAP>Chief Financial Officer and Corporate Secretary</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><html lang="en-US"><head><title>EdgarFiling</title><meta content="text/html; charset=windows-1252"><meta name="GENERATOR" content="MSHTML 8.00.7601.18094"></head><body bgcolor="#ffffff"><p style="text-align: right;"><strong>EXHIBIT 99.1</strong></p><p style="text-align: center;"><strong>Alpha and Omega Semiconductor Reports Financial Results for the Fiscal Third Quarter of 2016 Ended March 31, 2016</strong></p><p style="text-align: center;"><p> <p>SUNNYVALE, Calif., May  04, 2016  (GLOBE NEWSWIRE) -- Alpha and Omega Semiconductor Limited (&#8220;AOS&#8221;) (NASDAQ:AOSL), today reported financial results for the fiscal third quarter of 2016 ended March 31, 2016.<br></p>  <p>The results for the fiscal third quarter of 2016 ended March 31, 2016 were as follows:</p> <table style="border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; "><tr><td colspan="13" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong>GAAP Financial Comparison</strong></td></tr><tr><td colspan="13" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; "><strong>Quarterly</strong></td></tr><tr><td colspan="13" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; ">(in millions, except percentage and per share data)</td></tr><tr><td colspan="13" style="text-align: center ;  vertical-align: bottom; vertical-align: bottom ; ">(unaudited)</td></tr><tr><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="11" style="border-bottom: solid black 1pt ; text-align: center ;  vertical-align: bottom; vertical-align: bottom ; ">Three Months Ended</td></tr><tr><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="border-bottom: solid black 1pt ; text-align: center ;  vertical-align: bottom; vertical-align: bottom ; ">March 31, 2016</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="border-bottom: solid black 1pt ; text-align: center ;  vertical-align: bottom; vertical-align: bottom ; ">December 31, 2015</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="border-bottom: solid black 1pt ; text-align: center ;  vertical-align: bottom; vertical-align: bottom ; ">March 31, 2015</td></tr><tr><td style="vertical-align: bottom ; ">Revenue</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">$</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">83.0</td><td style="vertical-align: top ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">$</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">79.8</td><td style="vertical-align: top ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">$</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">76.9</td><td style="vertical-align: top ; ">&#160;</td></tr><tr><td style="vertical-align: bottom ; ">Gross Margin</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">19.7</td><td style="vertical-align: bottom ; text-align: left ;  vertical-align: bottom; ">%</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">18.8</td><td style="vertical-align: bottom ; text-align: left ;  vertical-align: bottom; ">%</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">16.6</td><td style="vertical-align: bottom ; text-align: left ;  vertical-align: bottom; ">%</td></tr><tr><td style="vertical-align: bottom ; ">Operating Loss</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">$</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#8212;</td><td style="vertical-align: top ; text-align: left ;  vertical-align: bottom; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">$</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(0.6</td><td style="vertical-align: bottom ; text-align: left ;  vertical-align: bottom; ">)</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">$</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(3.4</td><td style="vertical-align: bottom ; text-align: left ;  vertical-align: bottom; ">)</td></tr><tr><td style="vertical-align: bottom ; ">Net Loss</td><td style="vertical-align: bottom ; 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To access the live webcast and the subsequent replay of the conference call, which will be available for seven days after the live call, go to the "Events &amp; Presentations" section of the company's investor relations website, http://investor.aosmd.com.&#160; In addition, a copy of the script of prepared remarks by CEO and CFO at the investor teleconference and webcast is available prior to the call at the Company&#8217;s investor relations website.</p>  <p><strong>Forward Looking Statements</strong><br>This press release contains forward-looking statements that are based on current expectations, estimates, forecasts and projections of future performance based on management's judgment, beliefs, current trends, and anticipated product performance.&#160; These forward looking statements include, without limitation, statements relating to the expected new product cycle, projected amount of revenues, gross margin, operating income/(expenses), tax expenses, net income/(loss), and share-based compensation expenses, expectation with respect to improvement in profit, our recovery progress and competitive position, our ability and strategy to develop new products, expand our sales, design wins, revenue and profitability, growth in revenue and market share, seasonality fluctuation in customer demand, the execution of our business plan, and other information under the section entitled &#8220;Business Outlook for Fiscal Q4 Ending June 30, 2016&#8221;.&#160; Forward looking statements involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements.&#160; These factors include, but are not limited to, the decline of the PC industry and our ability to respond to such decline, our ability to introduce or develop new and enhanced products that achieve market acceptance, the actual product performance in volume production, the quality and reliability of our product, our ability to achieve design wins, the general business and economic conditions, the state of semiconductor industry and seasonality of our markets, our ability to maintain factory utilization at a desirable level, our ability to successfully operate joint venture, and other risks as described in our SEC filings, including our Annual Report on Form 10-K for the fiscal year ended June 30, 2015 filed on August 27, 2015.&#160; Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements.&#160; Although we believe that the expectations reflected in the forward looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements.&#160; You should not place undue reliance on these forward-looking statements.&#160; All information provided in this press release is as of today's date, unless otherwise stated, and AOS undertakes no duty to update such information, except as required under applicable law.</p>  <p><strong>Use of Non-GAAP Financial Measures</strong><br>To supplement our unaudited consolidated financial statements presented on a basis consistent with U.S. GAAP, we disclose certain non-GAAP financial measures, including non-GAAP gross profit, gross margin, operating income/(loss), net income/(loss) and diluted earnings (loss) per share (&#8220;EPS&#8221;).&#160; These supplemental measures exclude share-based compensation expenses, impairment of long-lived assets and joint venture related costs.&#160; We believe that non-GAAP financial measures can provide useful information to both management and investors by excluding certain non-cash expenses that are not indicative of our core operating results.&#160; In addition, our management uses non-GAAP measures to compare our performance relative to forecasts and to benchmark our performance externally against competitors.&#160; Our use of non-GAAP financial measures has certain limitations in that the non-GAAP financial measures we use may not be directly comparable to those reported by other companies.&#160; For example, the term used in this press release, non-GAAP net income/(loss), does not have a standardized meaning.&#160; Other companies may use the same or similarly named measures, but exclude different items, which may not provide investors with a comparable view of our performance in relation to other companies.&#160; We seek to compensate for this limitation by providing a detailed reconciliation of the non-GAAP financial measures to the most directly comparable U.S. GAAP measures in the tables attached to this press release.&#160; Investors are encouraged to review the related U.S. GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable U.S. GAAP financial measures.</p>  <p><strong>About Alpha and Omega Semiconductor</strong><br>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 and Power IC products.&#160; AOS has developed extensive intellectual property and technical knowledge that encompasses the latest advancements in the power semiconductor industry, which enables it to introduce innovative products to address the increasingly complex power requirements of advanced electronics.&#160; 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.&#160; AOS's portfolio of products targets high-volume applications, including portable computers, flat panel TVs, LED lighting, smart phones, battery packs, consumer and industrial motor controls and power supplies for TVs, computers, servers and telecommunications equipment.&#160; For more information, please visit http://www.aosmd.com.&#160; For investor relations, please contact So-Yeon Jeong at investors@aosmd.com.</p>  <p>The following consolidated financial statements are prepared in accordance with U.S. GAAP.</p> <table style="border-collapse: collapse; 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">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(157</td><td style="vertical-align: bottom ; text-align: left ;  vertical-align: bottom; ">)</td></tr><tr><td style="vertical-align: bottom ; ">Loss before income taxes</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(44</td><td style="vertical-align: bottom ; text-align: left ;  vertical-align: bottom; ">)</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(596</td><td style="vertical-align: bottom ; text-align: left ;  vertical-align: bottom; ">)</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="border-top: solid black 1pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(3,407</td><td style="border-top: solid black 1pt ; vertical-align: bottom ; text-align: left ;  vertical-align: bottom; ">)</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="border-top: solid black 1pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(1,401</td><td style="border-top: solid black 1pt ; vertical-align: bottom ; text-align: left ;  vertical-align: bottom; ">)</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="border-top: solid black 1pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(2,012</td><td style="border-top: solid black 1pt ; vertical-align: bottom ; text-align: left ;  vertical-align: bottom; ">)</td></tr><tr><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; 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border-bottom: double black 3pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(1,611</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; text-align: left ;  vertical-align: bottom; ">)</td><td style="vertical-align: bottom ; ">&#160;</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td><td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(4,105</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; text-align: left ;  vertical-align: bottom; ">)</td><td style="vertical-align: bottom ; ">&#160;</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; ">$</td><td style="border-top: solid black 1pt ; border-bottom: double black 3pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(4,849</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; 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">(0.22</td><td style="vertical-align: bottom ; text-align: left ;  vertical-align: bottom; ">)</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">$</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(0.18</td><td style="vertical-align: bottom ; text-align: left ;  vertical-align: bottom; ">)</td></tr><tr><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom ; ">Weighted average number of common shares used to compute net loss per share:</td><td colspan="3" style="vertical-align: bottom ; 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vertical-align: bottom ; text-align: left ;  vertical-align: bottom; "><strong>)</strong></td><td style="vertical-align: bottom ; ">&#160;</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; "><strong>$</strong></td><td style="border-bottom: double black 3pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>(3,165</strong></td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; text-align: left ;  vertical-align: bottom; "><strong>)</strong></td><td style="vertical-align: bottom ; ">&#160;</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; "><strong>$</strong></td><td style="border-bottom: double black 3pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>(1,190</strong></td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; "><strong>)</strong></td><td style="vertical-align: bottom ; ">&#160;</td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; "><strong>$</strong></td><td style="border-bottom: double black 3pt ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>(1,519</strong></td><td style="border-bottom: double black 3pt ; vertical-align: bottom ; text-align: left ;  vertical-align: bottom; "><strong>)</strong></td></tr><tr><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom ; "><strong>Non-GAAP diluted net income (loss) per share</strong></td><td style="vertical-align: bottom ; 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"><strong>)</strong></td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; "><strong>$</strong></td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>(0.06</strong></td><td style="vertical-align: bottom ; "><strong>)</strong></td></tr><tr><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom ; ">Weighted-average number of common shares used in computing non-GAAP net income (loss) per share:</td><td colspan="3" style="vertical-align: bottom ; 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">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>26,447</strong></td><td style="vertical-align: top ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>22,400</strong></td><td style="vertical-align: top ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="2" style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; "><strong>26,469</strong></td><td style="vertical-align: top ; ">&#160;</td></tr></table> <p>&#160;<br></p></p><p>CONTACT:&#160;<br>Alpha&#160;and&#160;Omega&#160;Semiconductor&#160;Limited<br>Investor&#160;Relations<br>So-Yeon&#160;Jeong<br>408-789-3172<br>investors@aosmd.com</p></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>exh_992.htm
<DESCRIPTION>EXHIBIT 99.2
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<P STYLE="font-size: 10pt; text-align: right; text-indent: -1.25in; margin: 0pt 0 0pt 1.25in"><U>EXHIBIT 99.2</U></P>

<P STYLE="font-size: 10pt; text-align: right; text-indent: -1.25in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: -1.25in; margin: 0pt 0 0pt 1.25in"><U>Alpha and Omega Semiconductor
Limited</U></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: -1.25in; margin: 0pt 0 0pt 1.25in"><U>Prepared Remarks of Investor
Conference Call</U></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: -1.25in; margin: 0pt 0 0pt 1.25in"><U>for the Quarter Ended March 31,
2016</U></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: -1.25in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: -1.25in; margin: 0pt 0 0pt 1.25in"><U>May 4, 2016</U></P>

<P STYLE="font-size: 10pt; text-indent: -1.25in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -1.25in; margin: 0pt 0 0pt 1.25in"><U>So-Yeon Jeong (Moderator):</U></P>

<P STYLE="font-size: 10pt; text-indent: -1.25in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Good afternoon, everyone, and welcome to the Alpha and Omega Semiconductor&rsquo;s conference
call for fiscal 2016 third quarter financial results. This is So-Yeon Jeong, Investor Relations representative for the company.
With me today are Dr. Mike Chang, our CEO, and Yifan Liang, our CFO. This call is being recorded and broadcasted live over the
Web and can be accessed for seven days following the call via the link in the Investor Relations section of our website at www.aosmd.com.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-variant: small-caps; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
earnings release was distributed by globe newswire today, May 4, 2016, after the market closed. The release is also posted on the
company's website. Our earnings release and this presentation include certain non-GAAP financial measures. We use non-GAAP measures
because we believe they provide useful information about our operating performance that should be considered by investors in conjunction
with the GAAP measures that we provide. A reconciliation of these non-GAAP measures to comparable GAAP measures is included in
our earnings release.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We would like to remind you that during the course of this conference call, we will make
forward-looking statements, including discussions of business outlook and financial projections. These forward-looking statements
are based on management's current expectations and involve risks and uncertainties that could cause our actual results to differ
materially from such expectations. For a more detailed description of these risks and uncertainties, please refer to our recent
and subsequent filings with the SEC. We assume no obligations to update the information provided in today's call.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-variant: small-caps; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Now,
I&rsquo;ll turn the discussion over to Yifan, our CFO, to provide an overview of the third fiscal quarter financial results.</FONT></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-variant: small-caps; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

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<P STYLE="font-size: 10pt; text-indent: -1.25in; margin: 0pt 0 0pt 1.25in"><U>Yifan Liang (Chief Financial Officer):</U></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Thank you, So-Yeon. Good afternoon and thank you for joining us. To begin, I will discuss
financial results for the quarter. Then I&rsquo;ll turn the call over to Mike, our CEO, who will review the company&rsquo;s business
highlights and I will follow-up with our guidance for the next quarter. Finally, we&rsquo;ll reserve time for questions-and-answers.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Revenue for the March quarter was $83.0 million, an increase of 4.0% quarter over quarter
and an increase of 7.9% over the same quarter last year. Our new products continue to show growing momentum during our typical
lower season.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">In terms of product mix, MOSFET revenue was $63.5 million, up 6.9% quarter over quarter,
and up 7.2% over the same quarter last year. Power IC revenue was $16.3 million, down 0.9% quarter over quarter and up 18% over
the same quarter last year. Service revenue was $3 million, as compared to $4.0 million for the prior quarter and the same quarter
last year.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Next, I would like to provide the segment mix report. Before I do, I should
inform you that we have improved our segment tracking system during the quarter to better reflect our evolving business. This
change does not affect our overall revenue, gross margin, operating margin or net margin. In the past, we classified revenue
segment by customers based on the core business they are in. Our customers have diversified their business into new
applications, therefore, we enhanced our tracking system using both customers and part numbers based on product applications.
This more clearly delineates our revenue between the segments. To facilitate the quarter over quarter comparison, I will also
provide the December quarter&rsquo;s segment mix based on the new tracking system.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The March quarter&rsquo;s Computing segment represented 36.4% of the total revenue, Consumer
27.1%, Power Supply and Industrial 21.9%, Communications 10.5%, Service 3.9%, and others 0.2%. Under the new segment tracking system,
the December quarter&rsquo;s segment mix would be: Computing 36.5%, Consumer 26.0%, Power Supply and Industrial 21.5%, Communications
10.9%, and Service 5.1%.</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">Gross margin was 19.7% for the March quarter, as compared to 18.8% in the prior quarter
and 16.6% for the same quarter last year. The increase in gross margin quarter over quarter was mainly driven by the new product
contribution and higher factory utilization.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Operating expenses for the quarter were $16.4 million, compared to $15.6
million for the prior quarter and $16.1 million for the same quarter last year. The higher operating expenses quarter over
quarter were primarily due to the higher R&amp;D expenses. Also, the December quarter&rsquo;s operating expenses were lower
than normal due to the office shutdown and more vacation taken by employees during the December quarter holiday season.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Income tax expense was $1.2 million for the quarter, compared to $1.0 million for the
prior quarter and $0.7 million for the same quarter last year.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Net loss for the quarter was approximately $1.3 million or 6 cents loss per share,
as compared to 7 cents loss per share for the prior quarter and 16 cents loss per share for the same quarter last year. Net
loss in the March quarter included $1.2 million share-based compensation charge as compared to $1.1 million in the prior
quarter and $0.9 million for the same quarter last year. It also included $0.2 million expenses related to our joint venture
agreement signed in the March quarter.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Non GAAP EPS was breakeven for the March quarter, compared to breakeven for the prior quarter and 12 cents loss per share for the same quarter last year.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Cash flow from operations was $2.0 million for the March quarter, compared to $16.8 million
for the prior quarter and $3.0 million for the same quarter last year.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">EBITDAS for the March quarter was $8.1 million compared to $7.8 million for the prior
quarter and $4.3 million for the same quarter last year.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Moving on to the balance sheet.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We completed the March quarter with cash and cash equivalents balance of $78.9 million,
as compared to $81.9 million at the end of last quarter and $112.9 million a year ago. During the quarter, we repurchased approximately
0.2 million shares for a total amount of $1.8 million.</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">Net trade receivables were $32.0 million, as compared to $26.1 million at the end of
last quarter and $31.1 million for the same quarter last year. Day Sales Outstanding for the quarter was 39 days compared to 36
days in the prior quarter.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Net inventory was $67.9 million at the quarter-end, up from $61.1 million for last quarter
and from $66.3 million for the prior year. Average days in inventory were 87 days for the quarter compared to 85 days in the prior
quarter.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Net Property, Plant and Equipment balance was $112.5 million, as compared to $112.1 million
last quarter and $115.8 million for the prior year. Capital expenditures were $3.2 million for the quarter. Our expectation for
FY2016 capital expenditure is around $20 million.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">On March 29, 2016 we executed a definitive agreement with two strategic investment
funds owned by the authority of Chongqing, China to form a joint venture for a new power semiconductor packaging/testing and
wafer fabrication facility in Chongqing. We own 51% and the Chongqing funds own 49% of the equity interest of the joint
venture. The financial results of the joint venture are expected to be consolidated with the company&rsquo;s financial
statements. The first phase of the construction, which is for packaging, is expected to complete in the second half of 2017.
Then, we will gradually relocate assembly and test equipment that we contributed from our Shanghai facility, while
establishing our Shanghai facility as a center of supply chain management, technology development, and high-value product manufacturing.
The second phase of the construction for the 12&rdquo; fab is expected to start later, depending on the conditions and
various business factors. We expect the joint venture to provide significant cost savings for us as well as drive
meaningful improvements in working capital and capital expenditures.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">With that, now I would like to turn the call over to our CEO, Dr. Mike Chang, who will
provide the business highlights for the quarter.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -1.25in; margin: 0pt 0 0pt 1.25in"><U>Mike Chang (Chief Executive Officer):</U></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Thank you, Yifan!</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">AOS delivered strong execution in the March quarter. The revenue came in at the high
end of our guidance range and the gross margin and the bottom line exceeded the stated expectations. Our diversified product portfolio
enabled us to deliver solid and stable performance amid the prevailing challenges in the PC market, resulting in counter-seasonal
growth.</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">AOS is off to a good start in the final phase of the recovery plan with
unwavering focus on accelerating diversification and returning to profitability. In the past few quarters, we successfully secured
critical design ins and wins in multiple key accounts with our differentiated new products. The business pipeline continues to
grow, which sets the stage for meaningful expansion of revenue opportunities. Along with the revenue growth, we expect to achieve
profitability derived from the leverage in AOS business model.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Concurrently, we are creating new competitive advantages for sustainable long-term growth
beyond recovery. As an example, we reached an important milestone in our strategic roadmap by forming a joint venture with Chonqing.
The joint venture is designed to bring together the technological and operational capability of AOS in power semiconductor with
the capital resources and regional infrastructure support of the Chongqing authority. We are excited about the prospect of further
diversifying the product offerings and improving our access to customers in China where our business is growing.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; color: #7F7F7F">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Now turning to our business segments review, as Yifan mentioned earlier, we made some
improvement to the segment tracking system to better reflect our evolving business.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">First, Computing segment: It represented 36.4% of the total revenue, and was up 3.6%
quarter over quarter against the sharp decline in PC demand in the March quarter. AOS is well positioned to capture the momentum
in the forthcoming Skylake ramp and we continue to expand our market share and BOM content. We expect to maintain, if not improve,
our established PC position against weak PC market.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; color: #7F7F7F">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Second, Consumer segment: The revenue marked 27.1% of the total. It increased by 8.5%
sequentially. The growth was attributable mainly to the sizable product ramp with major TV customers for their high-end TVs. The
leading OEMs with whom we have been strongly positioned are aggressively ramping up their high-end TV production, and AOS is successfully
supporting their needs with highly efficient products and relentless dedication. We continue to strive to replicate the success
with more customers in the consumer segment.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; color: #7F7F7F">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; color: #7F7F7F">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; color: #7F7F7F">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Third, Power Supply and Industrial segment: It was 21.9% of the total revenue. Our Power
Supply and Industrial business turned in its fourth consecutive quarter of sequential growth, posting 6% increase in revenue during
the March quarter. The business traction from new products for quick charger applications remains intact. In addition, we saw
some incremental revenue across various industrial applications. We are encouraged by the prospects and progress we are making
in this business segment.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; color: #7F7F7F">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Finally, Communications segment: The revenue was 10.5% of the total, and was up 0.5%
sequentially despite the low seasonality. We are steadily growing our footprint in key smartphone applications such as battery
management accounts, paving the way for the ramp in the June quarter. We believe that our products provide a compelling advantage
and are gaining traction. Even though this segment represents a relatively small business today, it has the potential to become
an important contributor to revenues and earnings in the future. We expect this incremental new business to continue to contribute
to our growth.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">In summary, we are making good progress in diversifying our business and creating new
competitive edge for long-term success. I am pleased that the improved operating performance for the March quarter is evidence
that our growth strategies and executions are beginning to bear fruit.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Looking ahead, we expect to continue to create healthy demand by introducing differentiated
products and by expanding the customer penetration. While our recovery is still tender, we remain keenly focused on driving a more
solid turnaround with full strength to achieve revenue growth and profitability.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><U>Yifan Liang: Guidance for the next quarter </U></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">As we look forward to the fourth quarter of fiscal year 2016, we expect:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Our June quarter&rsquo;s revenue to be in the range of $87 million to $91 million.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>GAAP gross margin is expected to be approximately 20.0% plus or minus 1%.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>GAAP operating expenses are expected to be in the range of $15.8 million to $17.8 million.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Tax expenses are expected to be about $1.0 million to $1.2 million.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Our share-based compensation should range from $1.1 million to $1.3 million.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">As per our regular practice, we are not assuming any obligations to update this information.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">With that, we will open up the floor for questioning.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Closing:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">This concludes our earnings call today. Thank you for your interest in AOS and we look
forward to talking to you again next quarter.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><I>Forward Looking Statements</I></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><I>This script contains forward-looking statements that are based on current expectations,
estimates, forecasts and projections of future performance based on management's judgment, beliefs, current trends, and anticipated
product performance. These forward looking statements include, without limitation, statements relating to projected amount of revenues,
gross margin, operating expenses, operating income/(loss), tax expenses, net income/(loss), and share-based compensation expenses,
statements regarding market segments; expectation with respect to improvement in profit, our recovery progress and competitive
position; the progress, outlook and commencement of operation of our joint venture with Chongqing funds; our ability and strategy
to develop new products, expand our sales, revenue and profitability, growth in revenue and market share, including adoption of
low-voltage and power IC products and ramp up of Skylake platform; seasonality fluctuation in customer demand; the execution of
our business plan, and other information regarding the future development of our business. Forward looking statements involve risks
and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. These
factors include, but are not limited to, the decline of the PC industry and our ability to respond to such decline, our ability
to introduce or develop new and enhanced products that achieve market acceptance, the actual product performance in volume production,
the quality and reliability of our product, our ability to achieve design wins, the general business and economic conditions, the
state of semiconductor industry and seasonality of our markets, our ability to maintain factory utilization at a desirable level,
our ability to execute the joint venture successfully, and other risks as described in our SEC filings, including our Annual Report
on Form 10-K for the fiscal year ended June 30, 2015 filed on August 27, 2015 and the Quarterly Reports on Form 10-Q. Other unknown
or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially
from those in the forward-looking statements. Although we believe that the expectations reflected in the forward looking statements
are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not place undue
reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise
stated, and AOS undertakes no duty to update such information, except as required under applicable law.</I></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><I>&nbsp;</I></P>

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