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Photronics Q2 Profit Tops Estimates; Sees Q3 Results Above Market

Semiconductor photomask maker Photronics, Inc. (PLAB) reported Wednesday that its second-quarter net income attributable to shareholders was $29.84 million or $0.49 per share, nearly triple the prior year's net income of $10.53 million or $0.17 per share.

On average, three analysts polled by Thomson Reuters expected earnings of $0.35 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue was $204.51 million, up 28 percent from prior year's $159.76 million. Revenues grew 8 percent sequentially. Analysts estimated revenues of $192.37 million for the quarter.

For the third quarter, Photronics expects net income to be between $0.45 and $0.55 per share and revenue to be between $205 million and $215 million.

Analysts expect earnings of $0.37 per share on revenues of $196.4 million for the quarter.

In pre-market activity on Nasdaq, Photronics shares were gaining around 8 percent to trade at $16.25.

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