U.S. Markets closed

Free Post Earnings Research Report: Photronics' Revenues Grew 20.8%; EPS Zoomed 400%

LONDON, UK / ACCESSWIRE / June 22, 2018 / If you want access to our free earnings report on Photronics, Inc. (NASDAQ: PLAB), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PLAB. The Company reported its financial results on May 22, 2018, for the second quarter of the fiscal year 2018. The Brookfield, Connecticut-based Company surpassed analysts' estimates for revenue and earnings for Q2 FY18. In addition, the Company provided its guidance for the third quarter of the fiscal year 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Photronics most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=PLAB

Earnings Highlights and Summary

For the second quarter ended April 29, 2018, Photronics' revenues advanced 20.8% to $130.8 million compared to $108.3 million in the second quarter of the fiscal year 2017, primarily as a result of high-end Integrated Circuit product revenue growth. The Company's revenue numbers exceeded analysts' estimates of $124.17 million.

For the reported quarter, Photronics incurred cost of goods sold of $98.0 million versus $88.1 million in the year-ago comparable period, increasing 11.1% on a y-o-y basis. The Company's gross profit grew 62.8% to $32.8 million in Q2 FY18 compared to $20.2 million in Q2 FY17. The Company's gross margin advanced to 25.1% in Q2 FY18 compared to 18.6% in Q2 FY17.

During Q2 FY18, Photronics' operating expenses increased 19.4% to $17.5 million compared to $14.6 million in Q2 FY17. The Company posted an operating income of $15.4 million in the reported quarter compared to $5.5 million in the year-ago same period, increasing 177.5% on a y-o-y basis.

Photronics' net income zoomed 493.5% to $10.7 million in Q2 FY18 versus $1.8 million in Q2 FY17. The Company's earnings per share (EPS) surged 400.0% to $0.15 in the reported quarter compared to $0.03 in the corresponding quarter of last year. The Company's reported EPS beats analysts' projections of $0.07.

Product Details

Photronics' revenues are categorized under two product types; namely: (i) Integrated Circuit (IC) and (ii) Flat Panel Display (FPD).

Photronics generated revenues of $102.3 million from its IC product line in Q2 FY18, increasing 23.7% on a y-o-y basis.

For the reported quarter, Photronics' FPD revenues climbed to $28.5 million, up by 11.2% on a y-o-y basis.

Cash Matters

As of April 29, 2018, Photronics' cash and cash equivalents stood at $321.2 million compared to $345.7 million as of April 30, 2017. The Company had long-term borrowings of $17.7 million as of April 29, 2018, compared to $16.4 million as of October 29, 2017. At the end of the second quarter of the fiscal year 2018, the Company had inventories of $31.9 million compared to $23.7 million in the second quarter of the fiscal year 2017.

For the reported quarter, Photronics generated cash from operating activities of $37.9 million compared to $46.9 million in the prior year's same period.

Outlook

For Q3 FY18, Photronics expects revenues to be in the range of $128.0 million and $136.0 million, and EPS to be in the band of $0.12 and $0.18.

Stock Performance Snapshot

June 21, 2018 - At Thursday's closing bell, Photronics' stock ended the trading session flat at $8.45.

Volume traded for the day: 411.89 thousand shares.

After yesterday's close, Photronics' market cap was at $614.74 million.

Price to Earnings (P/E) ratio was at 23.15.

The stock is part of the Technology sector, categorized under the Semiconductor Equipment & Materials industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

SOURCE: Active-Investors