The worldwide leader in innovative imaging technology products for the industry of global electronics disclosed its third quarter fiscal 2014 results, which dated until August 3, 2014.
Photronics reported a $124.9 million quarterly sales, which almost bettered the approximation and guidance of $120 to $125 million.
The chairman and chief executive officer of Photronics, Constantine Macricostas, stated that the first full quarter of the company mirrors the strong performance of the company along with the compounding of PDMC. During the quarter, completion of the 14 nm requirement of the firm is recorded along with Asian key metal works patron. Photronics is apparently reaping benefits from it major changes encompassing its expanded customer base.
The GAAP and non-GAAP diluted earnings per share (EPS) is $0.07, which reached the maximum of guidance range. A new quarter report high is set by Photronics as well with extensive IC returns of $36.6 million. Increase of 170 basepoints has been recorded for the gross margin of the firm. Improvement by 8.9% was registered for operating margin data. Lastly, the EBITDA record had an excess of $9 million, totaling $34 million.
The balance of the fiscal year reflects the significant performance of the company partnered with the management proper utilization of its investments.
Photronics general income from sales of $124.9 million is composed of semiconductor photomasks returns of $100.6 million (81% of total revenue) and flat panel display photomasks purchasing revenue of $24.3 million (19% of total revenue).
The sales of the company during the first nine-month period of the fiscal year rose by 4.8% (from $316.2 million in 2013 to $331.3 million). The same period also registered sales of $253.4 million for semiconductor photomasks returns along with FPD photomasks profit of $77.9 million. On the other hand, the GAAP net income is $0.34 for every diluted share ($21.7 million) and non-GAAP diluted earnings per share (EPS) is $0.13 per unrefined share ($7.8 million). The net income for the non-GAAP record does not include joint venture compensation and acquirement returns because they are not part of the current operations.
Photronic declared that the continued performance of the company can be evaluated by investors and analysts with the use of non-GAAP record, which can either be earnings per share of net income credited to the shareholders of the firm. The company attested that the figures are more solid in providing significant comparison in previous and preceding periods’ performance and earnings.