Semiconductor photomask manufacturer Photronics Inc (NASDAQ:PLAB) reported robust fourth-quarter results, surpassing analysts' expectations with an 8.2% year-over-year revenue increase to $227.5 million.
The company anticipates next quarter's revenue to be approximately $221 million, aligning with analysts' estimates.
Photronics achieved a GAAP profit of $0.72 per share, demonstrating notable improvement from $0.60 per share in the same quarter last year.
Photronics, with a market capitalization of $1.35 billion, stands out among smaller companies, boasting over $512.2 million in cash and positive free cash flow over the last 12 months, positioning it favorably for growth investments.
Impressive inventory level improvements and an EPS that outperformed Wall Street's estimates contributed to a solid quarter.
Shares of Photronics shot up over 16% on Wednesday morning at $25.12.