Reports Q1 revenue $167M, consensus $165.38M. “We delivered results toward the higher end of our commitments while making progress on inventory rebalancing across the Automotive and Industrial markets. First quarter sales were $167 million, above the midpoint of our outlook, and non-GAAP EPS was $0.03, at the high end of our outlook,” said Vineet Nargolwala, President and CEO of Allegro. “In addition, we continue to expect a return to low double-digit sequential sales growth in the second quarter. “The recently announced share repurchase and retirement represent an important milestone in Allegro’s journey as a public company. We believe that broader ownership, increased liquidity and improved governance will act as a catalyst for further value creation.”
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