Photronics Inc. (PLAB) beat analysts’ expectations on both revenue and earnings for the fourth quarter of 2018. Despite the beat, the stock was down 0.10% during premarket hours on Wednesday.
Total revenue rose 20% to a record $144.7 million versus last year, helped by growth in the IC and FPD segments, strong mask demand and successful business repositioning.
Net income attributable to Photronics Inc. shareholders was $12.5 million, or $0.18 per share, compared to $5.4 million, or $0.08 per share, in the same period last year.
During the quarter, integrated circuit (IC) revenue grew 15% to $110.9 million from last year. The segment saw sequential growth in high-end memory while high-end logic declined due to soft demand in customer end-markets.
Earnings preview: Integrated circuits demand to drive Photronics Q4 results
Flat panel display (FPD) revenue grew 36% to $33.8 million versus the year-ago quarter, driven by growth in high-end AMOLED as well as strong demand in Korea and China.
For the first quarter of 2019, Photronics expects revenue to be between $120 million and $130 million and diluted EPS to be between $0.01 and $0.07. The company believes it is well-positioned moving into 2019 to ramp its China factories and continue with the next phase of profitable growth.
Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!
Most Popular
FDX Earnings: FedEx Q1 adjusted earnings drop; revenue up 5%
Cargo giant FedEx Corporation (NYSE: FDX) Thursday reported a decline in first-quarter adjusted earnings, despite an increase in revenues. The company also provided guidance for fiscal 2023. Net income, adjusted
Key highlights from Darden Restaurants (DRI) Q1 2023 earnings results
Darden Restaurants, Inc. (NYSE:DRI) reported first quarter 2023 earnings results. Total sales increased 6.1% year-over-year to $2.4 billion, driven by blended same-restaurant sales growth of 4.2%. Net earnings amounted to
ACN Earnings: Key quarterly highlights from Accenture’s Q4 2022 financial results
Accenture (NYSE: ACN) reported fourth quarter 2022 earnings results today. Total revenues were $15.4 billion, up 15% year-over-year in US dollars and up 22.4% in local currency. Net income attributable
