Photronics ( (PLAB) ) has released its Q4 earnings. Here is a breakdown of the information Photronics presented to its investors.
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Photronics, Inc. is a global leader in the production of photomasks, essential components in the manufacturing of integrated circuits and flat panel displays, serving the semiconductor and display industries with facilities across Asia, Europe, and North America.
The company has released its financial results for the full year and fourth quarter of fiscal 2024, noting a sequential revenue growth in the fourth quarter driven by increased sales in both its Integrated Circuits (IC) and Flat Panel Displays (FPD) segments. Despite a slight annual decline in revenue, Photronics reported an improvement in net income compared to the previous year.
For fiscal year 2024, the company reported a total revenue of $866.9 million, marking a 3% decrease from the previous year. However, the GAAP net income increased to $130.7 million, or $2.09 per diluted share, up from $125.5 million, or $2.03 per diluted share, in 2023. The fourth quarter saw a revenue of $222.6 million, with a slight year-over-year decrease but a 6% sequential increase, showing a recovery in sales momentum. The company maintained a robust cash position with $640.7 million in cash and short-term investments.
The company remains optimistic about future growth, driven by favorable demand trends in photomasks, supported by emerging technologies such as AI and edge computing. With strategic financial management aimed at expanding margins and enhancing cash flow, Photronics is poised to continue its profitable growth trajectory and deliver value to shareholders.
