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

August 30, 2022 8:27 AM | 1 min read | Make a Comment

Photronics, Inc 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.