Photronics Reports Q1 Fiscal 2025 Results, Announces Conference Call

Photronics, Inc. (NASDAQ: PLAB) announced on February 26, 2025, the release of its first quarter fiscal 2025 financial results through a press release and accompanying slide presentation. The company also confirmed that it will conduct a conference call on the same day to discuss the quarter’s operational performance and other materials.

The filing, submitted on Form 8-K, indicates that Photronics’ Q1 results reflect a sequential seasonal decline in revenue across both its integrated circuit (IC) and flat panel display (FPD) segments. Despite this seasonal downturn, the company noted that long?term demand remains robust, driven by megatrends including artificial intelligence, node migration, and global supply chain regionalization.

According to details included in the slide presentation (Exhibit 99.2), Photronics reported figures that underscore several key operational highlights for the quarter. The presentation cited:
• A capex investment of approximately $212.1 million, signaling strong customer endorsement to support long-term growth trends.
• An operating margin that, while pressured by lower sales volumes and related gross margin compression, reflected improvements in operating expenses on a sequential basis.
• Non-GAAP diluted earnings per share (EPS) reported at $0.52, which surpassed the high end of the company’s guidance after adjustments for foreign exchange effects.

In addition to reviewing its Q1 performance, Photronics provided preliminary guidance for fiscal second quarter 2025. The company expects revenue in the range of $208 million to $216 million, with an operating margin between 23% and 25% and diluted non-GAAP EPS between $0.44 and $0.50. Full-year capital expenditures are anticipated to be around $200 million. The guidance reflects a balance between strength in higher-end segments and softness in older geometries, with an emphasis on investments in growth areas such as advanced packaging and ASIC and custom IC applications.

The investor presentation further detailed performance across product lines, highlighting that high-end IC products, particularly in advanced node migration (22nm and 28nm processes) in Asia, have shown modest revenue growth, whereas mainstream products experienced a decline. Photronics also emphasized its commitment to leveraging its global operational footprint and strong balance sheet, marked by robust cash flow generation and significant debt reduction, to pursue capital allocation strategies including expansion of its U.S. IC manufacturing capacity.

To support these forward-looking statements, the slide presentation included a safe harbor statement noting that certain comments and projections might involve risks and uncertainties that could cause actual results to differ materially from those anticipated. The company pointed investors to its regulatory filings for a detailed discussion of such risk factors.

During the conference call, scheduled to disclose additional details on these financial results and strategic initiatives, Photronics is expected to discuss the execution of its capital allocation strategy aimed at sustaining growth and improving shareholder value amid evolving industry dynamics.

Photronics’ timely disclosure on Form 8-K underscores its commitment to transparent communication with investors and highlights the operational adjustments and strategic investments planned to navigate both near-term seasonal trends and longer-term market shifts.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Photronics’s 8K filing here.

About Photronics

Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe, and internationally. It offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, and FDP substrates.