Brookfield technology firm Photronics Inc. posted flat earnings on lower sales in the fiscal third quarter due to ongoing softness in global demand for microchips.
For three months ended July 29, Photronics said Wednesday it netted $11 million, or 16 cents a diluted share, down from $11.3 million, or 16 cents a share, the comparable period a year ago.
Third-quarter sales fell to $116.6 million vs. $135.9 million last year.
Actual sales and profits were in line with Photronics’ downward quarterly performance estimate disclosed a week ago.
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Photronics’ specialty is making delicate photomasks used to imprint microcircuitry onto silicon wafers that power a wide range of electronics.
