Core Insights - Photronics, Inc. reported strong financial results for the fourth quarter and full year of fiscal 2025, achieving record high end revenue, particularly in the United States [2][3]. Full Year Fiscal 2025 Results - Total revenue for fiscal year 2025 was $849.3 million, a decrease of 2.0% year-over-year [7]. - GAAP net income attributable to Photronics, Inc. shareholders was $136.4 million, or $2.28 per diluted share, compared to $130.7 million, or $2.09 per diluted share in 2024 [7]. - Non-GAAP net income attributable to Photronics, Inc. shareholders was $120.6 million, or $2.01 per diluted share, down from $127.6 million, or $2.05 per diluted share in 2024 [7]. - Integrated Circuit (IC) revenue was $615.1 million, down 4% year-over-year, while Flat Panel Display (FPD) revenue was $234.2 million, up 2% year-over-year [7]. Fourth Quarter Fiscal 2025 Results - Revenue for the fourth quarter was $215.8 million, down 3.1% year-over-year but up 2.6% sequentially [7]. - GAAP net income attributable to Photronics, Inc. shareholders was $61.8 million, or $1.07 per diluted share, compared to $33.9 million, or $0.54 per diluted share in the fourth quarter of 2024 [7]. - Non-GAAP net income attributable to Photronics, Inc. shareholders was $34.6 million, or $0.60 per diluted share, compared to $37.1 million, or $0.59 per diluted share in the fourth quarter of 2024 [7]. - IC revenue for the fourth quarter was $157.4 million, down 4% year-over-year but up 7% sequentially [7]. - FPD revenue was $58.3 million, down 1% year-over-year and down 7% sequentially [7]. Cash Flow and Investments - Cash generated from operating activities for the year was $247.8 million, with cash invested in organic growth through capital expenditures totaling $188.1 million [7]. - For the fourth quarter, cash generated from operating activities was $87.8 million, with cash invested in capital expenditures amounting to $67.5 million [7]. Guidance for First Quarter Fiscal 2026 - Photronics expects revenue for the first quarter of fiscal 2026 to be between $217 million and $225 million, with non-GAAP net income attributable to shareholders projected to be between $0.51 and $0.59 per diluted share [5].

Core Viewpoint - Photronics, Inc. reported strong financial results for the third quarter of fiscal year 2025, with revenue, profitability, and earnings per share exceeding expectations. The company aims to enhance operational efficiency and geographic revenue diversification for sustained growth [2][4]. Financial Performance - Revenue for the third quarter was $210.4 million, a decrease of 0.3% year-over-year and sequentially [8]. - GAAP net income attributable to shareholders was $22.9 million, or $0.39 per diluted share, compared to $34.4 million, or $0.55 per diluted share, in the same quarter of 2024 [8]. - Non-GAAP net income attributable to shareholders was $29.4 million, or $0.51 per diluted share, compared to $31.9 million, or $0.51 per diluted share, in the third quarter of 2024 [8]. - Integrated Circuit (IC) revenue was $147.8 million, down 5% year-over-year and sequentially, while Flat Panel Display (FPD) revenue was $62.6 million, up 14% year-over-year and sequentially [8]. Cash Flow and Investments - Cash, cash equivalents, and short-term investments at the end of the quarter totaled $575.8 million, with $396.8 million associated with joint ventures [8]. - Cash generated from operating activities was $50.1 million, with $24.8 million invested in organic growth through capital expenditures and $20.7 million returned to shareholders via share repurchases [8]. - The Board of Directors authorized an increase of $25 million to the share repurchase program [8]. Fourth Quarter Guidance - For the fourth quarter of fiscal 2025, Photronics expects revenue to be between $201 million and $209 million, and non-GAAP net income per diluted share to be between $0.42 and $0.48 [4]. Company Overview - Photronics is a leading manufacturer of photomasks for integrated circuits and flat panel displays, operating 11 manufacturing facilities across Asia, Europe, and North America [6].