BROOKFIELD, Conn.--(BUSINESS WIRE)--
Photronics, Inc. (NASDAQ:PLAB), a worldwide leader in supplying
innovative imaging technology solutions for the global electronics
industry, announced preliminary financial results for the fourth quarter
of fiscal 2012.
Photronics expects revenues for the fourth quarter ended October 28,
2012 will be in the range of $102 million to $103 million compared with
previous guidance announced on August 15, 2012 of $114 million to $118
million. As a result of the lower revenue, Photronics expects that
earnings per diluted share for the fourth fiscal quarter will be in the
range of $0.03 to $0.04 compared with previous guidance in the range of
$0.14 to $0.17. Photronics plans to provide guidance for the first
quarter of fiscal 2013 during its regularly scheduled fourth quarter and
full year fiscal 2012 financial results conference call scheduled for
December 5, 2012.
"We expect that our fourth quarter revenue and EPS will be lower than
previously anticipated as a result of decreased demand for both
integrated circuit (IC) and flat panel display (FPD) photomasks in a
challenging global economic and electronics industry environment,"
stated Constantine ("Deno") Macricostas, Photronics' chairman and chief
executive officer. "The slowdown in demand for semiconductors and flat
panel displays coupled with a cautious outlook among manufacturers
affected photomask orders in the quarter. Our results reflect a general
softness in end market consumer devices and its near term effects on new
designs for IC and FPD components. Based on our strong market position
and favorable long term trends in electronic devices, we continue to be
positive about the future opportunities for Photronics."
Photronics plans to announce its fiscal fourth quarter and full year
fiscal 2012 financial results at 4:30 p.m. Eastern Time on Tuesday,
December 4, 2012 and host a conference call with investors to discuss
these results at 8:30 a.m. Eastern Time on Wednesday, December 5, 2012.
The live dial-in number is (408) 774-4601. The call can also be accessed
by logging onto Photronics' web site at www.photronics.com.
Photronics
is a leading worldwide manufacturer of photomasks.
Photomasks are high precision quartz plates that contain microscopic
images of electronic circuits. A key element in the manufacture of
semiconductors and flat panel displays, photomasks are used to transfer
circuit patterns onto semiconductor wafers and flat panel substrates
during the fabrication of integrated circuits, a variety of flat panel
displays and, to a lesser extent, other types of electrical and optical
components. They are produced in accordance with product designs
provided by customers at strategically located manufacturing
facilities in Asia, Europe, and North America. Additional
information on the Company can be accessed at www.photronics.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements made by or on behalf of
Photronics, Inc. and its subsidiaries (the Company). The forward-looking
statements contained in this press release and other parts of
Photronics' web site involve risks and uncertainties that may affect the
Company's operations, markets, products, services, prices, and other
factors. These risks and uncertainties include, but are not limited to,
economic, competitive, legal, governmental, and technological factors.
Accordingly, there is no assurance that the Company's expectations will
be realized. For a fuller discussion of the factors that may affect the
Company's operations, see "Forward Looking Statements" in the Company's
Quarterly and Annual Reports to the Securities and Exchange Commission
on Forms 10-Q and 10-K. The Company assumes no obligation to provide
revisions to any forward-looking statements.
13-2012
PLAB — E
Photronics, Inc.
Pete Broadbent, (203) 775-9000
Vice
President, Investor Relations & Marketing
pbroadbent@photronics.com
Source: Photronics, Inc.
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