Photronics Q2 revenue $217M (-5% YoY); GAAP EPS $0.58; Q3 guidance $221-229M

PHOTRONICS INC

2024-Q2 EPS reported $1.00 revenue$433,334,000

Revenue $217.0M, down 5% YoY; IC $160.9M (-4% YoY), FPD $56.1M (-10% YoY).
GAAP net income $36.3M ($0.58 diluted EPS); Non-GAAP $28.7M ($0.46 diluted EPS).
Taiwan earthquakes and slower post-Lunar New Year demand caused ~$3M revenue impact.
Q3 fiscal 2024 guidance: revenue $221-229M, non-GAAP EPS $0.53-0.59 per diluted share.
Cash from operations $76.5M; cash balance $539.2M, debt $21.8M, net cash $517.4M.

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