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
2013.
Photronics expects revenues for the fourth quarter ended November 3,
2013, will be in the range of $105 million to $106 million compared with
previous guidance announced on August 14, 2013, of $110 million to $114
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 $0.06 to $0.07 compared with previous guidance in the range of
$0.10 to $0.13. Photronics plans to provide guidance for the first
quarter of fiscal 2014 during its regularly scheduled fourth quarter and
full year fiscal 2013 financial results conference call scheduled for
December 11, 2013.
"We expect that our fourth quarter revenue and EPS will be lower than
previously anticipated as a result of a delay in fully completing the
qualification process with a key Asian foundry customer for new nodes in
our high-end integrated circuit (IC) photomasks. Additionally, our
high-end memory business was soft during the quarter. Our qualifications
for these customers are ongoing and we expect to see increased orders in
the new fiscal year," stated Constantine ("Deno") Macricostas,
Photronics' chairman and chief executive officer.
"Looking longer term, our investments in high-end photomask technology
position us to capitalize on the strong demand trends we expect to
experience in the coming year. We are confident in our ability to
deliver long-term growth and profitability," concluded Macricostas.
Photronics plans to announce its fiscal fourth quarter and full year
fiscal 2013 financial results at 4:30 p.m. Eastern Time on Tuesday,
December 10, 2013, and host a conference call with investors to discuss
these results at 8:30 a.m. Eastern Time on Wednesday, December 11, 2013.
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.
About Photronics
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 as
well as decisions we may make in the future regarding our business,
capital structure and other matters. 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.
2013 - 15
Photronics, Inc.
Pete Broadbent, 203-775-9000
Vice President,
Investor Relations & Marketing
pbroadbent@photronics.com
Source: Photronics, Inc.
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