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Photon Control Inc. (PHO.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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3.6000+0.0100 (+0.28%)
At close: 03:59PM EDT

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  • m
    Vancouver, BC, March 18, 2021 – Photon Control Inc. (“Photon Control” or the “Company”) (TSX: PHO), a leading manufacturer of fiber optic measurement solutions to the semiconductor industry, is pleased to announce its financial results (in Canadian dollars) for the three months and full year ended December 31, 2020.
    Highlights for the fourth quarter and year ended December 31, 2020 were as follows:
    • Record annual revenue of $64.7 million (2019: $32.7m) and $14.9 million (Q419: $8.9m) for the quarter;
    • Record annual adjusted EBITDA[1] of $22.8 million (2019: $7.2m) or 35% (2019: 22%) of revenue and $3.7 million (Q419: $2.1m) or 25% (Q419: 24%) for the quarter;
    • Record annual net income of $14.1 million (2019: $2.4m) and $1.2 million (Q419: $0.7m) for the quarter;
    • Annual basic earnings per share of $0.13 (2019: $0.02) and $0.02 (Q419: $0.01) for the quarter;
    • Annual gross margin of 60% (2019: 54%) and 55% (Q419: 53%) for the quarter;
    • Record annual investment of $5.7 million and $1.8 million for the quarter into Research and Development;
    • Record year-end backlog of $30.3 million (2019: $20.8m); and
    • Cash and cash equivalents of $48.4 million at December 31, 2020, increased $15.0 million from December 2019.
    “We are very pleased to announce a record year for Photon Control, and a strong finish to 2020, with Q4 revenues 69% higher than the comparable period in 2019,” said Nigel Hunton, Chief Executive Officer. “Throughout the year, we executed on our strategic objectives of outpacing semiconductor capital equipment growth and growing earnings faster than revenues. Compared to industry growth of approximately 18% in 2020, our revenues increased 98%, and earnings growth exceeded 500%, compared to 2019. Our relative outperformance is testament to the enabling role of Photon Control within the global semiconductor manufacturing industry, the strength of our customer partnerships with the world’s leading Original Equipment Manufacturers (“OEMs”), and the increasing importance of precise control of critical processes at successive technology nodes.”
    The Company’s revenues are chiefly derived from the semiconductor capital equipment sector, and expenditures for Wafer Fabrication Equipment (“WFE”) have continued at record levels in Q4 of 2020 and Q1 of 2021 to date, and are expected to increase year-over-year in 2021.
  • N
    This company is such a gem. They continually increase revenue / profits. Soon enough their stock will follow suit. Everyone going after high flying names on the TSX based on how well youtube pumps 'em. However, if you look at things at a macro level, chip shortage is a real thing, and these guys create technology that is integral to chip manufacturers. As the demand for EV's and other electronics heats up, this stock will do well by default. This is one of the best pick and shovel investments out there if you don't want to invest directly in a chip maker.

  • H
    Excellent earnings in tough times, rosey outlook for the coming year, semiconductor shortage with demand surging, down 6%, totally makes sense.
  • p
    how is this below 3.60 ? every single share holder currently has an offer to buy their shares at 3.60. you'd rather take 3.56 now rather than wait and see what happens ? outcomes are as follows:

    1) a higher offer or revised offer is submitted.
    2) no other offers, Share holders approved the merger and everyone gets 3.60/sh.
    3) the merger is rejected and we'll be back up to 3.60 in a year or two regardless with much more room to grow.

    based on the above, i'll take 3 or 1, depending on the conditions of the revised offer.

    my god people are impatient.

    i've been holding since 2018, i like this stock.
  • G
    lol how come every single stock I own releases awesome news and financials and the stock takes a nose dive? Do fundamentals mean absolutely nothing these days?
  • l
    Maybe I’m missing out on something but this company seems to have pretty strong financials and a good concept that seems to be fairly applicable to the current climate. Yet volume is low and even this message board is empty. Price has been doing well but I’ve seen far weaker companies doing far better, any ideas for why this hasn’t moved more than it has ?
  • b
    ben j
    Well, I am in @ 2.47 as well. I think earnings will be good and a company with over 43 million in cash, that is cash flow positive, has a lot of options moving forward. When more people get word of this company, it will do well.
  • A
    ASFAND nasar
    If this is not a best sale on market , IDK what is. Those numbers will make all institutional investors droll over this stock. I already have a lot of money in this stock , Throwing in all extra cash in this.
  • B
    Ben G
    This Company looks pretty solid. I will have to do a little more digging but could possibly open a position here in the short term. I picked up some IPNFF as well as loop Insights. Both company's have low floats as well as Huge Potential. Do some digging beyond the current share prices and you will see it.
  • R
    price is down because most ppl holding this are Canadian and if in Canada, weed stocks are on forefront of your mind. money will flow back into high growth canadian stocks once sndl tanks and the aphria/tilray merger is done
  • J
    Newer to investing. Does this mean our shares will just be bought out for the agreed price?
  • C
    I mean today is really not that bad. If you look at the chart, PHO is a steady grower that likes to fill in the gaps before moving up. We had a massive rally a month ago, and PHO needed to come back down to around 2.30-2.40. I know this sell off is due to macro factors, but I think it is actually rather good for PHO's future price momentum
  • D
    Didn't go below $2, guess I'm not buying more shares. Filled in the gaps and now we are prepared to go higher ;)
  • M
    buy the dip everyone the report is very positive, once the markets cool off a little we will see price go up shortly
  • C
    This company is getting more traction! Bought at 1.65 and so far very happy. These shares will treat me well in the future
  • m
    bought in at $2.60. and while i did my DD and it looked good, the biggest deciding factor was the fact i was craving noodles that day
  • S
    Oh, a growing, net positive company has a dip? I think I'll help myself!
  • S
    I bought at higher price on the rise @2.83. Have been waiting last few months believing that it would go up eventually. today is the day. patience pays off.
  • U
    Solid company. You can transfer some of your Loop Insights here to secure them. 🤷‍♂️
  • A
    The 1 year price target got changed and is now higher :p!