Golf Clap for Photronics
Photronics (NAS: PLAB) reported earnings on March 7. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Jan. 29 (Q1), Photronics met expectations on revenues and earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share dropped significantly.
Margins shrank across the board.
Photronics notched revenue of $112.2 million. The six analysts polled by S&P Capital IQ looked for sales of $113.4 million on the same basis. GAAP reported sales were 7.2% lower than the prior-year quarter's $120.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.09. The six earnings estimates compiled by S&P Capital IQ forecast $0.09 per share on the same basis. GAAP EPS of $0.07 for Q1 were 65% lower than the prior-year quarter's $0.20 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 22.7%, 260 basis points worse than the prior-year quarter. Operating margin was 8.6%, 470 basis points worse than the prior-year quarter. Net margin was 3.8%, 620 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $116.8 million. On the bottom line, the average EPS estimate is $0.12.
Next year's average estimate for revenue is $485.7 million. The average EPS estimate is $0.55.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 125 members out of 150 rating the stock outperform, and 25 members rating it underperform. Among 36 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 29 give Photronics a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Photronics is outperform, with an average price target of $8.67.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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