Categories Earnings, Technology

Earnings: Photronics posts mixed Q1 results

Imaging technology solutions company Photronics (PLAB) Thursday reported better-than-expected first quarter earnings, though revenue fell below the Street consensus. Net income attributable to Photronics fell to 8 cents per share from 9 cents per share a year ago. However, it was better than analysts’ expectation of 5 cents per share.

Revenue gained 1% to $124.7 million but fell short of the street expectation of $125.1 million. Revenue from integrated circuits declined 1% year-over-year, while that from flat panel display grew 7%.

CEO Peter Kirlin said, “We saw weaker demand in IC, for both high-end and mainstream, due to semiconductor industry macro headwinds and seasonal softness. For FPD, AMOLED demand was solid once again as new product development and introduction continues.”

READ: 5G deployment boosts Analog Devices Q1 results

He added that the work on the new China facility is progressing, where production is expected to kick-start in the second quarter.

For the second quarter of 2019, Photronics expects revenue between $125 million and $135 million, and net income in the range of $0.03 to $0.10 per diluted share.

PLAB ended its last trading session down 0.26% in red on Wednesday. The stock has gained almost 49% in the trailing 52 weeks.

 

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference, and much more!

Most Popular

360 DigiTech (NASDAQ: QFIN) Q3 2021 Research Summary

The positive effects of widespread digitalization and e-commerce growth on China’s financial services industry became more pronounced during the pandemic as the movement restrictions drove more retail customers to online

Activision Blizzard (ATVI): Three reasons why this stock deserves to be on your radar

Shares of Activision Blizzard Inc. (NASDAQ: ATVI) were up 1.6% on Thursday. The stock has dropped 14% since the start of the year. The company has been in the news

IPO Alert: Here’s all you need to know about Remitly Global’s upcoming market debut

The emergence of technology-driven financial services is making people think beyond conventional banks when it comes to availing loans and transferring funds. In a move aimed at taking its business

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top