07:49 AM EDT, 05/09/2024 (MT Newswires) -- Allegro MicroSystems ( ALGM ) reported fiscal Q4 non-GAAP earnings Thursday of $0.25 per diluted share, down from $0.37 a year earlier.

Analysts polled by Capital IQ expected $0.21.

Total net sales for the fiscal quarter ended March 29 were $240.6 million, down from $269.4 million a year earlier.

Analysts surveyed by Capital IQ expected $235 million.

For fiscal Q1, the motion detector systems provider expects non-GAAP earnings of $0.01 to $0.03 per diluted share on net sales of $160 million to $170 million. Analysts polled by Capital IQ expect normalized earnings of $0.17 per share on revenue of $213.4 million.

Allegro MicroSystems ( ALGM ) sales were down by more than 9% in premarket trading

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