Photronics (NASDAQ:PLAB) reported fiscal first-quarter results Wednesday that surpassed analyst projections, fueled by continued momentum in high-end semiconductor manufacturing.
The Brookfield, Connecticut-based company posted revenue of $225.1 million, a 6.1% increase year-over-year, beating the consensus estimate of $220.8 million.
Net income for the period was $42.9 million, or $0.74 per diluted share.
After adjusting for non-recurring gains, the company reported earnings of $0.61 per share, comfortably ahead of the $0.54 per share expected by Wall Street.
The performance was anchored by the Integrated Circuit (IC) segment, which generated $165.3 million in revenue as chipmakers accelerated node migrations and AI-driven technology investments.
Despite the strong start to the year, the company’s outlook for the second quarter ending in April was more conservative.
Photronics expects revenue to range between $212 million and $220 million, with per-share earnings projected between $0.49 and $0.55.
The guidance suggests a potential sequential slowdown in the Flat Panel Display (FPD) segment and continued inventory normalization in mainstream IC markets.