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Mar 31, 2023
Allegro MicroSystems Q4 2023 Earnings Report
Allegro MicroSystems' Q4 2023 sales increased by 35% and GAAP EPS increased by 138% year-over-year.
Key Takeaways
Allegro MicroSystems reported a strong finish to fiscal year 2023, with record fourth quarter sales of $269 million, up 35% year-over-year and record non-GAAP diluted earnings per share of $0.37, an increase of more than 75% year-over-year.
Delivered record fourth quarter sales of $269 million, up 35% year-over-year.
Achieved record non-GAAP diluted earnings per share of $0.37, an increase of more than 75% year-over-year.
Saw significantly increased design win momentum in fiscal year 2023 with approximately two-thirds of wins coming from strategic growth areas including e-Mobility and Industrial.
E-Mobility increased to 43% of fiscal year 2023 Automotive sales, up from 36% in fiscal year 2022.
Revenue by Segment
Forward Guidance
For the first quarter ending June 30, 2023, the Company expects total sales to be in the range of $270 million to $280 million. The company also estimates the following results on a non-GAAP basis: •Gross margin is expected to be approximately 56% •Operating expenses are anticipated to be between 26% and 27% of sales •Earnings per diluted share are expected to be in the range of $0.35 to $0.39
Positive Outlook
- Total sales to be in the range of $270 million to $280 million.
- Gross margin is expected to be approximately 56%
- Earnings per diluted share are expected to be in the range of $0.35 to $0.39
- Operating expenses are anticipated to be between 26% and 27% of sales
- No reconciliation of its first fiscal quarter outlook for non-GAAP gross margin, non-GAAP operating expenses and non-GAAP earnings per diluted share was provided
Challenges Ahead
- Estimates of all of the reconciling items cannot be provided without unreasonable efforts.
- It is difficult to reasonably provide a forward-looking estimate between such forward-looking non-GAAP measures and the comparable forward-looking GAAP measures.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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