Like FreeType, T1Lib supports bounding boxes
Bounding Boxes for a given PostScript string/font is done using the imagepsbbox() function.

imagepsbbox($string, $font_r, $size [, $spacing, $char_spacing, $angle]);

This function will provide an array indicating the coordinates of the lower-left and upper-right corners of the bounding box.

<?php

    $font = imagepsloadfont('/usr/share/fonts/default/Type1/n019003l.pfb');
    $text = "PHP Developer's Handbook";
    $size = 10;
    
    echo "<PRE>";
    print_r(imagepsbbox($text, $font, $size));
    echo "</PRE>";
    
    imagepsfreefont($font);
    
?>
Output