Photronics Earnings: Everything You Must Know Now
Photronics Inc. (NASDAQ:PLAB) delivered a profit and beat Wall Street’s expectations, BUT missed the revenue expectation.
Photronics Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $0.04 in the quarter versus EPS of $0.09 in the year-earlier quarter.
Revenue: Decreased 10.98% to $99.84 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Photronics Inc. reported adjusted EPS income of $0.04 per share. By that measure, the company beat the mean analyst estimate of $0.02. It missed the average revenue estimate of $98.88 million.
Quoting Management: Constantine (“Deno”) Macricostas, Photronics’ chairman and chief executive officer commented, “As anticipated, the soft demand environment for integrated circuit (IC) photomasks continued into our seasonally slow first fiscal quarter. Flat panel display (FPD) photomask demand gained strength during the quarter resulting in sales of $99.8 million, which was at the high end of our guidance range. On the bottom line, we achieved EPS of $0.04 per diluted share, exceeding our guidance range.”
Key Stats (on next page)…
Revenue decreased 4.2% from $104.22 million in the previous quarter. EPS decreased 42.86% from $0.07 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.11 to a profit $0.08. For the current year, the average estimate has moved down from a profit of $0.48 to a profit of $0.41 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)