16:25 PLAB Photronics guides Q4 down (18.73 +0.23)
Co announced today that it is revising Q4 revenue and earnings guidance; expects revenues for Q4 (Oct) of ~$110-112 mln, Reuters consensus is $118 mln, previous guidance was $115-121 mln. As a result, EPS is expected to be between $0.15-0.18 per diluted share, which includes a $0.01 charge, Reuters consensus is $0.29. Q4 performance was negatively impacted by a decline in forecasted demand primarily for mainstream products (180 nanometer and above) in N. America region during the latter part of the quarter. While each of the three regions Photronics serves experienced some unexpected softening for mainstream products, the effect on N. America was more pronounced as the Company has earned such a high share of this service driven business. Photronics believes that the major driver of lower photomask demand was that mainstream designs were held back from release by semiconductor companies experiencing high fab utilization on their current products.