Photronics Q3 Profit Rises; Revenue Up 29%

(RTTNews) - Photronics, Inc. (PLAB) reported third quarter net income attributable to shareholders of $31.2 million or $0.51 per share, compared with $17.1 million or $0.28 per share, a year ago.

Revenue was $219.9 million, up 29% compared with the same period of last year. Integrated circuit revenue was $161.3 million, up 37% from last year. Flat panel display revenue was $58.7 million, up 11%.

For the fourth quarter, Photronics expects revenue to be between $205 million and $215 million and net income attributable to shareholders to be between $0.44 and $0.52 per share.

Frank Lee, CEO, said: "We are expanding capacity and growing volumes while controlling costs and capitalizing on operating leverage to deliver higher margins. We are also taking pricing action where appropriate to capture the full value that we are delivering to our customers."

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