Photronics

(PLAB) - Get Report

dropped nearly 13% this week after the company's pro forma profits fell and its results missed analyst estimates. Photronics, which makes photomasks used in semiconductor manufacturing, said it earned $2.5 million, or 8 cents a share, in the second quarter, down from earnings of 32 cents a share a year ago. Analysts polled by Thomson Financial/First Call expected the company to earn 10 cents. Revenue was up 2.5% to $103.1 million from $100.6 million a year ago, but the company said future visibility remains limited despite "pockets of improvement."