The shares of the US-based photomasks producer Photronics (PLAB.US) surges 20% after the company published higher than expected fiscal Q4 results, smashing Wall Street analysts expectations.
- CEO of the company, Frank Lee commented results positively, as the company achieved sequential revenue growth in the fiscal quarter, with increased sales QoQ in both Integrated Circuits (IC) and Flat Panel Displays (FPD).
- According to Lee's remarks, IC growth was driven by strong high-end sales, particularly in the US, while FPD was led by mainstream demand. According to the company photomask, demand trends are favourable and probably will continue into 2025, driven by megatrends: AI, supply chain regionalization, and edge computing.
FY 2024
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Open account Try demo Download mobile app Download mobile app- Revenue came in $866.9 million, down only 3% YoY; net income (GAAP) came in $130.7 million, or $2.09 per share, compared with $125.5 million, or $2.03 per diluted share in 2023.
- IC revenue was $638.1 million, down 2% YoY with FPD revenue at $228.8 million, down 5% YoY
- Cash generated from operating activities was $261.4 million, with cash invested in organic growth through capital expenditures at $130.9 million.
Fiscal Q4 2024
- Revenue came in $222.6 million, down 2% year-over-year but up 6% sequentially. GAAP net income came in at $33.9 million, and $0.54 per share, compared with $44.6 million and $0.72 per share in the fourth quarter of 2023 and $34.4 million, or $0.55 per diluted share in the previous quarter of 2024.
- IC revenue was $163.7 million, down 1% year-over-year but up 5% sequentially with FPD revenue at $58.9 million, down 7% YoY but up 7% sequentially.
Photronics (PLAB.US) cash and short-term investments at the end of the quarter were $640.7 million, with a debt pile at $18.0 million. For the fiscal Q1 2025, Photronics expects revenues between $208 million and $216 million with Non-GAAP net income attributable to shareholders between $0.43 and $0.49 per diluted share. Today, the company shares are surging above EMA200, EMA100 and EMA50 signalling coming back to the uptrend.
Source: xStation5
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