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 (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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