Welcome to our dedicated page for Photronics news (Ticker: PLAB), a resource for investors and traders seeking the latest updates and insights on Photronics stock.
Photronics Inc (PLAB) delivers precision photomasks and reticles critical for semiconductor manufacturing and display technologies. This news hub provides investors and industry professionals with authoritative updates on corporate developments, technological advancements, and market positioning.
Access real-time announcements including quarterly earnings, manufacturing innovations, strategic partnerships, and operational expansions. Our curated collection ensures transparent tracking of PLAB's role in enabling next-generation integrated circuits and flat-panel displays through advanced photolithography solutions.
Key updates cover product lifecycle developments, quality certifications, and capacity enhancements across global facilities in the United States and Asia. Monitor critical announcements affecting semiconductor supply chains and display production ecosystems through verified press releases and objective reporting.
Bookmark this page for continuous access to Photronics' official communications, ensuring informed analysis of their contributions to microelectronics manufacturing. Regular updates maintain visibility into operational milestones shaping photomask technology leadership.
Photronics (NASDAQ: PLAB) has appointed Eric Rivera as its new chief financial officer (CFO), effective immediately. Rivera, who has been with the company since 2020 as chief accounting officer and interim CFO since February 2024, brings extensive financial expertise to his new role. CEO Frank Lee expressed confidence in Rivera's ability to contribute to the company's profitability and shareholder value. Rivera himself is optimistic about leveraging his experience to enhance the company's financial health and drive profitable growth.
Photronics (NASDAQ: PLAB) reported its Q2 FY2024 results on May 22, 2024, highlighting a stable revenue of $217.0 million, which is down 5% YoY but up 0.3% sequentially. The company faced headwinds due to temporary soft demand post-Chinese New Year and Taiwan earthquakes, impacting revenue by $3 million. GAAP net income was $36.3 million ($0.58 per diluted share), a decline from $39.9 million ($0.65 per diluted share) in Q2 2023.
Non-GAAP net income stood at $28.7 million ($0.46 per diluted share), down from $32.9 million ($0.54 per diluted share) YoY. IC revenue was $160.9 million, down 4% YoY, while FPD revenue decreased by 10% to $56.1 million. Cash generated from operations was $76.5 million, with $20 million invested in capital expenditures. The cash balance was $539.2 million.
For Q3 FY2024, Photronics expects revenue between $221 million and $229 million, with non-GAAP net income per diluted share ranging from $0.53 to $0.59.
Photronics, Inc. (PLAB) will report its second-quarter earnings for fiscal 2024 on May 22, 2024. The company will host a public conference call to discuss financial performance, business conditions, and industry outlook.
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