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 third quarter
of fiscal 2012.
Photronics expects revenues for the third quarter ended July 29, 2012,
will be approximately $116 million compared with previous guidance of
$118 million to $123 million. Photronics expects that earnings per
diluted share for the third fiscal quarter will be in the range of $0.14
to $0.16 compared with previous guidance in the range of $0.14 to $0.18.
Photronics plans to provide guidance for the fourth quarter of fiscal
2012 during its regularly scheduled third-quarter financial results
conference call on August 15, 2012.
Third quarter revenue is expected to be lower than previously
anticipated due to softening demand during the last few weeks of July
for high-end integrated circuit (IC) and flat panel display (FPD)
photomasks.
"The general worldwide softness in demand for semiconductors and
displays began to affect photomask orders especially high-end IC,
principally memory, during the past few weeks," stated Constantine
("Deno") Macricostas, Photronics' chairman and chief executive officer.
"Longer term, we believe that trends in devices, including mobile smart
phones, tablets and emerging new flat panel formats, will result in
strong photomask demand. We are well positioned with our lean and
flexible business model and high-end technology to maintain good margins
and respond quickly as the market strengthens again," concluded
Macricostas.
Photronics will announce its fiscal third quarter 2012 financial results
at 4:30 p.m. Eastern Time on Tuesday August 14, 2012 and host a
conference call with investors to discuss these results at 8:30 a.m.
Eastern Time on Wednesday, August 15, 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.
The call will be archived for instant replay access until the Company
reports its fiscal 2012 fourth quarter results.
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.
11-2012
PLAB — E
Photronics, Inc.
Pete Broadbent, 203-775-9000
Vice President,
Investor Relations & Marketing
pbroadbent@photronics.com
Source: Photronics, Inc.
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