Photronics Q1 Earnings Beat View, But Revenues Miss - Quick Facts

(RTTNews) - Photronics Inc. (PLAB), a supplier of imaging technology solutions for the electronics industry, reported Thursday that its first-quarter net income attributable to shareholders was $5.3 million or $0.08 per share, down from $5.9 million or $0.09 per share in the same period last year.

Revenue for the quarter increased 1 percent to $124.7 million from $123.4 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.05 per share for the quarter on revenues of $125.1 million. Analysts' estimates typically exclude special items.

Integrated circuit or IC revenue for the quarter was $94.9 million, down 1 percent compared with last year. Flat panel display or FPD revenue was $29.8 million, up 7 percent from the year-ago period.

Looking ahead to the second quarter, Photronics expects revenue to be between $125 million and $135 million, and net income attributable to shareholders to be between $0.03 and $0.10 per share. The Street expects earnings of $0.10 per share for the quarter on revenues of $134.35 million.