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Photronics Shares Fall On Dim Q4 Forecast; Clocks 29% Revenue Growth In Q3

Published 30/08/2022, 13:27
© Reuters.  Photronics Shares Fall On Dim Q4 Forecast; Clocks 29% Revenue Growth In Q3
PLAB
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  • Photronics, Inc (NASDAQ: PLAB) reported third-quarter FY22 revenue growth of 29% year-on-year to $219.9 million, beating the consensus of $210 million.
  • Segments: Integrated circuit (IC) revenue grew 37% Y/Y to $161.3 million. Flat-panel display (FPD) revenue increased 11% Y/Y to $58.7 million.
  • Margin: The gross margin expanded by 1,157 bps to 38.1%.
  • The operating margin expanded by 1,230 bps to 29%.
  • EPS of $0.51 beat the consensus of $0.50.
  • Photronics held $383.7 million in cash and equivalents.
  • Outlook: Photronics sees Q4 revenue of $205 million - $215 million versus the consensus of $214.5 million.
  • The company sees EPS of $0.44 - $0.52, below the consensus of $0.53.
  • Price Action: PLAB shares traded lower by 9.51% at $19.70 in pre-market on the last check Tuesday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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