While reporting financial results for the first quarter on Wednesday, Photronics, Inc. (PLAB) provided its adjusted earnings and revenue guidance for the fourth quarter, in line with analysts' estimates.
For the fourth quarter, the company expects adjusted earnings in a range of $0.42 to $0.48 per share on revenues between $201 million and $209 million.
On average, analysts polled expect the company to report earnings of $0.42 per share on revenue of $206.8 million for the quarter. Analysts' estimates typically exclude special items.
The Board of Directors also authorized an increase of $25.0 million to the share repurchase authorization.
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