Market Softness Affects Photomask Demand

  • Photronics reports a rise in profit for fiscal third quarter
  • Revenue falls due to market softness in some segments
  • Profit of $34.4 million or 55 cents per share
  • Adjusted earnings at 51 cents per share, below analyst expectations of 56 cents
  • Revenue down 6% to $211 million
  • Integrated Circuit unit sales down 4% to $155.9 million
  • Flat Panel Display revenue down 10% at $55.1 million
  • Photomask demand affected by market softness
  • Fourth quarter revenue forecast between $213-$221 million, adjusted earnings $0.48-$0.54 per share

Photronics, a semiconductor photomask manufacturer, has reported an increase in profit for the fiscal third quarter, with earnings rising to $34.4 million or 55 cents per share compared to $27 million or 44 cents a share in the same period last year. However, revenue fell by 6% to $211 million, missing analyst expectations of $225 million. The Integrated Circuit unit sales dropped by 4% to $155.9 million and Flat Panel Display revenue decreased by 10% to $55.1 million. CEO Frank Lee attributed the decline to market softness affecting photomask demand. Photronics anticipates fourth quarter revenue between $213-$221 million and adjusted earnings of $0.48-$0.54 per share.

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Factuality Level: 9
Factuality Justification: The article provides accurate information about the company’s financial performance, including specific numbers and comparisons to previous quarters and analyst expectations. It also includes a statement from the CEO explaining the cause of the revenue decline. The information is relevant and objective without any sensationalism or personal opinions.
Noise Level: 6
Noise Justification: The article provides relevant financial information about the company’s performance but lacks in-depth analysis or exploration of long-term trends or consequences of decisions. It also does not offer actionable insights for readers.
Public Companies: Photronics (PLAB)
Key People: Frank Lee (Chief Executive)

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Financial Relevance: Yes
Financial Markets Impacted: Photronics’ stock price
Financial Rating Justification: The article discusses the company’s financial performance, including profit and revenue changes, as well as its future expectations for revenue and earnings. This directly pertains to financial topics and can impact the company’s stock price in financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.
Move Size: No market move size mentioned.
Sector: Technology
Direction: Up
Magnitude: Medium
Affected Instruments: Stocks

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