1. Photronics reports $849.3 million revenue, a 2% decrease year-over-year. 2. GAAP net income for FY2025 increased to $136.4 million from $130.7 million. 3. Fourth-quarter revenue reached $215.8 million, improved 2.6% sequentially. 4. Positive forecasts from U.S. customers confirm investment plans' effectiveness. 5. Guidance for Q1 2026 expects revenue between $217 million and $225 million.
FAQ
Why Bullish?
Despite a slight decline in yearly revenue, improved net income and sequential growth in the fourth quarter signal positive momentum. Similar scenarios in past transitions have led to stock appreciation.
How important is it?
The earnings report highlights substantial operational performance, which can influence stock sentiment and attract investors.
Why Short Term?
Short-term investor reactions are likely as guidance for Q1 2026 is released. Historical data shows immediate price adjustments following quarterly guidance announcements.
Photronics Reports Full Year and Fourth Quarter Fiscal 2025 Results
BROOKFIELD, Conn., Dec. 10, 2025 — Photronics, Inc. (NASDAQ: PLAB), a global leader in photomask technologies, has announced its financial results for the full year and the fourth quarter of fiscal year 2025, which concluded on October 31, 2025.
Fourth Quarter Fiscal 2025 Performance
During the fourth quarter, Photronics achieved record revenues of $215.8 million, down 3.1% year-over-year but up 2.6% sequentially. The GAAP net income attributable to Photronics shareholders was $61.8 million, or $1.07 per diluted share, compared to $33.9 million, or $0.54 per diluted share, in Q4 2024. CEO George Macricostas noted the positive trends within the U.S. market and comments on the future geographic diversification plans for Korea.
Fourth Quarter Financial Highlights:
- GAAP Net Income: $61.8 million (up from $33.9 million in Q4 2024)
- Non-GAAP Net Income: $34.6 million, or $0.60 per diluted share
- IC Revenue: $157.4 million, decreased by 4% year-over-year
- FPD Revenue: $58.3 million, down 1% from last year
- Operating Cash Flow: $87.8 million
Full Year Fiscal 2025 Overview
For the entire fiscal year, Photronics reported a revenue total of $849.3 million, representing a 2.0% year-over-year decline. However, the GAAP net income attributable to shareholders rose to $136.4 million, or $2.28 per diluted share, compared to $130.7 million or $2.09 per diluted share in 2024. The company saw a positive impact from a $16.8 million reduction in the deferred tax valuation allowance.
Annual Financial Highlights:
- Non-GAAP Net Income: $120.6 million, or $2.01 per diluted share
- IC Revenue: $615.1 million, down 4% year-over-year
- FPD Revenue: $234.2 million, an increase of 2% from the previous year
- Operational Cash Flow: $247.8 million
- Capital Expenditures for growth: $188.1 million
Guidance for First Quarter Fiscal 2026
Looking ahead, Photronics forecasts first quarter 2026 revenue to range between $217 million and $225 million, with expected non-GAAP net income per diluted share between $0.51 and $0.59.
Webcast and Future Prospects
A live webcast to discuss these results is scheduled for 8:30 a.m. Eastern time on December 10, 2025. The event will be available on demand via the Photronics website. Analysts and investors interested in the Q&A segment are encouraged to register in advance.
About Photronics
Founded in 1969, Photronics is a premier manufacturer of integrated circuit (IC) and flat panel display (FPD) photomasks—essential elements in electronic circuit production. With operational facilities across Asia, Europe, and North America, Photronics maintains its status as a reliable photomask supplier for over 56 years.
Forward-Looking Statements
This press release includes forward-looking statements regarding industry trends and company performance, subject to various risks and uncertainties. For detailed risk factors, please refer to the company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2024.