Allegro MicroSystems, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended December 29, 2023
February 01, 2024 at 07:00 am EST
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Allegro MicroSystems, Inc. reported earnings results for the third quarter and nine months ended December 29, 2023. For the third quarter, the company reported sales was USD 254.98 million compared to USD 248.79 million a year ago. Net income was USD 33.35 million compared to USD 64.52 million a year ago. Basic earnings per share from continuing operations was USD 0.17 compared to USD 0.34 a year ago. Diluted earnings per share from continuing operations was USD 0.17 compared to USD 0.33 a year ago.
For the nine months, sales was USD 808.79 million compared to USD 704.21 million a year ago. Net income was USD 159.81 million compared to USD 125.38 million a year ago. Basic earnings per share from continuing operations was USD 0.83 compared to USD 0.66 a year ago. Diluted earnings per share from continuing operations was USD 0.82 compared to USD 0.65 a year ago.
Allegro MicroSystems, Inc. is a global designer, developer, fabless manufacturer, and marketer of sensor integrated circuits (ICs) and application-specific analog power ICs. The Company is a supplier of magnetic sensor IC solutions in the automotive market. Its sensor ICs enable its customers to precisely measure motion, speed, position and current, while its power ICs include high-temperature and high-voltage capable motor drivers, power management ICs, light-emitting diode driver ICs and isolated gate drivers. Its diverse product portfolio provides solutions for the electrification of vehicles, automotive advanced driver assistance systems (ADAS) safety features, automation for Industry 4.0 and power saving technologies for data centers and green energy applications. The Company, through its subsidiary, Crocus Technology, Inc. offers advanced Tunnel Magnetoresistance (TMR) sensor technology solutions to designers and manufacturers of industrial, automotive and consumer electronics.
ALLEGRO MICROSYSTEMS, INC. 
