Allegro Microsystems Inc (ALGM)
| Sector • Technology Industry • Semiconductors |
| Industry • Semiconductors |
| Sector • Technology |
Excellent result by Allegro Microsystems Inc all along the fourth quarter of 2023 earnings season
Allegro Microsystems Inc delivered fourth quarter of 2023 operating profit of $63.104 million
Published May 25 2023 / Modified May 25 2023
Goran Soko / CSIMarket.com Contributer
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Allegro Microsystems Inc.has announced positive earnings for the financial three months ending on March 31, 2023.
Allegro reported that revenue for the quarter came in at $233.36 million, a 16.51% YoY increase, and a 2.635% QoQ increase.
Additionally, the EPS (earnings per share) showed an impressive increase of 135.46% to $0.31, but sequentially decreased by -4.97%.
The semiconductor company's net earnings also showed remarkable growth, totaling $62.012 million in the financial fourth quarter of 2023, which marks an increase of 141.74% from the net earnings of $25.652 million reported in the fourth quarter of the previous year.
Allegro Microsystems Inc also highlighted its stronger profit margins, with net margin increasing to 26.57% in the fiscal fourth quarter of 2023, and operating margin climbing to 27.04%. However, operating earnings only improved by 108.62% to $63.104 million.
For the financial 12 months 2023, Allegro Microsystems Inc declared revenue of $894.47 million and net income of $187.49 million.
The company reported that EPS had soared by 56.45% to $0.97 per share from $0.62 in the preceding financial year, while revenue improved by 16.37% from $768.67 million.
Allegro Microsystems Inc is set to report its next financial earnings on July 31, 2023.
Overall, Allegro Microsystems Inc's financial results for the quarter and full year demonstrate impressive growth, in terms of revenue and net income.
Additionally, the company's improved profit margin is also encouraging for investors.
While the EPS sequentially decreased, a positive YoY trend was observed.
As such, it will be interesting to see how Allegro Microsystems Inc will continue to perform in subsequent quarters.