Photronics Inc. Files 10-Q for Period Ending January 28, 2024

TL;DR

<b>Photronics Inc. filed its Q1 2024 10-Q, detailing financial data and segment performance.</b>

AI Summary

PHOTRONICS INC (PLAB) filed a Quarterly Report (10-Q) with the SEC on March 7, 2024. Filing is a 10-Q for Photronics Inc. for the period ending January 28, 2024. The company's fiscal year ends on October 31st. The filing includes data from previous periods, such as October 31, 2023, and January 29, 2023. Key financial statement components like Retained Earnings, Additional Paid-In Capital, and Common Stock are detailed. Geographic segment data for China, US, Europe, Taiwan, and South Korea are included for the period November 1, 2023, to January 28, 2024.

Why It Matters

For investors and stakeholders tracking PHOTRONICS INC, this filing contains several important signals. This filing provides investors with the latest quarterly financial performance and position of Photronics Inc. The detailed segment information allows for analysis of revenue drivers and geographic contributions to the business.

Risk Assessment

Risk Level: medium — PHOTRONICS INC shows moderate risk based on this filing. The filing is a standard quarterly report, indicating ongoing operations and regulatory compliance, but lacks specific forward-looking guidance or significant financial events that would suggest higher risk.

Analyst Insight

Review the detailed segment performance and balance sheet changes to understand the company's operational and financial health in Q1 2024.

Key Numbers

• 2024-01-28 — Period End Date (Quarterly report period)
• 2024-03-07 — Filing Date (Date the report was filed)
• 10-31 — Fiscal Year End (Company's fiscal year end date)
• 0000810136 — Central Index Key (Company identifier)

Key Players & Entities

• PHOTRONICS INC (company) — Filer name
• 2024-01-28 (date) — Period of report
• 2024-03-07 (date) — Filing date
• 10-Q (form) — Document type
• NASDAQ (exchange) — Stock exchange
• 15 SECOR ROAD (address) — Business address
• BROOKFIELD (city) — Business address city
• CT (state) — Business address state

FAQ

Industry Context

Photronics Inc. operates in the semiconductor industry, specifically in the manufacturing of photomasks, which are critical components in the semiconductor fabrication process.

Regulatory Implications

As a publicly traded company, Photronics Inc. is subject to SEC regulations and reporting requirements, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the balance sheet details for changes in equity accounts (Retained Earnings, Additional Paid-In Capital, Common Stock).
2. Examine the geographic segment data to understand regional performance trends.
3. Note the dates of the reporting period and filing to ensure timely review of the latest financial information.

Key Dates

• 2024-01-28: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-03-07: Filing Date — Date the 10-Q was officially submitted to the SEC.
• 2023-10-31: Previous Fiscal Year End — Reference point for comparative financial data.
• 2022-10-31: Prior Year End — Reference point for comparative financial data.

Year-Over-Year Comparison

This filing represents the first quarterly report for fiscal year 2024, providing updated financial data compared to previous periods ending in 2023 and 2022.

Filing Documents

• ef20015307_10q.htm (10-Q) — 1387KB
• ef20015307_ex31-1.htm (EX-31.1) — 11KB
• ef20015307_ex31-2.htm (EX-31.2) — 11KB
• ef20015307_ex32-1.htm (EX-32.1) — 4KB
• ef20015307_ex32-2.htm (EX-32.2) — 4KB
• image00001.jpg (GRAPHIC) — 4KB
• 0001140361-24-011988.txt (&nbsp;) — 6937KB
• plab-20240128.xsd (EX-101.SCH) — 46KB
• plab-20240128_cal.xml (EX-101.CAL) — 61KB
• plab-20240128_def.xml (EX-101.DEF) — 205KB
• plab-20240128_lab.xml (EX-101.LAB) — 608KB
• plab-20240128_pre.xml (EX-101.PRE) — 377KB
• ef20015307_10q_htm.xml (XML) — 1078KB

Forward-Looking Statements

Forward-Looking Statements 4 PART I. FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (unaudited) 5 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Income 6 Condensed Consolidated Statements of Comprehensive Income 7 Condensed Consolidated Statements of Equity 8 Condensed Consolidated Statements of Cash Flows 9 Notes to Condensed Consolidated Financial Statements 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 32 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 3. Defaults Upon Senior Securities 33 Item 4. Mine Safety Disclosures 33 Item 5. Other Information 33 Item 6. Exhibits 35 2 Table of Contents Glossary of Terms and Acronyms Definitions of certain terms and acronyms that may appear in this report are provided below. AMOLED Active-matrix organic light-emitting diode. A technology used in mobile devices. Application-specific IC An integrated circuit customized for a particular use, rather than intended for general-purpose use ASC Accounting Standards Codification ASP Average Selling Price ASU Accounting Standards Update DNP Dai Nippon Printing Co., Ltd. EUV A wafer lithography technology using the industry standard extreme ultraviolet (EUV) wavelength. EUV photomasks function by selectively reflecting or blocking light, in contrast to conventional photomasks which function by selectively transmitting or blocking light Exchange Act The Securities Exchange Act of 1934 (as amended) FASB Financial Accounting Standards Board Form 10-K Annual Report on Form 10-K Form 10-Q Quarterly Report on Form 10-Q FPDs Flat-panel displays, or "displays" Generation In reference to flat-panel displays, refers to the size range of the underlying substrate to which a photomask is applied. Higher generation (or "G") numbers represent larger substrates High-end (photomasks) For IC, photomasks that are 28nm or smaller; for FPD, AMOLED, G10.5+, and LTPS photomasks ICs Integrated circuits, or semiconductors LIBOR London Inter-Bank Offered Rate LTPS Low-Temperature Poly Silicon, a polycrystalline silicon synthesized at relatively low temperatures; polycrystalline silicon in thin-film transistors (TFTs) are used in liquid-crystal display (LCD) flat panels and to drive organic light-emitting diode (OLED) displays MLA Master Lease Agreement Optical proximity correction A photolithography enhancem

Forward-Looking Statements

Forward-Looking Statements This Form 10-Q contains forward-looking statements, as defined by the SEC. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements made by us, or on our behalf. Forward-looking statements are statements other than statements of historical fact, including, without limitation, those statements that include such words as "anticipates", "believes", "estimates", "expects", "intends", "may", "plans", "predicts", and similar expressions, and, without limitation, may address our future plans, objectives, goals, strategies, events, or performance, as well as underlying assumptions and other statements that are other than Forward-looking statements involve risks and uncertainties, which could cause actual results or outcomes to differ materially from those expressed. Our expectations, beliefs, and projections are expressed in good faith and are believed by us to have a reasonable basis, including, without limitation, management's examination of historical operating trends, information contained in our records, and information we've obtained from other parties. However, we can offer no assurance that our expectations, beliefs, or projections will be realized, accomplished, or achieved. Forward-looking statements within this Form 10-Q speak only as of the date of its filing, and we undertake no obligation to update any such statements to reflect changes in events or circumstances that may subsequently occur. Users of this Form 10-Q are cautioned that various factors may cause actual results to differ materially from

View Full Filing

View this 10-Q filing on SEC EDGAR