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Jan 29, 2023
Photronics Q1 2023 Earnings Report
Photronics reported first quarter fiscal year 2023 results with sequential revenue growth driven by IC and FPD businesses.
Key Takeaways
Photronics' first quarter 2023 saw revenue increase sequentially, driven by high-end demand in both IC and FPD sectors. IC growth was fueled by Asian foundries, while FPD benefited from G10.5+ demand and mobile display strength. Profit margins were softer due to mix and lower customer premiums.
Revenue reached $211.1 million, up 0.4% sequentially and 11% year-over-year.
GAAP net income was $14.0 million ($0.23 per diluted share), compared to $23.1 million ($0.38 per diluted share) in the first quarter 2022.
Non-GAAP net income was $24.4 million ($0.40 per diluted share), compared to $19.2 million ($0.32 per diluted share) in the first quarter 2022.
Cash generated from operating activities was $28 million.
Revenue by Segment
Forward Guidance
For the second quarter of 2023, Photronics expects revenue to be between $205 million and $215 million and net income attributable to Photronics, Inc. shareholders to be between $0.38 and $0.48 per diluted share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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