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Photronics Fiscal Q3 Adjusted Earnings Flat, Revenue Falls; Board Approves Upsizing Share Repurchases
2024-08-29 18:55
06:55 AM EDT, 08/29/2024 (MT Newswires) -- Photronics (PLAB) reported fiscal Q3 adjusted earnings Thursday of $0.51 per diluted share, unchanged from a year earlier.
One analyst polled by Capital IQ expected $0.56.
Revenue for the quarter ended July 28 was $211 million, compared with $224.2 million a year earlier.
One analyst surveyed by Capital IQ expected $225 million.
The company said it expects fiscal Q4 adjusted earnings of $0.48 to $0.54 per diluted share on revenue of $213 million to $221 million. One analyst polled by Capital IQ expects $0.54 on revenue of $220 million.
Photronics' board of directors also authorized an increase in the company's existing share repurchase program from the $31.7 million remaining up to a total of $100 million of its common stock.
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