The following table summarizes total net sales by market within the Company’s unaudited consolidated statements of operations:
| Three-Month Period Ended | Change | |||||||||||||||
| June 28, 2024 | June 30, 2023 | Amount | % | |||||||||||||
| (Dollars in thousands) | ||||||||||||||||
| Automotive | $ | 131,184 | $ | 185,430 | $ | (54,246 | ) | (29 | )% | |||||||
| Industrial and other | 35,735 | 92,863 | (57,128 | ) | (62 | )% | ||||||||||
| Total net sales | $ | 166,919 | $ | 278,293 | $ | (111,374 | ) | (40 | )% | |||||||
|
ALLEGRO MICROSYSTEMS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) | ||||||||
| June 28, | March 29, | |||||||
|
2024
(Unaudited) | 2024 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 173,136 | $ | 212,143 | ||||
| Restricted cash | 11,041 | 10,018 | ||||||
| Trade accounts receivable, net | 63,358 | 118,508 | ||||||
| Accounts receivable due from related party | 39 | 207 | ||||||
| Inventories | 175,901 | 162,302 | ||||||
| Prepaid income taxes | 29,411 | 31,908 | ||||||
| Prepaid expenses and other current assets | 33,647 | 33,377 | ||||||
| Current portion of related party notes receivable | 3,750 | 3,750 | ||||||
| Total current assets | 490,283 | 572,213 | ||||||
| Property, plant and equipment, net | 319,763 | 321,175 | ||||||
| Deferred income tax assets | 59,589 | 54,496 | ||||||
| Goodwill | 202,292 | 202,425 | ||||||
| Intangible assets, net | 271,723 | 276,854 | ||||||
| Related party notes receivable, less current portion | 3,750 | 4,688 | ||||||
| Equity investment in related party | 26,270 | 26,727 | ||||||
| Other assets | 75,220 | 72,025 | ||||||
| Total assets | $ | 1,448,890 | $ | 1,530,603 | ||||
| Liabilities, Non-Controlling Interests and Stockholders’ Equity | ||||||||
| Current liabilities: | ||||||||
| Trade accounts payable | $ | 35,346 | $ | 35,964 | ||||
| Amounts due to related party | 4,895 | 1,626 | ||||||
| Accrued expenses and other current liabilities | 63,885 | 76,389 | ||||||
| Current portion of long-term debt | 1,411 | 3,929 | ||||||
| Total current liabilities | 105,537 | 117,908 | ||||||
| Long-term debt | 202,589 | 249,611 | ||||||
| Other long-term liabilities | 30,922 | 31,368 | ||||||
| Total liabilities | 339,048 | 398,887 | ||||||
| Commitments and contingencies | ||||||||
| Stockholders’ Equity: | ||||||||
| Preferred stock | — | — | ||||||
| Common stock | 1,938 | 1,932 | ||||||
| Additional paid-in capital | 693,253 | 694,332 | ||||||
| Retained earnings | 445,337 | 463,012 | ||||||
| Accumulated other comprehensive loss | (31,946 | ) | (28,841 | ) | ||||
| Equity attributable to Allegro MicroSystems, Inc. | 1,108,582 | 1,130,435 | ||||||
| Non-controlling interests | 1,260 | 1,281 | ||||||
| Total stockholders’ equity | 1,109,842 | 1,131,716 | ||||||
| Total liabilities, non-controlling interests and stockholders’ equity | $ | 1,448,890 | $ | 1,530,603 | ||||
