Profits, Sales Up as Photronics Ends Fiscal Year

Photronics Inc., a maker of photomasks for semiconductor and flat-panel display manufacturing, ended its fiscal year Nov. 2 with increased sales and profits.

Fiscal 2014 revenues were $455.5 million, up 7.9 percent from $422.2 million in fiscal 2013. Net income was $26.0 million, up 44.4 percent from $18.0 million in fiscal 2013.

CEO Constantine Macricostas said fourth-quarter sales were lower than expected, but that business is expected to increase in fiscal 2015.

Sales amounted to $124.3 million in the fourth quarter, up 17.3 percent from $106.0 million in the fourth quarter of fiscal 2013. Fourth-quarter earnings were $4.3 million, down 10.4 percent from $4.8 million in the same period the previous year.

For more information, visit www.photronics.com.