Filing Flows › Photronics (PLAB) › Q4 FY24
Photronics (PLAB) Q4 FY24 earnings results (fourth quarter fiscal 2024)
10-K filed Dec 19, 2024
Photronics (PLAB) reported revenue of $223M for the fourth quarter fiscal 2024 (Q4 FY24), -2% from a year earlier and +6% from the quarter before. Operating margin was 25.1%, net earnings $33.9M (15.2% of revenue).
Photronics, Q4 FY24: revenue $223M (-2% year over year), operating margin 25.1%, net earnings $33.9M, operating cash flow $68.4M. The chart follows the revenue to costs, profit and cash.
| Q4 FY24 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $223M | +6% | -2% |
| Gross profit | $82.3M | +10% | -3% |
| Operating profit | $55.8M | +7% | -14% |
| Net earnings | $33.9M | -2% | -24% |
| Operating cash flow | $68.4M | -9% | -36% |
| Free cash flow | $25.2M | -50% | -54% |
What changed
Revenue was $222.6M in Q4 FY24, down 2% year over year and up 6% from the previous quarter. Mainstream was the largest line at 47% of revenue.
Gross margin was 37.0%, down 0.3 points from a year earlier. Operating profit was $55.8M, a 25.1% margin (down 3.4 points year over year). Operating expenses grew 32% against a revenue fall of 2%. The fastest-growing cost line was Research & development (+57%). Net earnings were $33.9M, down 24% year over year. The effective tax rate was 26.6%.
Operating cash flow was $68.4M (down 36% year over year), 170% of net income including minority interests. Non-cash charges added back $20.8M of depreciation and amortization and $4.0M of share-based compensation. Capital expenditures of $43.2M left free cash flow of $25.2M.
Questions
What was Photronics' revenue in the fourth quarter fiscal 2024?
Photronics (PLAB) reported revenue of $223M for the fourth quarter fiscal 2024 (Q4 FY24), -2% from a year earlier and +6% from the quarter before.
Was Photronics profitable in the fourth quarter fiscal 2024?
Operating profit was $55.8M (25.1% of revenue) and net earnings $33.9M.
Source: Photronics 10-K on SEC EDGAR.