Company: AOSL
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001387467-25-000044
Chunk: 130

Company: ALPHA & OMEGA SEMICONDUCTOR Ltd
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 130
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 and U.S. Dollar on December 31, 2024) in the JV Company.  This transaction closed on January 15, 2025, at which time, the percentage of outstanding JV Company’s equity interest owned by the Company was reduced to approximately 39.2%.

During the three and nine months ended March 31, 2025, we recorded a $0.5 million of gain on the change of equity interest in the JV Company.

Income tax expense  

Three Months Ended March 31,Nine Months Ended March 31, 20252024Change20252024Change (in thousands)(in thousands)(in percentage)(in thousands)(in thousands)(in percentage)Income tax expense $660 $611 $49 8.0 %$2,942 $2,643 $299 11.3 %

The Company recognized income tax expense of approximately $0.7 million and $0.6 million for the three months ended March 31, 2025 and 2024, respectively.  The income tax expense of $0.7 million for the three months ended March 31, 2025 included a $0.1 million discrete tax expense. The income tax expense of $0.6 million for the three months ended March 31, 2024 included a $0.1 million discrete tax expense.  Excluding the discrete income tax items, the income tax expense for the three months ended March 31, 2025 and 2024 was $0.6 million and $0.6 million, respectively, and the effective tax rate for the three months ended March 31, 2025 and 2024 was (5.8)% and (5.3%), respectively.  The changes in the tax expense and effective tax rate between the periods resulted primarily from changes in the mix of earnings in various geographic jurisdictions between the current year and the same period of last year.

The Company recognized income tax expense of approximately $2.9 million and $2.6 million for the nine months ended March 31, 2025 and 2024, respectively. The income tax expense of $2.9 million for the nine months ended March 31, 2025 

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included a $0.2 million discrete tax expense. The income tax expense of $2.6 million for the nine months ended March 31, 2024 included a $0.2 million discrete tax expense. Excluding the discrete income tax items