All forward-looking statements speak only as of the date of this press release and, except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
ALLEGRO MICROSYSTEMS, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(in thousands, except share and per share amounts)
(Unaudited)
| Three-Month Period Ended | Six-Month Period Ended | ||||||||||||||
|
September 24,
2021 |
September 25,
2020 |
September 24,
2021 |
September 25,
2020 | ||||||||||||
| Net sales | $ | 156,445 | $ | 114,138 | $ | 309,134 | $ | 205,519 | |||||||
| Net sales to related party | 37,165 | 22,511 | 72,618 | 46,131 | |||||||||||
| Total net sales | 193,610 | 136,649 | 381,752 | 251,650 | |||||||||||
| Cost of goods sold | 91,078 | 74,879 | 185,060 | 134,179 | |||||||||||
| Gross profit | 102,532 | 61,770 | 196,692 | 117,471 | |||||||||||
| Operating expenses: | |||||||||||||||
| Research and development | 29,590 | 25,130 | 59,144 | 49,510 | |||||||||||
| Selling, general and administrative | 34,088 | 24,238 | 66,152 | 51,027 | |||||||||||
| Change in fair value of contingent consideration | 300 | — | 600 | — | |||||||||||
| Total operating expenses | 63,978 | 49,368 | 125,896 | 100,537 | |||||||||||
| Operating income | 38,554 | 12,402 | 70,796 | 16,934 | |||||||||||
| Other (expense) income: | |||||||||||||||
| Interest (expense) income, net | (1,150 | ) | 350 | (1,495 | ) | 663 | |||||||||
| Foreign currency transaction gain (loss) | 202 | (1,318 | ) | (52 | ) | (1,186 | ) | ||||||||
| Income in earnings of equity investment | 226 | 246 | 505 | 458 | |||||||||||
| Other, net | 1,534 | 20 | 1,582 | 213 | |||||||||||
| Income before income tax provision | 39,366 | 11,700 | 71,336 | 17,082 | |||||||||||
| Income tax provision | 6,143 | 2,082 | 10,406 | 2,610 | |||||||||||
| Net income | 33,223 | 9,618 | 60,930 | 14,472 | |||||||||||
| Net income attributable to non-controlling interests | 37 | 34 | 75 | 68 | |||||||||||
| Net income attributable to Allegro MicroSystems, Inc. | $ | 33,186 | $ | 9,584 | $ | 60,855 | $ | 14,404 | |||||||
| Net income attributable to Allegro MicroSystems, Inc. per share: | |||||||||||||||
| Basic | $ | 0.17 | $ | 0.96 | $ | 0.32 | $ | 1.44 | |||||||
| Diluted | $ | 0.17 | $ | 0.96 | $ | 0.32 | $ | 1.44 | |||||||
| Weighted average shares outstanding: | |||||||||||||||
| Basic | 189,673,788 | 10,000,000 | 189,629,535 | 10,000,000 | |||||||||||
| Diluted | 191,676,422 | 10,000,000 | 191,416,250 | 10,000,000 | |||||||||||
