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PHOTRONICS Photronics Reports Second Quarter Fiscal 2021 Results May 26 , 2021 • Revenue was a record $ 159.8 million , up 5 % sequentially and 12 % year - over - year • Net income attributable to Photronics , Inc. shareholders was $ 10.5 million , or $ 0.17 per diluted share • Cash provided by operating activities was $ 31.9 million , capex was $ 56.0 million , share repurchases were $ 10.0 million , and ending cash balance was $ 256.0 million • Third quarter 2021 guidance : revenue between $ 162 and $ 172 million with diluted EPS between $ 0.19 and $ 0.25 BROOKFIELD , Conn . , May 26 , 2021 ( GLOBE NEWSWIRE ) -- Photronics , Inc. ( NASDAQ : PLAB ) , a worldwide leader in photomask technologies and solutions , today reported financial results for its fiscal 2021 second quarter ended May 2 , 2021 . Second quarter revenue was $ 159.8 million , up 5 % compared with the previous quarter and 12 % compared with the same quarter last year . Integrated circuit ( IC ) revenue was $ 112.0 million , up 7 % sequentially and 16 % compared with the second quarter of last year . Flat panel display ( FPD ) revenue was $ 47.8 million , up 1 % compared with last quarter and 4 % compared with the same period last year . Net income attributable to Photronics , Inc. shareholders was $ 10.5 million , or $ 0.17 per diluted share , compared with $ 8.0 million , or $ 0.13 per diluted share , for the first quarter of 2021 and $ 6.3 million , or $ 0.10 per diluted share , for the second quarter of 2020 . " We achieved record revenue in the quarter , with growth in both IC and FPD , demonstrating the strength and resiliency of our design - driven demand model , supported by world - class capabilities and unmatched global presence , " said Peter Kirlin , chief executive officer . " Our customers are responding to growing demand for their products , as they innovate to meet more advanced specifications . This creates an environment with strong design activity , driving mask demand across our business . As the largest merchant photomask manufacturer , we are well positioned to benefit from these trends . This ongoing market strength gives us confidence in meeting our long - term financial objectives as well as support for continued investment to expand capacity in our operations . Gross and operating margins expanded to 24.6 % and 13.0 % , respectively ; and we are solidly executing our 2021 plan to outperform our market and increase operating profit by 23 % . " Third Quarter 2021 Guidance For the third quarter of 2021 , Photronics expects revenue to be between $ 162 million and $ 172 million , and net income attributable to Photronics , Inc. shareholders to be between $ 0.19 and $ 0.25 per diluted share . Conference Call A conference call to discuss these results is scheduled for 8:30 a.m. Eastern time on Wednesday , May 26 , 2021. The call can be accessed by logging onto Photronics ' website at www.photronics.com . The live dial - in number is ( 877 ) 377-7095 or ( 408 ) 774-4601 outside of the United States and Canada . The call will be archived on Photronics ' website . About Photronics Photronics is a leading worldwide manufacturer of integrated circuit ( IC ) and flat panel display ( FPD ) photomasks . High precision quartz plates that contain microscopic images of electronic circuits , photomasks are a key element in the IC and FPD manufacturing process . Founded in 1969 , Photronics has been a trusted photomask supplier for over 50 years . As of October 31 , 2020 , the company had 1,728 employees . The company operates 11 strategically located manufacturing facilities in Asia , Europe , and North America . Additional information on the company can be accessed at www.photronics.com . Forward - Looking Statements Certain statements in this press release constitute " forward - looking statements ” within the meaning of the Private Securities Litigation Reform Act of 1995. The Private Securities Litigation Reform Act of 1995 provides a " safe harbor " for forward - looking statements made by or on behalf of the company and its subsidiaries . Such forward - looking statements involve known and unknown risks , uncertainties and other factors which may cause actual results , performance or achievements of Photronics to be materially different from any future results , performance or achievements expressed or implied by such forward - looking statements . Statements preceded by , followed by or that otherwise include the words " believes , " " expects , ” “ anticipates , ” “ intends , ” “ projects , " " estimates , ” “ plans , ” " " may increase , ” “ may fluctuate , ” “ will , ” “ should , ” “ would , ” “ may ” and " could " or similar words or expressions are generally forward - looking in nature and not historical facts . Any statements that refer to outlook , expectations or other characterizations of future events , circumstances or results are also forward - looking statements . Important risks , assumptions and other important factors that could cause future results to differ materially from those expressed in the forward - looking statements are specified in Photronics ' Annual and Quarterly filings with the Securities and Exchange Commission under headings such as " Forward - Looking Statements " , " Risk Factors " and " Management's Discussion and Analysis of Financial Condition and Results of Operations " and in other filings and furnishings made by Photronics with the Securities and Exchange Commission from time to time . These risks and uncertainties include , but are not limited to , the current pandemic