Allegro Microsystems sees record revenue in first post-IPO report
Third quarter sales up 20% from a year earlier
February 4, 2021
Allegro Microsystems CEO Ravi Vig, shown here at the celebration of the firm’s initial offering on the Nasdaq in October, sees ‘further confidence in the longevity’ of the Manchester-based company’s current revenue picture.
In its first quarter as a publicly traded company, Allegro MicroSystems reported record revenue, exceeding the company’s expectations.
The Manchester-based maker of integrated sensors and power circuits, reported third-quarter revenue of $164.4 million for the three-month period ending Dec. 25, up 20% from the prior quarter.
The firm attributed half of that growth to the economic rebound of the automotive industry.