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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.
Photronics
Photronics
Photronics Revenue by Segment
Revenue by Segment
IC Revenue
CapyFin.comFPD Revenue
CapyFin.com 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