Three-Month Period Ended | Nine-Month Period Ended | |||||||||||||||||||
December 25,
2020 |
September 25,
2020 |
December 27,
2019 |
December 25,
2020 |
December 27,
2019 | ||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Reconciliation of Operating (Loss) Income | ||||||||||||||||||||
GAAP Operating (Loss) Income | $ | (24,224 | ) | $ | 12,402 | $ | 11,131 | $ | (7,290 | ) | $ | 33,923 | ||||||||
PSL and Sanken Distribution Agreement | 1,500 | 2,815 | — | 7,698 | — | |||||||||||||||
Stock-based compensation | 45,876 | 580 | 303 | 46,901 | 1,051 | |||||||||||||||
AMTC Facility consolidation one-time costs | 2,228 | 1,766 | — | 5,699 | — | |||||||||||||||
Amortization of acquisition-related intangible assets | 344 | 114 | — | 458 | — | |||||||||||||||
COVID-19 related expenses | 435 | 471 | — | 4,906 | — | |||||||||||||||
Transaction fees | 1,729 | 1,871 | 2,335 | 3,717 | 3,782 | |||||||||||||||
Severance | (181 | ) | — | 454 | 156 | 3,152 | ||||||||||||||
Total | $ | 51,931 | $ | 7,617 | $ | 3,092 | $ | 69,535 | $ | 7,985 | ||||||||||
Non-GAAP Operating Income* | $ | 27,707 | $ | 20,019 | $ | 14,223 | $ | 62,245 | $ | 41,908 | ||||||||||
Non-GAAP Operating Margin* (% of net sales) | 16.8 | % | 14.6 | % | 8.9 | % | 15.0 | % | 8.8 | % | ||||||||||
Allegro MicroSystems Announces Results for the Third Fiscal Quarter Ended December 25, 2020
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* Non-GAAP Operating Expenses do not include adjustments for the following components of our net income: (i) additional AMTC related costs of $19, $380, and $2,939 for the three months ended December 25, 2020, September 25, 2020, and December 27, 2019, respectively, and labor savings costs of $109, $—, and $1,072 for the three months ended December 25, 2020, September 25, 2020, and December 27, 2019, respectively, and (ii) additional AMTC related costs of $723 and $8,603 for the nine months ended December 25, 2020 and December 27, 2019, respectively, and labor savings costs of $218 and $5,884 for the nine months ended December 25, 2020 and December 27, 2019, respectively.
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