Thu, Mar 13, 6:56 PM (45 days ago)
Photronics, Inc. (PLAB) reported a quarterly revenue of $212.1 million for the period ending February 2, 2025, a 4.7% decrease from the previous quarter and a 1.9% decrease year-over-year. This decline was primarily due to seasonal softness and mainstream weakness in Asia and Europe. Gross profit margin decreased to 35.6% from 37.0% in the previous quarter, mainly due to lower revenue and increased material costs. Operating income was $52.177 million, with a significant portion coming from other income, primarily due to favorable foreign currency impacts. Net income attributable to Photronics, Inc. shareholders was $42.851 million, with an effective tax rate of 24.5%. Cash and cash equivalents increased to $642.2 million, with significant maturities of short-term investments. The company repurchased 195,079 shares for $4.6 million under its share repurchase program. Photronics, Inc. faces uncertainties including global economic conditions, geopolitical risks, and industry-specific challenges. The company's liquidity and capital resources are robust, with plans for significant capital expenditures and potential strategic investments.