| 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 (Loss) Profit before Tax | ||||||||||||||||||||
| GAAP (Loss) Profit before Tax | $ | (35,583 | ) | $ | 11,700 | $ | 10,500 | $ | (18,501 | ) | $ | 35,486 | ||||||||
| Non-core (gain) loss on sale of equipment | (7 | ) | 331 | 532 | 286 | 1,091 | ||||||||||||||
| Miscellaneous legal judgment charge | 574 | — | — | 574 | — | |||||||||||||||
| Loss on debt extinguishment | 9,055 | — | — | 9,055 | — | |||||||||||||||
| Foreign currency transaction loss (gain) | 145 | 1,318 | 560 | 1,331 | (2,800 | ) | ||||||||||||||
| Income in earnings of equity investment | (949 | ) | (246 | ) | — | (1,407 | ) | — | ||||||||||||
| PSL and Sanken Distribution Agreement | 1,500 | 2,815 | — | 7,698 | — | |||||||||||||||
| Stock-based compensation | 45,876 | 580 | 303 | 46,901 | 1,051 | |||||||||||||||
| Interest on repaid portion of Term Loan Facility | 2,163 | — | — | 2,163 | — | |||||||||||||||
| 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 | $ | 62,912 | $ | 9,020 | $ | 4,184 | $ | 81,537 | $ | 6,276 | ||||||||||
| Non-GAAP Profit before Tax* | $ | 27,329 | $ | 20,720 | $ | 14,684 | $ | 63,036 | $ | 41,762 | ||||||||||
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Allegro MicroSystems Announces Results for the Third Fiscal Quarter Ended December 25, 2020
* Adjusted EBITDA and the corresponding calculation of Adjusted EBITDA Margin do not include adjustments for the following components of our net income: (i) additional AMTC related costs of $1,217, $2,661, 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 $7,276 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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