PLAB - Photronics jumps 16% after FQ4 sets third quarterly revenue record

Photronics (PLAB +16.4%) shows FQ4 revenue was $181.3M, up 21% Y/Y, beats consensus by $6.28M. It is third consecutive quarterly record, up 6% sequentially and 21%Y/Y. Net income was $19.8M vs. $17.1M last year. GAAP EPS of $0.33 beats consensus by $0.08. Company expects FQ1 revenue to be between $178M and $186M (vs. consensus of $170.67M), and EPS to be between $0.27 and $0.34 vs. consensus of $0.22. “Past investments in targeted technologies are paying off, as margin expansion is accompanying top-line growth. We are generating gross and operating margins already at the high-end of the three-year target model we presented last year, and our strong cash flow enables us to invest in the business while we also return cash to shareholders as part of our disciplined capital allocation. With strong end market demand, solid balance sheet, broad geographic presence, and a team with a proven track record, we are excited about

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Photronics jumps 16% after FQ4 sets third quarterly revenue record