Photronics Inc. posted lower fourth-quarter profits amid weakened demand for the Brookfield firm’s technology for making microchips and video monitors.
For three months ended Oct. 28, Photronics netted $3.8 million, or 6 cents a share, down from $9.3 million, or 14 cents a share, netted the same quarter a year ago.
The earnings were better than the 3 to 4 cents a share Photronics had forecast for the quarter.
Fourth-quarter revenues were $104.2 million vs. $122.2 million last year.
“Fourth quarter revenues reflect decreased demand for both integrated circuit and flat panel display photomasks during a challenging global economic and electronics industry environment,” Chairman and CEO Constantine (Deno) Macricostas said in a statement.
For fiscal 2012, Photronics netted $27.9 million, or 44 cents a share, up from $16.2 million, or 28 cents a share, earned in fiscal 2011.
Revenues were $450.4 million vs. $512 million last year.
