<SEC-DOCUMENT>0001206774-11-002460.txt : 20111109
<SEC-HEADER>0001206774-11-002460.hdr.sgml : 20111109
<ACCEPTANCE-DATETIME>20111109074526
ACCESSION NUMBER:		0001206774-11-002460
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20111108
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20111109
DATE AS OF CHANGE:		20111109

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:		111189600

	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
<SEQUENCE>1
<FILENAME>photronics_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman">UNITED STATES<br>
</font></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></div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;</font></font></div>

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

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="3" style="FONT-FAMILY: Times New Roman">CURRENT REPORT<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Pursuant To Section 13 Or 15(d) Of The Securities Exchange Act Of 1934</font></font></div>

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<table border="0" cellpadding="0" cellspacing="0" width="10%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
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<td align="left" nowrap width="89%"><font size="2" style="FONT-FAMILY: times new roman">Date of report (Date of earliest event reported)&#160; </font></td>
<td nowrap width="10%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;November 8, 2011&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></td>
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<div align="center">
<table border="0" cellpadding="0" cellspacing="0" width="20%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
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<td width="100%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">PHOTRONICS, INC.</font></font></td>
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<td nowrap width="100%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;(Exact name of registrant as specified in its charter)&#160;&#160;&#160;</font></td>
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</div>

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<div align="center">
<table border="0" cellpadding="0" cellspacing="0" width="50%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
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<td nowrap width="23%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Connecticut</font></font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap width="32%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">0-15451</font></font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap width="40%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">06-0854886</font></font></td>
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<td nowrap width="23%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">(State or other jurisdiction</font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="32%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">(Commission</font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="40%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">(IRS Employer</font></td>
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<td nowrap width="23%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">of incorporation)</font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="32%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">File Number)</font></td>
<td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="40%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Identification Number)</font></td>
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</div>

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<div align="center">
<table border="0" cellpadding="0" cellspacing="0" width="10%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
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<td nowrap width="63%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">15 Secor Road, Brookfield, CT</font></font></td>
<td nowrap width="18%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
<td nowrap width="19%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;06804&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></td>
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<td nowrap width="63%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">(Address of Principal Executive Offices)</font></td>
<td nowrap width="18%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="19%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">(Zip Code)</font></td>
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</div>

<div align="left"><br>
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<div align="center">
<table border="0" cellpadding="0" cellspacing="0" width="10%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
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<td align="left" nowrap width="72%"><font size="2" style="FONT-FAMILY: times new roman">Registrant's Telephone Number, including area code</font></td>
<td align="right" nowrap width="4%">&#160;</td>
<td nowrap width="23%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;(203) 775-9000&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></td>
</tr></table>

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<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
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<td nowrap width="100%" style="BORDER-TOP: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">(Former name or former address, if changed since last report)</font></td>
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</div>

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</div>

<div><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></div>

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<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
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<td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: wingdings">o &#160; </font></td>
<td valign="top" width="99%" style="TEXT-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></td>
</tr><tr valign="bottom">
<td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
<td valign="top" width="99%" style="TEXT-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></td>
</tr><tr valign="bottom">
<td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
<td valign="top" width="99%" style="TEXT-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></td>
</tr><tr valign="bottom">
<td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: wingdings">o</font></td>
<td valign="top" width="99%" style="TEXT-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></td>
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</div>

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<td align="left" nowrap valign="top" width="3%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Item 2.02</font></font></font></td>
<td align="left" valign="top" width="1%">&#160;&#160;&#160;&#160;&#160; </td>
<td align="left" valign="top" width="95%">
<div><font size="2" style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Results of Operations and Financial Condition<br>
</font></font>On November 8, 2011, the Company issued a press release announcing preliminary financial results for the fourth quarter of fiscal 2011. A copy of the press release is attached to this 8-K.</font></div>

<div>&#160;</div>

<div><font size="2" style="FONT-FAMILY: times new roman">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></div>
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<td align="left" nowrap valign="top" width="3%">&#160;</td>
<td align="left" valign="top" width="1%">&#160;</td>
<td align="left" valign="top" width="95%">&#160;</td>
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<td align="left" nowrap valign="top" width="3%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Item 9.01</font></font></font><font size="2" style="FONT-FAMILY: times new roman">.</font></td>
<td align="left" nowrap valign="top" width="1%">&#160;</td>
<td align="left" nowrap valign="top" width="95%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Financial Statements and Exhibits</font></font></font></td>
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<td align="left" colspan="3" nowrap valign="top" width="99%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; (d) Exhibits</font></td>
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<td align="right" nowrap valign="top" width="3%"><font size="2" style="FONT-FAMILY: times new roman">99.1</font></td>
<td align="left" nowrap valign="top" width="1%">&#160;</td>
<td align="left" nowrap valign="top" width="95%"><font size="2" style="FONT-FAMILY: times new roman">Press Release dated November 8, 2011</font></td>
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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">SIGNATURES</font></font></div>

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<div align="left"><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="left"><font size="2">&#160;</font></div>

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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: times new roman size="><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">PHOTRONICS, INC.</font></font></font></font></div>
</td>
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<td width="100%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">(Registrant)</font></td>
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<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
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<td align="left" nowrap width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">DATE:&#160; </font></font></td>
<td align="left" nowrap width="8%" style="BORDER-BOTTOM: #000000 1pt solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">November 8, 2011</font></font></td>
<td align="left" nowrap width="40%">&#160;</td>
<td align="left" nowrap width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">BY&#160; </font></font></td>
<td align="left" nowrap width="49%" style="BORDER-BOTTOM: #000000 1pt solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">/s/ <font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: times new roman">Richelle E. Burr</font></font></font></font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="8%">&#160;</td>
<td align="left" nowrap width="40%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: times new roman">Richelle E. Burr</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="2%">&#160;</td>
<td align="left" nowrap width="8%">&#160;</td>
<td align="left" nowrap width="40%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: times new roman">Vice President, General Counsel</font></td>
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<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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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>PRESS RELEASE DATED NOVEMBER 8, 2011
<TEXT>
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<div>&#160;</div>

<div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="4" style="FONT-WEIGHT: normal; FONT-FAMILY: times new roman">Press Release</font></font></font></div>
</td>
<td align="right" valign="bottom" width="50%" style="BORDER-BOTTOM: black 1pt solid">
<div align="right"><font 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 style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman"> <br>
</font></font><font size="2" style="FONT-FAMILY: times new roman">Sean T. Smith<br>
</font><font size="2" style="FONT-FAMILY: times new roman">Senior Vice President<br>
</font><font size="2" style="FONT-FAMILY: times new roman">Chief Financial Officer<br>
</font><font size="2" style="FONT-FAMILY: times new roman">(203) 775-9000<br>
</font><font size="2" style="FONT-FAMILY: times new roman">ssmith@photronics.com</font><font size="2" style="FONT-FAMILY: times new roman"> </font></div>
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<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="3" style="FONT-FAMILY: Times New Roman">PHOTRONICS ANNOUNCES PRELIMINARY FINANCIAL RESULTS<br>
FOR THE FOURTH QUARTER OF FISCAL 2011</font></font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">BROOKFIELD, Connecticut November 8, 2011 -- </font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Photronics, Inc.</font></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, </font><font size="2" style="FONT-FAMILY: Times New Roman">announced preliminary financial results for the fourth quarter of fiscal 2011.</font></div>

<div>&#160;</div>

<div align="justify">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">Photronics expects revenues for the fourth quarter ended October 30, 2011, will be in the range of $120 million to $122 million compared with previous guidance of $125 million to $130 million. As a result of the lower revenue, Photronics expects that earnings per share for the fourth quarter ended October 30, 2011 will be in the range of $0.11 to $0.13 compared with previous guidance in the range of $0.14 to $0.18 per share. Photronics plans to provide guidance for the first quarter of fiscal 2012 during its regularly scheduled fourth-quarter financial results conference call on December 7, 2011. </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>Fourth quarter revenue is expected to be lower than anticipated due to customers scaling back purchases in response to increased softness in both the integrated circuit and flat panel display markets. The company had anticipated a modest slowdown of orders for mainstream IC and FPD photomasks, but did not expect the weakness to continue throughout the quarter. In addition, late in the quarter, Photronics experienced a similar and unexpected slowdown in high-end IC orders. The company noted that fourth quarter FPD sales declined more significantly than IC orders. For the full fiscal year 2011, Photronics expects to report record annual sales for both IC and FPD photomasks.</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>&#8220;Although we expect that sales in the fourth quarter will be lower than anticipated in this soft demand environment, we believe Photronics is maintaining market share,&#8221; stated Constantine ("Deno") Macricostas, Photronics&#8217; chairman and chief executive officer. &#8220;In addition, should the market experience prolonged softness, we are well prepared to implement cost-reduction initiatives to further streamline our operating structure and minimize the effect on our operating results without compromising our market share gains.&#8221; </font></div>

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<div align="justify">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: Times New Roman">&#8220;Longer term, we believe the trend toward the proliferation of new devices, including smart phones and tablets, are strongly in our favor. Our investments in high-end photomask technology position us to capitalize on these demand trends and deliver long-term growth and profitability,&#8221; concluded Macricostas. </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>Photronics will announce its fiscal fourth quarter and full year 2011 financial results and host a conference call with investors and the media to discuss these results at 8:30 a.m. Eastern Time on Wednesday, December 7, 2011. The live dial-in number is (408) 774-4601. The call can also be accessed by logging onto Photronics&#8217; web site at </font><font size="2" style="FONT-FAMILY: Times New Roman">www.photronics.com</font><font size="2" style="FONT-FAMILY: Times New Roman">. </font></div>

<div>&#160;</div>

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

<div>&#160;</div>

<div align="justify"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">Photronics</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> is a leading worldwide manufacturer of </font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">photomasks</font></font><font size="2" style="FONT-FAMILY: Times New Roman">. 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 </font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: Times New Roman">manufacturing facilities</font></font><font size="2" style="FONT-FAMILY: Times New Roman"> in Asia, Europe, and North America. Additional information on the Company can be accessed at </font><font size="2" style="FONT-FAMILY: Times New Roman">www.photronics.com</font><font size="2" style="FONT-FAMILY: Times New Roman">.</font></div>

<div>&#160;</div>

<div align="justify"><font size="2" 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 filed with the Securities and Exchange Commission on Forms 10-Q and 10-K. The Company assumes no obligation to provide revisions to any forward-looking statements.</font></div>

<div>&#160;</div>

<div align="left"><font size="2" style="FONT-FAMILY: Times New Roman">18-2011 </font></div>

<div>&#160;</div>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
