Photronics Q4 EPS $0.60, Vs $0.51 YoY, Sales $227.50M Up 8% YoY
Portfolio Pulse from Benzinga Newsdesk
Photronics, Inc. reported its fourth quarter fiscal 2023 results with a revenue of $227.5 million, an 8% increase YoY and a 1% increase sequentially. GAAP net income for shareholders was $44.6 million ($0.72 per diluted share), up from $37.1 million ($0.60 per diluted share) in Q4 2022. Non-GAAP net income was $37.2 million ($0.60 per diluted share), compared to $31.2 million ($0.51 per diluted share) in Q4 2022. IC revenue rose 5% YoY to $164.5 million, and FPD revenue hit a record $63.0 million, a 17% increase YoY. Operating activities generated $106.6 million in cash, with $52.5 million invested in capital expenditures. The cash balance at quarter's end was $499.3 million, with $12.9 million in short-term investments and $24.6 million in debt.
December 13, 2023 | 11:26 am
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Photronics reported an increase in Q4 revenue and net income, with record FPD revenue and a strong cash position. The company's financial performance exceeded the previous year's results.
The positive earnings report with increased revenue and net income, as well as record FPD revenue, is likely to be viewed favorably by investors. The company's solid financial performance suggests potential for stock price appreciation in the short term.
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