Allegro MicroSystems, Inc.

Good day and thank you for standing by and welcome to the Allegra Microsystems Q1 Fiscal 2022 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. If you require any further assistance, please press star 0. I would now like to hand the conference over to your speaker today, Ms. Katie Bly, Senior Director of Investor Relations. Please go ahead.

Good morning, and thank you for joining us today for Allegro's first quarter results for fiscal year 2022. I'm joined today by Allegro's President and Chief Executive Officer, Robbie Vig, and Allegro's Chief Financial Officer, Paul Walsh. We'll review our quarterly financial performance and provide a summary of our outlooks. Our earnings relief and the accompanying financial tables are available on the Investor Relations page of our website. This call is being webcasted and a recording will be available on our IR page shortly. Please note that comments made during this conference call include forward-looking statements within the meaning of Federal Security Clause. These forward-looking statements include projections and other statements about future events that are based on current expectations and assumptions, and as a result, are subject to risks and uncertainties that could cause actual results to vary materially from our projections. Please refer to the earnings press release we issued today and other documents filed by us with the SEC, including the risk factors discussed in detail in our most recent 10-K filed on May 19, 2021. The company assumes no obligation to update any forward-looking information presented. The non-GAAP financial measures that are discussed today are not intended to replace or be a substitute for the presentation of Allegro's GAAP financial results and may be calculated differently than similar measures used by other companies. We're providing this supplemental information because it may enable investors to make meaningful comparisons of core operating results and more clearly highlight the results of our core ongoing operations. A reconciliation of GAAP and non-GAAP financial measures referenced during today's call can be found in our earnings draft release, which is going to post it to our IR page. I'll now turn the call over to Allegra's President and CEO, Ravi Dev. Ravi?

Thank you, Katie, and good morning, everyone. Our FQ1 results were outstanding, exceeding our expectations. With strong execution, we achieved the highest quarterly revenue level in our history for our core end markets and the strongest gross margin result to go with it, both on a dollar and percentage basis. We also saw significant growth in EPS, beating our expectations. Automotive and industrial both reached record levels, record revenue levels, demonstrating strength across our increasingly diversified business. And we achieved record revenue for both magnetic sensors and power ICs, reflecting increased content in our target applications. Our demand continues to be strong as a result of accelerating design wins, and our near-term projections will be supply limited. We expect supply constraints to loosen in the second half of our fiscal year as additional wafer capacity comes online, and we anticipate continued growth in the second half. In addition to the benefit of the near-term recovery on our business, remarkable design wind momentum gives us confidence in our long-term growth trajectory. We believe strong demand for our differentiated technology across growing markets puts us in the best position ever to deliver on profitable, sustained, outsized growth. Before I go into more detail on the business and our outlook, I'll turn the call over to Paul for color on the financials.