Allegro MicroSystems Reports Second Quarter of Fiscal Year 2022

Allegro MicroSystems Reports Second Quarter of Fiscal Year 2022 Results

ALLEGRO MICROSYSTEMS, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share amounts)

	September 24, 2021 (Unaudited)			March 26, 2021
Assets
Current assets:
Cash and cash equivalents	$	248,579		$	197,214
Restricted cash	7,105			6,661
Trade accounts receivable, net of provision for expected credit losses of $176 at September 24, 2021 and allowance for doubtful accounts of $138 at March 26, 2021	73,971			69,500
Trade and other accounts receivable due from related party	23,853			23,832
Accounts receivable - other	1,295			1,516
Inventories	78,042			87,498
Prepaid expenses and other current assets	13,069			18,374
Assets held for sale	—			25,969
Total current assets	445,914			430,564
Property, plant and equipment, net	198,069			192,393
Operating lease right-of-use assets	17,054			—
Deferred income tax assets	20,134			26,972
Goodwill	20,093			20,106
Intangible assets, net	36,131			36,366
Equity investment in related party	27,169			26,664
Other assets, net	38,687			14,613
Total assets	$	803,251		$	747,678
Liabilities, Non-Controlling Interest and Stockholders' Equity
Current liabilities:
Trade accounts payable	$	29,158		$	35,389
Amounts due to related party	3,686			2,353
Accrued expenses and other current liabilities	52,049			78,932
Current portion of operating lease liabilities	3,523			—
Total current liabilities	88,416			116,674
Obligations due under Senior Secured Credit Facilities	25,000			25,000
Operating lease liabilities, less current portion	13,793			—
Other long-term liabilities	19,489			19,133
Total liabilities	146,698			160,807
Commitments and contingencies
Stockholders' Equity:
Preferred Stock, $0.01 par value; 20,000,000 shares authorized, no shares issued or outstanding at September 24, 2021 and March 26, 2021	—			—
Common stock, $0.01 par value; 1,000,000,000 shares authorized, 189,702,550 shares issued and outstanding at September 24, 2021; 1,000,000,000 shares authorized, 189,588,161 issued and outstanding at March 26, 2021	1,897			1,896
Additional paid-in capital	604,488			592,170
Retained earnings	64,406			3,551
Accumulated other comprehensive loss	(15,368		)	(11,865		)
Equity attributable to Allegro MicroSystems, Inc.	655,423			585,752
Non-controlling interests	1,130			1,119
Total stockholders' equity	656,553			586,871
Total liabilities, non-controlling interest and stockholders' equity	$	803,251		$	747,678

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