Photronics Lifts Q2 Guidance; Stock Up 6%

(RTTNews) - Imaging technology solutions provider Photronics Inc (PLAB) on Monday said it now expects second-quarter revenues to be at the top end of its prior guidance, and raised its earnings expectations for the period. Photronics shares gained about 6% at $9.08 in after-hours on the Nasdaq.

The company now expects second-quarter revenues of about $127 million, from prior range of $121 million to $128 million; and projects earnings of $0.11 to $0.12 per share, from prior guidance of $0.04 to $0.09 per share.

Analysts polled by Thomson Reuters expect the company to report revenues of $126.2 million and earnings of $0.08 per share for the quarter.

"Increased demand for advanced memory photomasks and stronger shipments of FPD masks drove our revenues towards the high end of our guidance," said CEO Peter Kirlin.