Photronics Reports $212.1M Revenue for Q1 2025

By Bobby Samwell • Wednesday, February 26 15:23 • Permanent Link

Photronics, Inc. (NASDAQ: PLAB) recently reported its financial results for the first quarter of fiscal year 2025, ending February 2, 2025. The company's CEO, Frank Lee, noted that top-line results were in line with expectations and reflective of seasonal demand patterns. The results revealed some interesting insights into the company's performance.

In terms of revenue, Photronics reported $212.1 million for the first quarter, which represented a 2% decrease year-over-year and a 5% decrease sequentially. Within this, the integrated circuits (IC) segment saw revenue of $154.0 million, down 2% year-over-year and 6% sequentially. Meanwhile, the flat panel display (FPD) segment reported revenue of $58.1 million, down 1% from the same quarter last year and 1% sequentially.

The GAAP net income attributable to Photronics, Inc. shareholders was $42.9 million, or $0.68 per diluted share, compared with $26.2 million, or $0.42 per diluted share, in the first quarter of 2024 and $33.9 million, or $0.54 per diluted share, in the fourth quarter of 2024.

Non-GAAP net income attributable to Photronics, Inc. shareholders was $32.4 million, or $0.52 per diluted share, compared with $29.9 million, or $0.48 per diluted share in the first quarter of 2024 and $37.1 million, or $0.59 per diluted share, in the fourth quarter of 2024.

The company also provided guidance for the second quarter of fiscal 2025, expecting revenue to be between $208 million and $216 million and non-GAAP net income attributable to Photronics, Inc. shareholders to be between $0.44 and $0.50 per diluted share.

Moreover, Photronics generated $78.5 million in cash from operating activities, invested $35.2 million in organic growth through capital expenditures, and returned $4.6 million to shareholders through share repurchases. At the end of the quarter, the company had $642.2 million in cash and $2.7 million in debt.

These numbers paint a picture of a company navigating a competitive and evolving market, with a focus on managing costs and optimizing product mix to deliver margins. As the company looks ahead, analysts and investors will be paying close attention to how Photronics executes its strategies in the coming quarters amidst industry dynamics and market challenges. As a result of these announcements, the company's shares have moved 1.8% on the market, and are now trading at a price of $21.07. For the full picture, make sure to review Photronics's 8-K report.

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