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Blowout Quarter Lifts Photronics

Adjusted earnings of 27 cents a share are 7 cents ahead of estimates.
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Photronics

(PLAB) - Get Report

was poised to surge Wednesday after reporting second-quarter earnings that blew away estimates.

The semiconductor photomask maker earned $10.6 million, or 28 cents a share, in the quarter, compared with $6 million, or 17 cents a share, last year. Sales jumped 16% from a year ago to $112 million, reflecting strength in its manufacturing, sales and research divisions.

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Excluding costs, Photronics earned 27 cents a share, beating the Thomson First Call consensus estimate by 7 cents. Sales were about $7 million above estimates.

The stock was up $2.55, or 14.5%, to $20.04 on Instinet.