Shares of photomask technology and solutions provider Photronics Inc. (NASDAQ:PLAB) are on the rise today after the company announced second-quarter numbers.
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Revenue rose 12.1% year-over-year to $229.3 million, outperforming estimates by $18.3 million. EPS at $0.54 too landed past expectations by about $0.10. The company is seeing robust IC and FPD demand with gains in FPD coming from AMOLED for advanced mobile displays. Further, favorable mix and pricing, coupled with volume leverage and cost control helped the company drive margins during this period.
Looking ahead, for the third quarter, Photronics expects revenue to range between $224 million and $234 million. EPS for the period is anticipated between $0.48 and $0.54.
After rising about 15% over the past month, Photronic shares are up a further 10.4% at the time of publishing today.
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