Photronics Earnings Meet Estimates, Revenue Beats

(RTTNews) - Photronics, Inc. (PLAB) Wednesday reported second quarter earnings of $10.53 million or $0.17 per share, higher than $6.28 million, or $0.10 per share in the year-earlier quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.17 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter increased 12 percent year-over-year to $159.76 million from $142.77 million last year, helped by growth in integrated circuit (IC) as well as flat panel display (FPD) revenue. The consensus estimate was for $158.27 million.

Looking forward to the third quarter, the company sees revenue in the range of $162 million to $172 million and earnings to be in the range of $0.19 per share and $0.25 per share.

Analysts expect the company to report earnings of $0.21 per share on revenue of $168.1 million in the third quarter.