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Mar 26, 2021
Allegro MicroSystems Q4 2021 Earnings Report
Allegro MicroSystems reported record revenue and accelerating profits in the fourth quarter, driven by market share gain and end market recovery.
Key Takeaways
Allegro MicroSystems reported record fourth-quarter total net sales of $175.1 million, exceeding expectations and resulting in fiscal year total net sales of $591.2 million. Profitability also exceeded expectations, with improvements in both gross margin and operating income, leading to significant earnings per share growth on both a GAAP and non-GAAP basis sequentially.
Total net sales of $175.1 million was up 6.5% sequentially and on a non-GAAP basis, core end markets grew 22.3% from the same period in fiscal 2020.
Automotive and Industrial net sales for the quarter grew 12.3% and 30.7%, respectively, from the same period in fiscal 2020.
Gross margin on a GAAP basis was 49.7% and 50.9% on a Non-GAAP basis.
GAAP earnings per diluted share was $0.05 up $0.09 sequentially. Non-GAAP earnings per diluted share was $0.15, up $0.02, growing 15.4% sequentially.
Revenue by Segment
Forward Guidance
For the first fiscal quarter ending June 25, 2021, the Company expects total net sales to be in the range of $176 million to $179 million. Non-GAAP gross margin is expected to be about 51.0% and non-GAAP earnings per fully-diluted share for the same period is expected to be in the range of $0.15 to $0.17.
Positive Outlook
- Total net sales expected to be in the range of $176 million to $179 million.
- Non-GAAP gross margin is expected to be about 51.0%.
- Non-GAAP earnings per fully-diluted share is expected to be in the range of $0.15 to $0.17.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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