Welcome to our dedicated page for Photronics news (Ticker: PLAB), a resource for investors and traders seeking the latest updates and insights on Photronics stock.
Photronics Inc. (symbol: PLAB) is a leading industry player in the design, development, and production of reticles and photomasks for semiconductor and microelectronic applications. Established in Connecticut in 1969, the company has grown from its humble beginnings to become a publicly-held corporation in 1987 and now operates an extensive network of nine manufacturing facilities worldwide.
Photronics specializes in manufacturing photomasks, which are critical components in the production of integrated circuits and flat-panel displays. These photomasks are photographic quartz plates featuring microscopic images of electronic circuits. The core business of Photronics lies in the production of these photomasks, with a significant portion of the company's revenue coming from integrated circuits products, while the rest is derived from flat-panel display products.
The company's operations are strategically located across the globe, with significant assets in Taiwan, Korea, and the United States. Photronics generates revenue from various regions, including the United States, Europe, Taiwan, Korea, China, and other parts of Asia. Taiwan stands out as a major revenue contributor for the company.
Photronics continues to innovate and lead the market by maintaining robust partnerships, delivering cutting-edge products, and embarking on various projects to enhance its technological capabilities. The company's latest endeavors include forward-looking projects aimed at expanding its technological impact and market reach.
For the most recent updates and further information, you can reach out to John P. Jordan, the Executive Vice President & CFO, at jjordan@photronics.com.
Photronics (PLAB) has appointed David Garcia to its Board of Directors on December 12, 2024, expanding the board to nine members, with seven being independent. Garcia, a strategic advisor with approximately 30 years of legal experience at firms including Holland & Hart, Wilson Sonsini Goodrich & Rosati, and Venture Law Group, brings extensive expertise in mergers & acquisitions, venture capital financing, and securities offerings. His background includes counseling public and private companies on corporate governance and structuring technology-related transactions. Chairman Constantine Macricostas highlighted Garcia's experience as valuable for evaluating business development opportunities.
Photronics (Nasdaq: PLAB), a worldwide leader in photomask technologies and solutions, announced its participation in the 13th Annual NYC Summit investor conference. The event will take place on December 17, 2024, at Mastro's Steakhouse in New York City. The company's management team, including CFO Eric Rivera, CTO Christopher Progler, and IR Ted Moreau, will host small group investor meetings. The NYC Summit is an invitation-only event exclusively for accredited investors and publishing research analysts.
Photronics (NASDAQ:PLAB) reported its fiscal 2024 results, with annual revenue of $866.9 million, down 3% year-over-year. GAAP net income reached $130.7 million ($2.09 per diluted share), up from $125.5 million in 2023. Fourth quarter revenue was $222.6 million, showing a 6% sequential increase but 2% year-over-year decline.
The company's IC revenue totaled $638.1 million (down 2%) and FPD revenue was $228.8 million (down 5%) for the full year. Cash generation from operations was strong at $261.4 million, with $130.9 million invested in capital expenditures. The company maintains a strong financial position with $640.7 million in cash and short-term investments and only $18.0 million in debt.
For Q1 2025, Photronics expects revenue between $208-216 million with non-GAAP EPS of $0.43-0.49.
Photronics (Nasdaq: PLAB), a worldwide leader in photomask technologies, will announce its fourth quarter fiscal 2024 financial results on Wednesday, December 11, 2024, before market opens. The company will host a public conference call at 8:30 a.m. Eastern time, where management will address questions about financial performance, business conditions, and industry outlook. The call will be available live and on-demand through the Events and Presentations section of Photronics' website.
Photronics (Nasdaq:PLAB) has appointed Christopher J. Lutzo as Vice President, General Counsel and Corporate Secretary. Lutzo, who joins the company's executive leadership team, will oversee all legal functions, global operations support, corporate governance, compliance, and risk management programs. He brings over 15 years of experience in commercial, transactional, corporate, securities, and compliance practices. Prior to joining Photronics, Lutzo worked at Crane Company and holds a Juris Doctor from Quinnipiac University.
Photronics, Inc. (NASDAQ:PLAB) reported its Q3 fiscal 2024 results. Revenue decreased 6% year-over-year to $211.0 million. GAAP Net income was $34.4 million, or $0.55 per diluted share. Non-GAAP Net income was $32.0 million, or $0.51 per diluted share. IC revenue fell 4% to $155.9 million, while FPD revenue dropped 10% to $55.1 million. The company generated $75.1 million in operating cash flow and invested $24.4 million in capital expenditures. Photronics ended the quarter with $606.4 million in cash and short-term investments. The Board authorized an increase in the share repurchase program to $100 million. For Q4 fiscal 2024, the company expects revenue between $213 million and $221 million and non-GAAP EPS between $0.48 and $0.54.
Photronics (Nasdaq: PLAB), a global leader in photomask technologies, has announced it will release its third quarter fiscal 2024 financial results on Thursday, August 29, 2024, before the market opens. The company will host a public conference call at 8:30 a.m. Eastern time on the same day to discuss the results and respond to questions about financial performance, business conditions, and industry outlook.
Management may disclose previously unreleased information during the Q&A session. The call will be broadcast live and on-demand via the company's website. Analysts and investors can participate in the Q&A portion by registering through a provided link, preferably 15 minutes before the call's start time.
Photronics (NASDAQ: PLAB) has appointed Eric Rivera as its new chief financial officer (CFO), effective immediately. Rivera, who has been with the company since 2020 as chief accounting officer and interim CFO since February 2024, brings extensive financial expertise to his new role. CEO Frank Lee expressed confidence in Rivera's ability to contribute to the company's profitability and shareholder value. Rivera himself is optimistic about leveraging his experience to enhance the company's financial health and drive profitable growth.
Photronics (NASDAQ: PLAB) reported its Q2 FY2024 results on May 22, 2024, highlighting a stable revenue of $217.0 million, which is down 5% YoY but up 0.3% sequentially. The company faced headwinds due to temporary soft demand post-Chinese New Year and Taiwan earthquakes, impacting revenue by $3 million. GAAP net income was $36.3 million ($0.58 per diluted share), a decline from $39.9 million ($0.65 per diluted share) in Q2 2023.
Non-GAAP net income stood at $28.7 million ($0.46 per diluted share), down from $32.9 million ($0.54 per diluted share) YoY. IC revenue was $160.9 million, down 4% YoY, while FPD revenue decreased by 10% to $56.1 million. Cash generated from operations was $76.5 million, with $20 million invested in capital expenditures. The cash balance was $539.2 million.
For Q3 FY2024, Photronics expects revenue between $221 million and $229 million, with non-GAAP net income per diluted share ranging from $0.53 to $0.59.
Photronics, Inc. (PLAB) will report its second-quarter earnings for fiscal 2024 on May 22, 2024. The company will host a public conference call to discuss financial performance, business conditions, and industry outlook.
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