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Alpha and Omega beats Street 2Q forecasts

SUNNYVALE, Calif. (AP) _ Alpha and Omega Semiconductor Ltd. (AOSL) on Wednesday reported fiscal second-quarter profit of $6.8 million.

On a per-share basis, the Sunnyvale, California-based company said it had profit of 27 cents. Earnings, adjusted for one-time gains and costs, came to 32 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The chipmaker posted revenue of $103.9 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $101.9 million.

For the current quarter ending in April, Alpha and Omega said it expects revenue in the range of $99 million to $103 million.

Alpha and Omega shares have declined almost 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.25, a drop of 26 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AOSL at https://www.zacks.com/ap/AOSL