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Photronics
🇺🇸 NASDAQ:PLAB
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Jul 28, 2024

Photronics Q3 2024 Earnings Report

Photronics reported a decrease in revenue and mixed results in net income and EPS compared to the previous year, with IC revenue declining slightly and FPD revenue experiencing a more significant drop.

Key Takeaways

Photronics reported Q3 fiscal year 2024 results with a revenue of $211.0 million, a decrease of 6% year-over-year. GAAP net income was $34.4 million, or $0.55 per diluted share, while non-GAAP net income was $32.0 million, or $0.51 per diluted share. The company's board authorized an increase in the share repurchase program.

Revenue decreased by 6% year-over-year to $211.0 million due to market softness.

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.

The board authorized increasing the share repurchase program up to $100 million.

Total Revenue
$211M
Previous year: $224M
-5.9%
EPS
$0.51
Previous year: $0.51
+0.0%
Gross Profit
$75.1M
Previous year: $86.8M
-13.4%
Cash and Equivalents
$606M
Previous year: $449M
+35.2%
Free Cash Flow
$50.7M
Previous year: $64.8M
-21.8%
Total Assets
$1.65B
Previous year: $1.5B
+9.4%

Photronics

Photronics

Photronics Revenue by Segment

Forward Guidance

For the fourth quarter of fiscal 2024, Photronics expects Revenue to be between $213 million and $221 million and non-GAAP Net income attributable to Photronics, Inc. shareholders to be between $0.48 and $0.54 per diluted share.

Positive Outlook

  • Revenue is expected to be between $213 million and $221 million.
  • Non-GAAP net income per share is expected to be between $0.48 and $0.54.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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