Allegro MicroSystems, Inc. has recently released its 10-K report, detailing its financial performance and operations for the fiscal year ended March 29, 2024. The company, headquartered in Manchester, New Hampshire, is a leading global designer, developer, and marketer of sensor integrated circuits (ICs) and application-specific analog power ICs for the automotive and industrial markets. Allegro MicroSystems, Inc. operates on a 52* or 53-week fiscal year, with a global footprint across 29 locations on four continents. The company's portfolio includes over 1,000 products, and it ships more than 1.5 billion units annually to over 10,000 customers worldwide.
In fiscal years 2024 and 2023, Allegro MicroSystems, Inc. generated $1,049.4 million and $973.7 million in total net sales, respectively, with $152.9 million and $187.5 million in net income, respectively.
The 10-K report discusses the company's recent initiatives to improve its results of operations. Allegro MicroSystems, Inc. implemented several initiatives during fiscal years 2023 and 2024 designed to enhance operating results. The company focused on improving gross margin, leveraging fixed costs, and operating margin improvements. Additionally, the report highlights the acquisition of Heyday, the termination of the distribution agreement with Sanken, and the acquisition of Crocus Technology International Corp.
The report also outlines key factors and trends affecting the company's operating results. Factors such as inflation, design wins with new and existing customers, customer demand, orders, and forecasts, as well as manufacturing costs and product mix, are discussed in detail. The company acknowledges the impact of inflation on costs, the importance of design wins, and the significance of customer demand and orders on its operations.
Allegro MicroSystems, Inc.'s 10-K report provides a comprehensive overview of the company's financial performance, recent initiatives, and key factors influencing its operations, offering insights into its position in the market and its strategies for future growth and success. Today the company's shares have moved -0.9% to a price of $29.96. Check out the company's full 10-K submission here.
