Photronics Inc. (NASDAQ:PLAB) stock rose in Wednesday premarket trading after the company reported fiscal third-quarter results that beat Wall Street estimates.
Photronics Earnings and Sales Beat Estimates
Photronics reported adjusted earnings of 50 cents per share, beating the analyst consensus estimate of 40 cents. Earnings slipped from 51 cents per share a year earlier.
Sales rose 2.7% year over year to $216.047 million, beating the $208.840 million estimate, according to Benzinga Pro. Revenue also increased 2.9% sequentially.
GAAP net income attributable to Photronics shareholders rose to $28.9 million, or 49 cents per diluted share. That compared with $22.9 million, or 39 cents per share, a year earlier.
