Photomask Demand Drives Jump in Profits at Photronics

Photronics Inc. increased profits considerably in fiscal 2015, citing strong demand for photomasks for integrated circuit and flat panel display manufacturing.

Net income for the fiscal year, which ended Nov. 1, was $56.9 million, or 63 cents per diluted share. That's up 77 percent from $32.0 million, or 41 cents per diluted share, in fiscal 2014. Revenues were $524.2 million, an increase of 15 percent from $455.5 million the previous year.

"High-end memory and flat panel display have been strong all year, and those trends continued through the fourth quarter," said CEO Peter Kirlin. "High-end logic also contributed as customers introduced new designs at advanced nodes."

Photomasks are 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 fabrication.

For more information, visit www.photronics.com.