Shares of photomask products and services provider Photronics, Inc. (PLAB) are up nearly 4% in the morning trade on Wednesday after reporting better-than-expected second-quarter results. The company’s third-quarter outlook also is better than the Street view.
Net income in the second quarter was $29.84 million or $0.49 per share that nearly tripled from last year’s $10.53 million $0.17 per share, helped by revenue growth.
Revenue for the quarter increased 28% year-over-year to $204.51 million.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.35 per share on revenue of $192.37 million.
For the third quarter,, Photronics expects revenue to be between $205 million and $215 million, and EPS to be in the range $0.45-$0.55. The consensus estimate for earnings is at $0.37 per share and for revenue is at $196.4 million.
PLAB, currently at $15.64, has traded in the range of $11.65-$20.30 in the past 52 weeks.
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