Photronics, Inc. (NASDAQ:PLAB) Q4 2023 Earnings Call Transcript

Chris Progler: I mean, overall, our EUV business continues to grow year-over-year and even quarter-over-quarter. The OEM side of that business is probably the strongest and then class of products we call fab products is also fairly strong, because there’s a lot of EUV scanners entering the industry. And then the third category, device masks, either prototype and demo mass, also growing. So consistent with ASML’s reports, we see a lot of strength in EUV and the merchant market gradually evolving up, and we’re in a pretty good position for that. As far as consortia, we’re still in discussions with various groups, you know, we’re pretty well plugged into the New York CREATES program, and they just announced a very large state-sponsored funding infusion into that project.

There’s also a consortium forming in Japan. We are starting to have conversations with as well around the Rapidus project. So nothing I think we can announce right now, but there’s two or three different avenues we’re pursuing now to join on to these consortia initiatives.

Tom Diffely: All right, well, great. Well, thank all three of you for your time today.

John Jordan: Thank you, Tom. Thanks very much for coming onto the call.

Operator: Thank you. [Operator Instructions] Ladies and gentlemen, there are no further questions at this time. I will now turn the call over to Frank Lee for closing comments.

Frank Lee: Thank you, Michelle. Thank you for joining us this morning. We performed well in 2023 and are positioned to continue this performance in 2024. Long-term, our end markets are expected to grow significantly. As the merchant photomask leader, we are in a great position to continue to outgrow the market, leveraging our competitive advantage to serve our growing global customers. I’m proud of our team’s performance in 2023, delivering record revenue and firmly establishing Photronics as the merchant photomask partner of choice. We are optimistic regarding our future growth opportunities and look forward to updating you as we make progress. Have a good day, and thank you.

Operator: Ladies and gentlemen, that concludes the conference call for today. We thank you for your participation and ask that you please disconnect your lines. Good day.

John Jordan: Thank you, Michelle.

Frank Lee: Thank you.

Operator: You’re very welcome.