Allegro MicroSystems reported a company net loss of $7.12 million ($0.04 per share) on Thursday. This is in stark contrast to the same quarter in the previous year, which saw a net income of $61.98 million ($0.32 per share).
Upon consideration of certain items, the quarter's adjusted earnings stand at $0.25 per share, a drop from the $0.37 per share recorded the previous year. Eight analysts surveyed by Thomson Reuters had predicted the company would report earnings of $0.21 per share for the quarter, typically excluding unique items.
In comparison to the same quarter of the prior year, net sales dropped to $240.58 million from $269.45 million. However, this outperformed analyst expectations of $234.93 million in net sales for the quarter.
Looking towards the first quarter of fiscal 2025, Allegro MicroSystems anticipates earnings between $0.01 and $0.03 per share, with net sales predicted to reach between $160 million and $170 million. This is lower than analyst predictions which forecast earnings of $0.17 per share and net sales amounting to $214.33 million.
