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Sep 25, 2020
Allegro MicroSystems Q2 2021 Earnings Report
Announced results for the second fiscal quarter ended September 25, 2020, demonstrating strong growth and solid operating results.
Key Takeaways
Allegro MicroSystems reported total net sales of $136.6 million for the three-month period ended September 25, 2020, an increase of 18.8% from the prior quarter. The company saw a rebound in key markets like automotive and industrial and completed the acquisition of Voxtel.
Total net sales for the three-month period ended September 25, 2020 was $136.6 million, an increase of 18.8% from the prior quarter.
Automotive revenue was up 17.2% sequentially during the second quarter driven by global auto production growth and also strength in the Company’s xEV business, which nearly doubled from the three-month period ended September 27, 2019.
The Company completed its strategic acquisition of Voxtel, a privately held company specializing in advanced photonics and 3D imaging technology including components for long-range, eye-safe Light Detection and Ranging (LiDAR).
Industrial revenue in the second quarter was up 19.7% year-over-year compared to the same prior year fiscal period and 6.1% sequentially due to continued strength in demand for the Company’s three-phase drivers in data centers.
Allegro MicroSystems
Allegro MicroSystems
Allegro MicroSystems Revenue by Segment
Revenue by Segment
Automotive Revenue
CapyFin.com Forward Guidance
For the third fiscal quarter ending December 25, 2020, the Company expects total net sales to be in the range of $147 million to $151 million, with both the Automotive and Industrial businesses growing from the second fiscal quarter. Non-GAAP gross margin is expected to be in the range of 50% - 51%, and non-GAAP earnings per fully-diluted share for the same period is expected to be in the range of $0.11 to $0.12.
Positive Outlook
- Total net sales expected to be in the range of $147 million to $151 million.
- Automotive business expected to grow from the second fiscal quarter.
- Industrial businesses growing from the second fiscal quarter.
- Non-GAAP gross margin is expected to be in the range of 50% - 51%.
- Non-GAAP earnings per fully-diluted share for the same period is expected to be in the range of $0.11 to $0.12.