PLAB - Photronics shares slump after soft Q2 profit guidance

Photronics (PLAB) down 5.5% after the company reported soft second quarter results with in-line guidance.Q2 revenue was up 12% on the year to $159.8M, about $1.5M ahead of analyst estimates. EPS was $0.17, matching consensus.Integrated circuit ((IC)) sales were up 7% on the quarter and 16% Y/Y to $112M. Flat panel display sales increased 1% on the quarter and 4% on the year.For Q3, Photronics forecasts revenue of $162-172M versus the $168.1M consensus and diluted EPS of $0.19-0.25 vs. the $0.21 estimate.Earnings press release.

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Photronics shares slump after soft Q2 profit, guidance