Photronics Announces Preliminary Financial Results for the Fourth Quarter of Fiscal 2012

  Photronics Announces Preliminary Financial Results for the Fourth Quarter of
  Fiscal 2012

Business Wire

BROOKFIELD, Conn. -- October 31, 2012

Photronics, Inc. (NASDAQ:PLAB), a worldwide leader in supplying innovative
imaging technology solutions for the global electronics industry, announced
preliminary financial results for the fourth quarter of fiscal 2012.

Photronics expects revenues for the fourth quarter ended October 28, 2012 will
be in the range of $102 million to $103 million compared with previous
guidance announced on August 15, 2012 of $114 million to $118 million. As a
result of the lower revenue, Photronics expects that earnings per diluted
share for the fourth fiscal quarter will be in the range of $0.03 to $0.04
compared with previous guidance in the range of $0.14 to $0.17. Photronics
plans to provide guidance for the first quarter of fiscal 2013 during its
regularly scheduled fourth quarter and full year fiscal 2012 financial results
conference call scheduled for December 5, 2012.

“We expect that our fourth quarter revenue and EPS will be lower than
previously anticipated as a result of decreased demand for both integrated
circuit (IC) and flat panel display (FPD) photomasks in a challenging global
economic and electronics industry environment,” stated Constantine ("Deno")
Macricostas, Photronics' chairman and chief executive officer. “The slowdown
in demand for semiconductors and flat panel displays coupled with a cautious
outlook among manufacturers affected photomask orders in the quarter. Our
results reflect a general softness in end market consumer devices and its near
term effects on new designs for IC and FPD components. Based on our strong
market position and favorable long term trends in electronic devices, we
continue to be positive about the future opportunities for Photronics.”

Photronics plans to announce its fiscal fourth quarter and full year fiscal
2012 financial results at 4:30 p.m. Eastern Time on Tuesday, December 4, 2012
and host a conference call with investors to discuss these results at 8:30
a.m. Eastern Time on Wednesday, December 5, 2012. The live dial-in number is
(408) 774-4601. The call can also be accessed by logging onto Photronics' web
site at www.photronics.com.

Photronics is a leading worldwide manufacturer of photomasks. Photomasks are
high precision quartz plates that contain microscopic images of electronic
circuits. A key element in the manufacture of semiconductors and flat panel
displays, photomasks are used to transfer circuit patterns onto semiconductor
wafers and flat panel substrates during the fabrication of integrated
circuits, a variety of flat panel displays and, to a lesser extent, other
types of electrical and optical components. They are produced in accordance
with product designs provided by customers at strategically located
manufacturing facilities in Asia, Europe, and North America. Additional
information on the Company can be accessed at www.photronics.com.

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor”
for forward-looking statements made by or on behalf of Photronics, Inc. and
its subsidiaries (the Company). The forward-looking statements contained in
this press release and other parts of Photronics’ web site involve risks and
uncertainties that may affect the Company’s operations, markets, products,
services, prices, and other factors. These risks and uncertainties include,
but are not limited to, economic, competitive, legal, governmental, and
technological factors. Accordingly, there is no assurance that the Company’s
expectations will be realized. For a fuller discussion of the factors that may
affect the Company's operations, see "Forward Looking Statements" in the
Company's Quarterly and Annual Reports to the Securities and Exchange
Commission on Forms 10-Q and 10-K. The Company assumes no obligation to
provide revisions to any forward-looking statements.

13-2012

PLAB – E

Contact:

Photronics, Inc.
Pete Broadbent, (203) 775-9000
Vice President, Investor Relations & Marketing
pbroadbent@photronics.com
 
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