Photronics Results Top Estimates

(RTTNews) - Imaging technology solutions provider Photronics Inc (PLAB) on Monday reported second-quarter net earnings of $10 million or $0.14 per share. This compares with a profit of $15.5 million or $0.22 per share last year, when it had one-time acquisition gains.

Revenues for the quarter were up at $127.3 million compared with $104.9 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.10 per share on revenues of $127 million for the quarter. Analysts' estimates typically exclude special items.

"High-end semiconductor sales led by increased demand for memory photomasks helped us achieve revenues near the high end of our expectations for the quarter," said CEO Peter Kirlin.

The company's strong results were anticipated as recently it lifted its expectations for the second quarter, citing robust demand for advanced memory photomasks and stronger shipments of FPD masks.