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Photronics Stock Jumps Nearly 8% After Q2 Profit Beats Estimates

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Shares of Photronics, Inc surged 8% after the photomask maker reported Q2 net income attributable to shareholders of $29.84M, nearly triple the prior’s year net income of $10.53M.

Source: Photronics

PLAB up +8.24%, ROG up +0.02%, Pre-market trading

The company’s revenue rose 28% to $204.51 million from the prior year’s $159.76 million. Analysts from Reuters were expecting revenues of $192.37 million for the quarter.

The company’s integrated circuit (IC) revenue in Q2 was $145.8 million, rising 12% sequentially and 30% compared with Q2 of last year. Flat-panel display (FPD) revenue fell 2% to $58.7M in Q2 from Q1.

The Brookfield, Connecticut-based company stated it had a profit of 49 cents per share.

For Q3, Photronics anticipates net income to be between $0.45 and 0.55 per share and revenue to be between $205 million and $215 million.

 

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