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<SEC-DOCUMENT>0001206774-11-000224.txt : 20110209
<SEC-HEADER>0001206774-11-000224.hdr.sgml : 20110209
<ACCEPTANCE-DATETIME>20110209065632
ACCESSION NUMBER:		0001206774-11-000224
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20110209
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110209
DATE AS OF CHANGE:		20110209

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHOTRONICS INC
		CENTRAL INDEX KEY:			0000810136
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				060854886
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-15451
		FILM NUMBER:		11584375

	BUSINESS ADDRESS:	
		STREET 1:		15 SECOR ROAD
		STREET 2:		PO BOX 5226
		CITY:			BROOKFIELD
		STATE:			CT
		ZIP:			06804
		BUSINESS PHONE:		2037759000

	MAIL ADDRESS:	
		STREET 1:		15 SECOR ROAD
		STREET 2:		P O BOX 5226
		CITY:			BROOKFIELD
		STATE:			CT
		ZIP:			06804

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHOTRONIC LABS INC
		DATE OF NAME CHANGE:	19900514
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<FILENAME>photronics_8k.htm
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<br>
<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">UNITED STATES <br>
</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman">SECURITIES AND EXCHANGE COMMISSION <br>
Washington, D.C. 20549</font></font><font style="FONT-FAMILY: times new roman"> </font></div>

<div>&#160;</div>

<div align="center">_________________________</div>

<div>&#160;</div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="5" style="FONT-FAMILY: times new roman">FORM 8-K</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: times new roman"> </font></font></div>

<div>&#160;</div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: times new roman">CURRENT REPORT<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: times new roman">Pursuant To Section 13 Or 15(d) Of The Securities Exchange Act Of 1934 </font></font></div>

<div>&#160;</div>

<div align="center"><img src="photronics_8kx4x1.jpg" alt=""></div>

<div>&#160;</div>

<div align="center"><font style="FONT-FAMILY: times new roman">Date of report (Date of earliest event reported)&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;February 9, 2011&#160;&#160;&#160;</font></font></font></div>

<div>&#160;</div>

<div>
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<tr valign="bottom">
<td width="49%">&#160;</td>
<td width="1%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: times new roman">PHOTRONICS, INC.</font></font> </td>
<td width="50%">&#160;</td>
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<td nowrap width="49%">&#160;</td>
<td nowrap width="1%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman">(Exact name of registrant as specified in its charter)</font></td>
<td nowrap width="50%">&#160;</td>
</tr></table>
</div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
<td nowrap width="36%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Connecticut</font></td>
<td nowrap width="1%" style="PADDING-BOTTOM: 2px">&#160;&#160;&#160;&#160;&#160; </td>
<td nowrap width="26%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">0-15451</font></td>
<td nowrap width="1%" style="PADDING-BOTTOM: 2px">&#160;&#160;&#160;&#160;&#160;&#160; </td>
<td nowrap width="35%" style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">06-0854886</font></td>
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<td nowrap width="26%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman">(Commission</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="35%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman">(IRS Employer</font></td>
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<td nowrap width="36%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman">of incorporation)</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="26%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman">File Number)</font></td>
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<td nowrap width="35%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman">Identification Number)</font></td>
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<div>&#160;</div>

<div align="center">
<table border="0" cellpadding="0" cellspacing="0" width="70%" style="">
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<td nowrap width="61%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">15 Secor Road, Brookfield, CT</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td nowrap width="37%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">06804</font></td>
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<td nowrap width="61%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman">(Address of Principal Executive Offices)</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="37%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman">(Zip Code)</font></td>
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<div align="center"><font style="FONT-FAMILY: times new roman">Registrant's Telephone Number, including area code&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160; (203) 775-9000&#160;&#160;</font></font></font></div>

<div>&#160;</div>

<div align="center">&#160;</div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
<td nowrap width="99%" style="BORDER-TOP: #000000 1pt solid; TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman">(Former name or former address, if changed since last report)</font></td>
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<td nowrap width="99%">&#160;&#160;</td>
</tr><tr>
<td nowrap width="99%" style="BORDER-BOTTOM: #ff0000 1pt solid">&#160; </td>
</tr></table>
</div>

<div>&#160;</div>

<div>
<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="2" style="FONT-FAMILY: times new roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font></font></div>

<div><font size="2" style="FONT-FAMILY: Times New Roman">&#160;</font></div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
<td nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
<td align="left" nowrap valign="top" width="1%">&#160;&#160;&#160;&#160;&#160; </td>
<td align="left" valign="top" width="98%">
<div align="justify"><font size="2" style="FONT-FAMILY: times new roman">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
</td>
</tr><tr valign="bottom">
<td nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
<td align="left" nowrap valign="top" width="1%">&#160;</td>
<td align="left" valign="top" width="98%">
<div align="justify"><font size="2" style="FONT-FAMILY: times new roman">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
</td>
</tr><tr valign="bottom">
<td nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
<td align="left" nowrap valign="top" width="1%">&#160; </td>
<td align="left" valign="top" width="98%">
<div align="justify"><font size="2" style="FONT-FAMILY: times new roman">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div>
</td>
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<td nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
<td align="left" nowrap valign="top" width="1%">&#160;</td>
<td align="left" valign="top" width="98%">
<div align="justify"><font size="2" style="FONT-FAMILY: times new roman">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
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<td colspan="3" nowrap width="100%" style="BORDER-BOTTOM: #ff0000 1pt solid">&#160;</td>
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<div align="justify">&#160;</div>
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<br>
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<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
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<br>
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<tr valign="bottom">
<td align="center" valign="top" width="3%"><font size="2" style="FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline">Item2.02</font></font></font></td>
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<td align="left" nowrap valign="top" width="10%" style="PADDING-BOTTOM: 1pt"><font size="2" style="FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Results of Operations and Financial Condition</font></font></td>
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<td align="left" nowrap valign="top" width="3%">&#160;</td>
<td align="left" nowrap valign="top" width="1%">&#160;</td>
<td align="left" valign="top" width="96%">
<div align="justify">
<div style="TEXT-ALIGN: justify"><font size="2" style="FONT-FAMILY: times new roman"><font size="2" style="FONT-FAMILY: times new roman"><font size="2" style="FONT-FAMILY: times new roman">On February 9, 2011, the Company issued a press release announcing that it </font><font size="2" style="FONT-FAMILY: times new roman">expects to exceed guidance for first quarter of fiscal 2011.</font></font></font></div>

<div><font size="2" style="FONT-FAMILY: times new roman">&#160;</font></div>

<div style="TEXT-ALIGN: justify"><font size="2" style="FONT-FAMILY: times new roman"><font size="2" style="FONT-FAMILY: times new roman"><font size="2" style="FONT-FAMILY: times new roman">A copy of the press </font><font size="2" style="FONT-FAMILY: times new roman">release is attached to this 8-K. A copy of the press release is furnished as Exhibit 99.1 to this report. The information contained in this Item 2.02 and the attached Exhibit 99.1 shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934 and shall not be incorporated by reference in any filing under the Securities Act of 1933 except as shall be expressly set forth by specific reference in such filing</font></font></font></div>

<div><font size="2" style="FONT-FAMILY: times new roman">&#160;</font></div>
</div>
</td>
</tr></table>
</div>

<div><font size="2" style="DISPLAY: inline; FONT-WEIGHT: bold">&#160; </font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
<td align="left" colspan="2" nowrap valign="top" width="2%"><font size="2" style="FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Item 9.01.</font></font></td>
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<td align="left" nowrap valign="top" width="96%"><font size="2" style="DISPLAY: inline; TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Financial Statements and Exhibits</font></font></td>
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<td nowrap width="1%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">&#160; (d)</font></td>
<td align="left" colspan="3" nowrap width="99%"><font size="2" style="FONT-FAMILY: times new roman">Exhibits</font></td>
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<td align="right" nowrap valign="top" width="1%">&#160;</td>
<td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: times new roman">99.1</font></td>
<td align="left" nowrap valign="top" width="2%">&#160;</td>
<td align="left" valign="top" width="96%">
<div align="justify"><font size="2" style="FONT-FAMILY: times new roman">Press Release dated February 9, 2011</font></div>
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</div>

<div align="center"><font size="2" style="DISPLAY: inline; FONT-WEIGHT: bold">&#160; </font></div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">&#160;</font></div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">SIGNATURES</font></font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-ALIGN: justify"><font size="2" style="FONT-FAMILY: Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">&#160;</font></div>

<div><font size="2" style="DISPLAY: inline; FONT-WEIGHT: bold">&#160; </font></div>

<div>
<div align="center">
<table border="0" cellpadding="0" cellspacing="0" width="40%" style="">
<tr valign="bottom">
<td nowrap width="100%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">PHOTRONICS, INC.</font></font></td>
</tr><tr valign="bottom">
<td width="100%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">(Registrant)</font></td>
</tr></table>
</div>

<div align="center">&#160;</div>

<div align="center">&#160;</div>

<div align="center"><font size="2" style="DISPLAY: inline; FONT-WEIGHT: bold">&#160; </font></div>

<div align="center"><font size="2" style="DISPLAY: inline; FONT-WEIGHT: bold">&#160; </font></div>

<div align="center"><font size="2" style="DISPLAY: inline; FONT-WEIGHT: bold">&#160; </font></div>

<div align="left"><font size="2" style="DISPLAY: inline; FONT-WEIGHT: bold">&#160; </font></div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
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<td align="left" nowrap width="3%"><font size="2" style="FONT-WEIGHT: bold">DATE:&#160; </font></td>
<td nowrap width="15%" style="BORDER-BOTTOM: 4px; TEXT-ALIGN: left"><font size="2" style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">February 9, 2011</font></font></font></td>
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<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">BY&#160; </font></font></td>
<td align="left" nowrap width="48%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-WEIGHT: bold; FONT-STYLE: italic"><font style="FONT-STYLE: normal">/s/</font> Richelle E. Burr</font></td>
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<td align="left" colspan="3" nowrap width="50%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="48%"><font size="2" style="FONT-FAMILY: times new roman">Richelle E. Burr</font></td>
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<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="48%"><font size="2" style="FONT-FAMILY: times new roman">Vice President, General Counsel</font></td>
</tr></table>
</div>

<font size="2" style="FONT-FAMILY: Times New Roman"><br>
</font>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
<td align="left" nowrap width="100%" style="BORDER-TOP: #ff0000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">PHOTRONICS, INC.</font></td>
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</div>

<div><font size="2" style="DISPLAY: inline; FONT-WEIGHT: bold">&#160; </font></div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibits99-1.htm
<DESCRIPTION>PRESS RELEASE DATED FEBRUARY 9, 2011
<TEXT>
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<body bgcolor="#ffffff">
<br>
<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr>
<td valign="top" width="50%"><img src="photronics_8kx4x1.jpg"></td>
<td align="right" valign="top" width="50%">
<div align="right"><font size="2" style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman; FONT-VARIANT: small-caps">For Further Information:</font></font><font size="2" style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman"> </font></font><br>
<font size="2" style="FONT-FAMILY: times new roman">Sean T. Smith<br>
Senior Vice President<br>
Chief Financial Officer<br>
(203)775-9000<br>
</font><font size="2" style="FONT-FAMILY: times new roman">ssmith@photronics.com</font></div>
</td>
</tr></table>
</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr>
<td width="100%" style="BORDER-BOTTOM: #000000 1pt solid">
<div align="left"><font size="2" style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">Press Release</font></font></font></div>
</td>
</tr></table>
</div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">PHOTRONICS EXPECTS TO EXCEED GUIDANCE FOR<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">FIRST QUARTER OF FISCAL </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">2011</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font></div>

<ul style="FONT-SIZE: 10pt">
<li><font size="2" style="FONT-FAMILY: Times New Roman">Company anticipates revenue in a range of $119 to $120 million with EPS between $0.17 and $0.19 per diluted share</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">FPD and IC high-end sales projected to increase sequentially</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">Photronics participation at Stifel Nicolaus Technology &amp; Telecom Conference to be webcast at 5:05 ET today at </font><font size="2" style="FONT-FAMILY: Times New Roman">www.photronics.com</font> </li>

<li><font size="2" style="FONT-FAMILY: Times New Roman">Company to announce full financial results after close of market on February 15</font> </li>
</ul>

<div align="justify">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">BROOKFIELD, Connecticut February 9, 2011 -- </font><font size="2" style="FONT-FAMILY: Times New Roman">Photronics, Inc.</font><font size="2" style="FONT-FAMILY: Times New Roman"> (NASDAQ:PLAB), </font><font size="2" style="FONT-FAMILY: Times New Roman">a worldwide leader in supplying innovative imaging technology solutions for the global electronics industry today announced preliminary financial results for the first quarter of fiscal 2011 ahead of its participation at the Stifel Nicolaus Technology &amp; Telecom Conference. The Company expects sales for the first quarter to be in a range of $119 to $120 million compared with the previously guided range of $107 to $111 million, and earnings per diluted share to be in a range of $0.17 to $0.19 compared with previous guidance of between $0.10 and $0.14.</font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Constantine (&#8220;Deno&#8221;) Macricostas, Photronics&#8217; chairman and chief executive officer commented, &#8220;We expect to exceed our guidance ranges for revenue and earnings as a result of strong demand for both IC and FPD photomasks, particularly at the high-end. IC sales were up even though the first quarter is typically seasonally slow due to holiday shutdowns. FPD revenues increased significantly on a sequential basis, especially at the high-end, which have high average selling prices. In addition to strength in demand, we experienced some pull-in of sales into the first quarter in Asia as a result of the Lunar New Year. We expect continued steady demand for high-end IC photomasks throughout 2011.&#8221;</font></div>

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<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The Company will provide guidance for the second-quarter of fiscal 2011 during its conference call to discuss these results. The Company expects to announce its full financial results after the close of the market on Tuesday, February 15, and hold a conference call to discuss those results at 8:30 a.m. ET on </font><font size="2" style="FONT-FAMILY: Times New Roman">Wednesday, February 16, 2011. The live dial-in number is (408) 774-4601. A live webcast of the call also can be accessed by logging onto Photronics&#8217; web site at www.photronics.com.</font></div>

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<div align="justify"><font size="1" style="FONT-FAMILY: Times New Roman">Photronics is a leading worldwide manufacturer of photomasks. Photomasks are high precision quartz plates that contain microscopic images of electronic circuits. A key element in the manufacture of semiconductors and flat panel displays, photomasks are used to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication of integrated circuits, a variety of flat panel displays and, to a lesser extent, other types of electrical and optical components. They are produced in accordance with product designs provided by customers at strategically located manufacturing facilities in Asia, Europe, and North America. Additional information on the Company can be accessed at www.photronics.com.</font></div>

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<div align="justify"><font size="1" style="FONT-FAMILY: Times New Roman">The Private Securities Litigation Reform Act of 1995 provides a &#8220;safe harbor&#8221; for forward-looking statements made by or on behalf of Photronics, Inc. and its subsidiaries (the Company). The forward-looking statements contained in this press release and other parts of Photronics&#8217; web site involve risks and uncertainties that may affect the Company&#8217;s operations, markets, products, services, prices, and other factors. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental, and technological factors. Accordingly, there is no assurance that the Company&#8217;s expectations will be realized. For a fuller discussion of the factors that may affect the Company's operations, see "Forward Looking Statements" in the Company's Quarterly and Annual Reports to the Securities and Exchange Commission on Forms 10-Q and 10-K. The Company assumes no obligation to provide revisions t
o any forward-looking statements.</font></div>

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<div style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: Times New Roman"># # #</font><font size="2" style="FONT-FAMILY: Times New Roman"> </font></div>

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<div align="justify"><font size="1" style="FONT-FAMILY: Times New Roman">03-2011 </font></div>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
