Photronics Inc. Files Q2 2024 10-Q Report

TL;DR

PHOT 10-Q filed for Q2 2024. Check financials.

AI Summary

Photronics Inc. filed its 10-Q for the period ending April 28, 2024, reporting on its financial performance. The company, based in Brookfield, CT, operates in the semiconductors and related devices industry. Key financial data and operational details for the quarter are presented in this filing.

Why It Matters

This filing provides investors and analysts with the latest financial health and operational performance of Photronics Inc., crucial for understanding its market position and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the semiconductor industry can be subject to cyclical demand and technological shifts.

Key Numbers

• 2024-04-28 — Reporting Period End (This is the end date for the financial data presented in the 10-Q.)
• 20240607 — Filing Date (The date the report was officially submitted to the SEC.)
• 10-31 2024 — Fiscal Year End (Indicates the end of the company's fiscal year.)

Key Players & Entities

• PHOTRONICS INC (company) — Filer
• 20240428 (date) — Reporting Period End Date
• 20240607 (date) — Filing Date
• Brookfield, CT (location) — Company Headquarters
• 3674 (industry_code) — Standard Industrial Classification

FAQ

Filing Documents

• ef20026297_10q.htm (10-Q) — 1897KB
• ef20026297_ex31-1.htm (EX-31.1) — 11KB
• ef20026297_ex31-2.htm (EX-31.2) — 11KB
• ef20026297_ex32-1.htm (EX-32.1) — 4KB
• ef20026297_ex32-2.htm (EX-32.2) — 4KB
• image00001.jpg (GRAPHIC) — 4KB
• 0001140361-24-029174.txt ( ) — 8411KB
• plab-20240428.xsd (EX-101.SCH) — 44KB
• plab-20240428_cal.xml (EX-101.CAL) — 61KB
• plab-20240428_def.xml (EX-101.DEF) — 214KB
• plab-20240428_lab.xml (EX-101.LAB) — 610KB
• plab-20240428_pre.xml (EX-101.PRE) — 381KB
• ef20026297_10q_htm.xml (XML) — 1600KB

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 10 Notes to Condensed Consolidated Financial Statements 11 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 26 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 34 PART II. OTHER INFORMATION 35 Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35 Item 3. Defaults Upon Senior Securities 35 Item 4. Mine Safety Disclosures 35 Item 5. Other Information 35 Item 6. Exhibits 36 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. 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 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 PDMCX Xiamen American Japan Photronics Mask Co., Ltd., a joint venture of Photronics and DNP Premium charges Price paid over and above standard mask price for special service such as priority cycle time or capacity allocation RMB Chinese r

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 "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 statements of historical facts. On occasion, in other documents filed with the SEC, press releases, conferences, or by other means, we may discuss, publish, disseminate, or otherwise make available, forward-looking statements, including statements contained within Part I, Item 2 – "Management's Discussion & Analysis of Financial Condition and Results of Operations" of this Form 10-Q. 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