Allegro MicroSystems Announces Results for the Third Fiscal Quarter Ended December 25, 2020

CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share amounts)

  December 25, 2020 (Unaudited)  March 27,
2020
Assets   
Current assets:   
Cash and cash equivalents$157,653  $214,491 
Restricted cash6,520  5,385 
Trade accounts receivable, net of allowances for doubtful accounts of $138 and $288 at December 25, 2020 and March 27, 2020, respectively67,334  59,457 
Trade and other accounts receivable due from related party20,153  30,851 
Accounts receivable - other1,373  1,796 
Inventories94,021  127,227 
Prepaid expenses and other current assets31,476  9,014 
Total current assets378,530  448,221 
Property, plant and equipment, net214,372  332,330 
Deferred income tax assets23,188  7,217 
Goodwill20,249  1,285 
Intangible assets, net36,420  19,958  
Equity investment in related party 26,657      
Other assets, net 12,482     8,810  
Total assets $ 711,898     $ 817,821  
Liabilities, Non-Controlling Interest and Stockholders' Equity      
Current liabilities:      
Trade accounts payable $ 20,262     $ 20,762  
Amounts due to related party 2,078     4,494  
Accrued expenses and other current liabilities 66,779     56,855  
Current portion of related party debt     25,000  
Bank lines-of-credit     43,000  
Total current liabilities 89,119     150,111  
Obligations due under Senior Secured Credit Facilities 25,000      
Related party notes payable, less current portion     17,700  
Other long-term liabilities 20,861     15,878  
Total liabilities 134,980     183,689  
Commitments and contingencies      
Stockholders' Equity:      
Preferred Stock, $0.01 par value; 20,000,000 shares authorized, no shares issued or outstanding at December 25, 2020 and March 27, 2020      
Common stock, $0.01 par value; 1,000,000,000 shares authorized, 189,431,726 shares issued and outstanding at December 25, 2020; no shares authorized, issued or outstanding at March 27, 2020 1,894      
Class A, $0.01 par value; No shares authorized, issued or outstanding at December 25, 2020; 12,500,000 shares authorized; 10,000,000 shares issued and outstanding at March 27, 2020     100  
Class L, $0.01 par value; No shares authorized, issued or outstanding at December 25, 2020; 1,000,000 shares authorized; 622,470 shares issued and outstanding at March 27, 2020     6  
Additional paid-in capital 589,202     458,697  
(Accumulated deficit) / retained earnings (5,094 )   194,355  
Accumulated other comprehensive loss (10,171 )   (19,976 )
Equity attributable to Allegro MicroSystems, Inc. 575,831     633,182  
Non-controlling interests 1,087     950  
Total stockholders' equity 576,918     634,132  
Total liabilities, non-controlling interest and stockholders' equity $ 711,898     $ 817,821  
               

ALLEGRO MICROSYSTEMS, INC.

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