Photronics, Inc. manufactures photomasks, which are high precision photographic quartz plates containing microscopic images of electronic circuits. The company’s photomasks are a key element in the manufacture of semiconductors and flat panel displays (FPDs), and are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication of integrated circuits (ICs) and various FPDs, and to a lesser extent, other types of electrical and optical components. The company supports customers across the spectrum of IC production and FPD technologies by manufacturing photomasks using electron beam or optical (laser-based) systems. The company owns various mature electron beam and laser-based systems. The company sells all of its photomasks to semiconductor designers, manufacturers, and foundries, as well as to other electronics manufacturers. Sales and Marketing The company conducts its sales and marketing activities primarily through a staff of full-time sales personnel and customer service representatives who work with the company's management and technical personnel. In addition to the sales personnel at the company's manufacturing facilities, the company has sales offices in the United States, Europe, and Asia. Customers The company primarily sells its products to major semiconductor and FPD manufacturers. During the year ended November 2, 2014, the company sold its products and services to approximately 600 customers. During the year ended November 2, 2014, the company's major customers included ASML Holding NV; AU Optronics Corp.; Dongbu HiTek Co. Ltd.; Global Foundries, Inc.; Himax Display, Inc.; Ili Technology Corp.; IM Flash Technologies, LLC; Innolux Corporation; Inotera Memories, Inc.; Intel Corporation; Jenoptik AG; LG Electronics, Inc.; Macronix International Company, Ltd.; Micron Technology, Inc.; Nanya Technology Corporation; Samsung Electronics Co., Ltd.; Semiconductor International Manufacturing Corp.; ST Microelectronics, Inc.; Texas Instruments Incorporated; and United Microelectronics Corp. Seasonality The company is impacted during its first quarter (year ending November 2014) by the North American and European holiday periods, as some customers reduce their effective workdays and orders during this period. Research and Development The company incurred research and development expenses of $21.9 million in the year ended November 2, 2014. Patents and Trademarks The company has ownership interests in approximately 50 issued U.S. patents. The expiration dates of these patents range from 2018 to 2030. The company also has various trademarks and trademark registrations in the United States and other countries. Competition The company’s competitors include Compugraphics International, Ltd.; DNP (outside of Taiwan); Hoya Corporation; SK-Electronics Co. Ltd.; Taiwan Mask Corporation; and Toppan Printing Co., Ltd. History Photronics, Inc., a Connecticut corporation, was founded in 1969.
photronics inc (PLAB:NASDAQ GS)
15 Secor Road
Brookfield, CT 06804
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