Photronics Q4 2023 Earnings Report
Key Takeaways
Photronics reported an 8% year-over-year increase in both fourth quarter and full year revenue, with a 1% sequential increase in the fourth quarter. The growth was driven by strong demand for design-driven products in both IC and FPD segments. The company's operating margin was 28.5% for the quarter. Photronics' cash balance at the end of the quarter was $499.3 million.
Photronics delivered sixth consecutive year of record revenue with growth in Q4.
Q4 revenue increased 8% year-over-year and 1% sequentially.
GAAP net income was $44.6 million, or $0.72 per diluted share.
FPD revenue reached a record $63.0 million, up 17% year-over-year.
Photronics
Photronics
Photronics Revenue by Segment
Forward Guidance
For the first quarter of fiscal 2024, Photronics expects revenue to be between $217 million and $225 million and non-GAAP net income attributable to Photronics, Inc. shareholders to be between $0.45 and $0.53 per diluted share.
Positive Outlook
- Revenue to be between $217 million and $225 million.
Challenges Ahead
- Non-GAAP net income attributable to Photronics, Inc. shareholders to be between $0.45 and $0.53 per diluted share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income