Photronics Inc. (PLAB) shares plummeted 5.31% in pre-market trading on Wednesday, following the release of the company's fiscal first-quarter 2025 results and guidance for the second quarter.
For the first quarter ended February 2, 2025, Photronics reported revenue of $212.1 million, slightly below analysts' expectations of $225 million. However, non-GAAP net income came in at $0.52 per diluted share, surpassing the consensus estimate of $0.47.
The company's outlook for the fiscal second quarter appears to have disappointed investors. Photronics expects revenue in the range of $208 million to $216 million and non-GAAP net income attributable to shareholders between $0.44 and $0.50 per diluted share. Analysts had anticipated higher revenue of $225 million and non-GAAP EPS of $0.52 for the upcoming quarter.
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