Allegro MicroSystems (ALGM) shares were up over 6% Thursday after it reported fiscal Q1 non-GAAP earnings of $0.03, down from $0.39 a year earlier.
Analysts polled by Capital IQ expected $0.02.
Net sales for the quarter ended June 28 were $166.9 million compared with $278.3 million a year earlier.
Analysts polled by Capital IQ expected $165 million.
The company said it expects fiscal Q2 non-GAAP EPS of $0.04 to $0.08 and $182 million to $192 million in net sales. Analysts polled by Capital IQ expect $0.08 in adjusted EPS on revenue of $186.3 million.
Price: 25.49, Change: +1.45, Percent Change: +6.03
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