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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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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