Allegro MicroSystems Q4 Results Top Estimates; Stock Down 11% On Weak Outlook
(RTTNews) - Allegro MicroSystems, Inc. (ALGM) on Thursday reported a net loss attributable to the company of $7.12 million or $0.04 per share, compared to net income of $61.98 million or $0.32 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $0.25 per share, compared to $0.37 per share in the year-ago quarter.
On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $0.21 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter decreased to $240.58 million from $269.45 million in the same quarter last year. Analysts expected net sales of $234.93 million for the quarter.
Looking ahead to the first quarter of fiscal 2025, the company expects earnings in a range of $0.01 to $0.03 per share on net sales between $160 million and $170 million. The Street is looking for earnings of $0.17 per share on net sales of $214.33 million for the quarter.
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