Photronics ( PLAB) swung to a loss on lower revenue in its second quarter, due in part to a big restructuring charge.

The company, which makes equipment for the chip industry, said it lost $44.1 million, or $1.37 cents a share, in the quarter, including an after-tax restructuring charge of $39.9 million, or $1.24 a diluted share, to cover facility consolidation and some layoffs.

The company earned $2.5 million, or 8 cents a share. Revenue fell 17 percent to $85.5 million. Sales for the quarter were $85.5 million, down 17.1%, compared to $103.1 million for the second quarter in 2002.

Excluding items, the company lost 13 cents a share in the quarter, compared with net income per diluted share of $0.08 in the second quarter of 2002.

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