BROOKFIELD, Conn., June 19, 2025 (GLOBE NEWSWIRE) -- Photronics, Inc. (Nasdaq: PLAB), a worldwide leader in photomask technologies and solutions, received the Outstanding Contribution award from Visionox at its recent supply chain seminar. The Outstanding Contribution award is the highest level of achievement awarded by Visionox and demonstrates Photronics dedication to customer excellence. “Visionox is a long-standing Flat Panel Display customer of Photronics,” said HK Park, General Manager FPD Asia. “This ...

Photronics (PLAB) Q2 2025 Earnings Call May 28, 2025 08:30 AM ET Company Participants Ted Moreau - VP - Investor RelationsFrank Lee - Chief Executive OfficerGeorge Macricostas - Executive ChairmanEric Rivera - CFOTom Diffely - Director Of Institutional ResearchChristopher Progler - Executive Vice President, Chief Technology Officer, Strategic Planning Conference Call Participants Gowshi Sriharan - Analyst Operator Good day, and thank you for standing by. Welcome to the Photronics Second Quarter Fiscal twent ...

Financial Data and Key Metrics Changes - The company achieved second quarter sales of $211 million, which was in the middle of the guidance range, representing a 3% year-over-year decline [7][16] - Non-GAAP diluted EPS was reported at $0.40, while diluted GAAP EPS attributable to shareholders was $0.15 [20] - Gross margin was 37%, in line with the quarterly average over the past three years, and operating margin improved to 26%, above guidance [19][20] Business Line Data and Key Metrics Changes - Integrated Circuit (IC) revenue was $156 million, down 3% year-over-year, with high-end revenue increasing 2% year-over-year, representing 38% of IC revenue [16][19] - Flat Panel Display (FPD) revenue was $55 million, declining 2% year-over-year, with seasonal demand expected to uplift later in the quarter [18][19] Market Data and Key Metrics Changes - Revenue from IC joint ventures in China and Taiwan remained healthy, while revenue from the U.S. declined sequentially due to lower-end design node weakness [19] - The company noted a broad-based weakness in mainstream markets, particularly in Europe, which is heavily reliant on automotive and industrial microcontrollers [30] Company Strategy and Development Direction - The company is focusing on capacity expansion in the U.S. to support reshoring semiconductor production and is strategically positioned to benefit from the transition to higher-end nodes [8][11] - The management emphasized the importance of geographic footprint as a strategic asset to mitigate tariff costs and support global customers [12][19] Management Comments on Operating Environment and Future Outlook - Management expressed caution regarding near-term demand due to macroeconomic uncertainties and tariff dynamics, expecting third quarter revenue to be in the range of $200 million to $208 million [23][47] - The company remains optimistic about the long-term health and growth potential, as indicated by the $72 million spent on share repurchases [22][48] Other Important Information - The CEO announced retirement after three years, with George Makrokastas appointed as the new CEO, focusing on operational execution and profitable growth [12][14] - The company plans to spend $200 million in CapEx for fiscal 2025, with a focus on capacity, capability, and end-of-life tool initiatives [21] Q&A Session Summary Question: Insights on mainstream business and supply-demand dynamics - Management noted that the mainstream market remains weak due to low wafer fab utilization among aged fab customers, particularly in power, industrial, and consumer sectors [25][26] Question: Weakness in Asia and its impact - The weakness is not confined to Asia; it is broad-based, with Europe showing significant weakness due to its reliance on automotive and industrial applications [30] Question: Year-over-year earnings impact - The largest impact on earnings year-over-year is attributed to pricing pressures in the mainstream market, although product mix strategies are being employed to mitigate this [32][33] Question: Priorities for the new CEO - The new CEO indicated a focus on cost structure, driving revenue, and gaining market share, emphasizing an orderly transition rather than a wholesale change [39][40] Question: Capacity expansion versus regionalization - The company will evaluate opportunities in the U.S. while balancing growth in Asia, particularly in response to geopolitical issues and reshoring efforts [46] Question: Share repurchase strategy - The company will remain opportunistic with the existing share repurchase authorization and will consider future expansions based on investment opportunities [48]

Investor Presentation May 2025 PHOTRONICS, INC. Safe Harbor Statement This presentation and some of our comments during this presentation may contain projections or other forward-looking statements regarding future events, our future financial performance, and/or the future performance of the industry. These statements are predictions and contain risks and uncertainties. We refer you to the risk factors in our Annual Report on Form 10-K for the fiscal year ended October 31, 2024 and other subsequent filings ...

Core Viewpoint - Photronics, Inc. reported its second-quarter fiscal 2025 financial results, revealing a decline in revenue and net income, while announcing a leadership transition with Dr. Frank Lee stepping down as CEO and Mr. George Macricostas taking over the role [1][2][8]. Financial Performance - Revenue for the second quarter was $211.0 million, a decrease of 3% year-over-year and 1% sequentially [8]. - GAAP net income attributable to Photronics, Inc. shareholders was $8.9 million, or $0.15 per diluted share, compared to $36.3 million, or $0.58 per diluted share, in the second quarter of 2024 [8]. - Non-GAAP net income attributable to Photronics, Inc. shareholders was $24.3 million, or $0.40 per diluted share, down from $28.7 million, or $0.46 per diluted share, in the same quarter last year [8][19]. - Integrated Circuit (IC) revenue was $155.9 million, down 3% year-over-year but up 1% sequentially [8]. - Flat Panel Display (FPD) revenue was $55.1 million, down 2% year-over-year and 5% sequentially [8]. Cash Flow and Shareholder Returns - Cash generated from operating activities was $31.5 million, with $60.5 million invested in organic growth through capital expenditures [8]. - The company returned $72 million to shareholders through stock repurchases during the quarter [2][8]. - Cash, cash equivalents, and short-term investments at the end of the quarter totaled $558.4 million [8]. Guidance for Future Performance - For the third quarter of fiscal 2025, Photronics expects revenue to be between $200 million and $208 million, with non-GAAP net income attributable to shareholders projected to be between $0.35 and $0.41 per diluted share [4]. Leadership Transition - Dr. Frank Lee will continue to manage the company's Asia operations and remain Chairman and President of Photronics' PDMC subsidiary in Taiwan [1][2]. - Mr. George Macricostas has assumed the role of Chief Executive Officer while remaining Chairman of the Board [1][2]. 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].

We initiate coverage on Photronics, Inc. (NASDAQ: PLAB ) at Strong Buy and $32 PT. Photronics, Inc. makes photomasks used in integrated circuits and flat panel display manufacturing in the US, Asia, and Europe. Our Strong Buy rating is based on our above consensusMoretus Research delivers state-of-the-art, buy-side quality equity research for serious investors seeking clarity, conviction, and alpha. Focused on U.S. public markets, Moretus applies a structured, repeatable framework to identify companies with ...

About Photronics BROOKFIELD, Conn., May 07, 2025 (GLOBE NEWSWIRE) -- Photronics, Inc. (Nasdaq:PLAB), a worldwide leader in photomask technologies and solutions, announced today its participation in the following upcoming financial conferences: Date: Thursday, May 29 Event: TD Cowen's 53 Annual Technology, Media & Telecom Conference Location: New York, NY Presentation Time: 10:15 a.m. ET Date: Tuesday, June 10 Event: D.A. Davidson's 1 Annual Technology & Consumer Conference Location: Nashville, TN Date: Wedn ...

Industry Overview - The tech sector has faced significant challenges at the start of the year, with the Technology Select Sector SPDR Fund (XLK) declining by approximately 10% year-to-date (YTD), compared to a 5% drop in the S&P 500 [1] - Factors contributing to this downturn include tariffs, trade tensions with China, and disruptions in the supply of rare earth metals [1] Investment Opportunities - Despite the market turmoil, there are still potential investment opportunities within the tech sector, particularly in value stocks that have been disproportionately affected [3][4] - Investors are encouraged to look for companies with strong fundamentals and analyst support to assess potential recovery [4][5] Company Analysis: Hut 8 Corp. - Hut 8 Corp. has seen its stock price decrease by about 44% YTD, currently priced at $13.80, with a 12-month price forecast of $27.08, indicating a potential upside of 96.21% [6][8] - The company has a price-to-sales (P/S) ratio of 1.89 and a price-to-book (P/B) ratio of 2.24, suggesting it may be undervalued [7] - Analysts have shown optimism towards Hut 8, with all 13 ratings set at Buy and a consensus price target approximately 125% above the current share price [8] Company Analysis: Photronics Inc. - Photronics Inc. has experienced a 24% decline in share price YTD, currently at $19.22, with a 12-month price forecast of $35.00, representing an upside of 82.10% [9][10] - The company's price-to-earnings (P/E) ratio is near an all-time low at approximately 7.94, making it an attractive option for investors [10] Company Analysis: Gilat Satellite Networks - Gilat Satellite Networks has bucked the trend with a 4% increase in share price YTD, currently at $6.53, and a 12-month price forecast of $8.50, indicating a potential upside of 30.17% [11][12] - The company has a modest P/S ratio of 1.18, suggesting it may be undervalued, and has recently acquired Stellar Blu, enhancing its position in the electronically steered antenna (ESA) market [12][13]

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Photronics, Inc. (NASDAQ:PLAB) Q1 2025 Earnings Conference Call February 26, 2025 8:30 AM ET Company Participants Ted Moreau - Vice President of Investor Relations Frank Lee - Chief Executive Officer Eric Rivera - Chief Financial Officer Chris Progler - Chief Technology Officer Conference Call Participants Thomas Diffely - D.A. Davidson Gowshi Sriharan - Singular Research Operator And hello, and welcome to Photronics fiscal first quarter 2025 financial results conference call. At this time, all participants ...