Photronics Beats on Top and Bottom Lines (PLAB)

Photronics Inc.

reports Q3 EPS of $0.13 versus estimates of $0.09. Photronics Inc. (

) reports Q3 revenues of $112.3 million versus estimates of $108.37 million. The company said that high-end FPD and IC photomask sales increased sequentially 50% and 13%, respectively. Total revenues increased 18% year over year. Constantine ("Deno") Macricostas, Photronics' chairman and chief executive officer, commented, "We exceeded our guidance range for both sales and non-GAAP net income for the third quarter of fiscal 2010. Third quarter sales improved 7% from the sequential second quarter of fiscal 2010 as a result of increased demand for high-end integrated circuit and flat panel photomasks. The strength in demand at the high-end for both FPD and IC photomasks continues to validate our strategy to deploy capital in these high growth markets.” "Looking forward, we plan to increase market share in the U.S. and Asia and maintain our top- and bottom-line growth momentum. We will continue to invest in advanced capabilities while leveraging our leading-edge technology, exceptional customer service and manufacturing cost efficiency to capitalize on the significant opportunities with preeminent global memory and logic customers," concluded Macricostas. Shares of PLAB did not trade in the after-hours as of the time of this writing.