<SEC-DOCUMENT>0001206774-16-004473.txt : 20160212
<SEC-HEADER>0001206774-16-004473.hdr.sgml : 20160212
<ACCEPTANCE-DATETIME>20160212170540
ACCESSION NUMBER:		0001206774-16-004473
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20160210
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160212
DATE AS OF CHANGE:		20160212

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:		161420556

	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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<P align=center><B><FONT face="Times New Roman" size=2>UNITED
STATES<BR></FONT></B><B><FONT face="Times New Roman" size=2>SECURITIES AND
EXCHANGE COMMISSION<BR>Washington, D.C. 20549
<BR>____________________________</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=4>FORM 8-K</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>CURRENT
REPORT<BR></FONT></B><B><FONT face="Times New Roman" size=2>Pursuant To Section
13 Or 15(d) Of The Securities Exchange Act Of 1934</FONT></B><FONT face="Times New Roman"> <BR></FONT><BR><IMG src="photronics_8kx1x1.jpg" border=0>
</P>
<P align=center><FONT face="Times New Roman" size=2>Date of report (Date of
earliest event reported) </FONT><B><U><FONT face="Times New Roman" size=2>February 10, 2016</FONT></U></B></P>
<DIV align=center>
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  <TR>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="99%">
      <P align=center><B><FONT face="Times New Roman" size=2>PHOTRONICS,
      INC.</FONT></B></P></TD></TR>
  <TR>
    <TD noWrap style="text-align: center" width="99%">
      <P align=center><FONT face="Times New Roman" size=2>(Exact name of
      registrant as specified in its
charter)</FONT></P></TD></TR></TABLE></DIV><BR>
<DIV align=center>
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  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="33%"><B><FONT face="Times New Roman" size=2>Connecticut</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"><STRONG><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></STRONG></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="33%"><B><FONT face="Times New Roman" size=2>0-15451</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"><STRONG><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></STRONG></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="32%"><B><FONT face="Times New Roman" size=2>06-0854886</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="33%"><FONT face="Times New Roman" size=2>(State or other jurisdiction</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="33%"><FONT face="Times New Roman" size=2>(Commission</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;</TD>
    <TD noWrap style="text-align: center" width="32%"><FONT face="Times New Roman" size=2>(IRS
      Employer</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="33%"><FONT face="Times New Roman" size=2>of
      incorporation)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;</TD>
    <TD noWrap style="text-align: center" width="33%"><FONT face="Times New Roman" size=2>File
      Number)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="32%"><FONT face="Times New Roman" size=2>Identification Number)</FONT></TD></TR></TABLE></DIV><BR>
<DIV align=center>
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  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="77%"><B><FONT face="Times New Roman" size=2>15 Secor Road,
      Brookfield, CT</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"><STRONG><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></STRONG></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="21%"><B><FONT face="Times New Roman" size=2>06804</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="77%"><FONT face="Times New Roman" size=2>(Address of Principal Executive Offices)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;</TD>
    <TD noWrap style="text-align: center" width="21%"><FONT face="Times New Roman" size=2>(Zip
      Code)</FONT></TD></TR></TABLE></DIV><BR>
<P align=center><FONT face="Times New Roman" size=2>Registrant's Telephone
Number, including area code </FONT><B><U><FONT face="Times New Roman" size=2>(203) 775-9000</FONT></U></B><FONT face="Times New Roman"> </FONT></P>
<DIV align=center>
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  <TR>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="100%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>(Former name or former address, if changed since last
      report)</FONT></TD></TR>
  <TR>
    <TD noWrap style="text-align: center" width="100%"></TD></TR></TABLE></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>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 face="Times New Roman"></FONT></P>
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    <TD noWrap style="text-align: center" width="1%">
      <P><FONT face="Times New Roman" size=2>&#9744;&nbsp;</FONT></P></TD>
    <TD noWrap align=left width="99%">
      <P><FONT face="Times New Roman" size=2>Written communications pursuant to
      Rule 425 under the Securities Act (17 CFR 230.425)</FONT> </P></TD></TR>
  <TR>
    <TD noWrap style="text-align: center" width="1%">
      <P><FONT face="Times New Roman" size=2>&#9744;&nbsp;</FONT></P></TD>
    <TD noWrap align=left width="99%">
      <P><FONT face="Times New Roman" size=2>Soliciting material pursuant to
      Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT> </P></TD></TR>
  <TR>
    <TD noWrap style="text-align: center" width="1%">
      <P><FONT face="Times New Roman" size=2>&#9744;&nbsp;</FONT></P></TD>
    <TD noWrap align=left width="99%">
      <P><FONT face="Times New Roman" size=2>Pre-commencement communications
      pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</FONT> </P></TD></TR>
  <TR>
    <TD noWrap style="text-align: center" width="1%">
      <P><FONT face="Times New Roman" size=2>&#9744;&nbsp;</FONT></P></TD>
    <TD noWrap align=left width="99%">
      <P><FONT face="Times New Roman" size=2>Pre-commencement communications
      pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</FONT> </P></TD></TR></TABLE><BR>
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    <TD style="BORDER-TOP: #ff0000 1pt solid" noWrap align=left width="63%">
      <P align=left><FONT face="Times New Roman" size=2>&nbsp;</FONT></P></TD>
    <TD style="BORDER-TOP: #ff0000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-TOP: #ff0000 1pt solid" noWrap align=left width="35%"></TD></TR></TABLE>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR><P align=left><FONT face="Times New Roman" size=2><B><U>Item 2.02</u> <u>Results of Operations and Financial Condition</U></B></FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>On February 10, 2016, the
Company provided preliminary first quarter fiscal year 2016 financial
results.</FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2><U>Item
9.01</u>. <u>Financial Statements and Exhibits</U></FONT></B></P>
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  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Exhibits</FONT></TD></TR>
  <TR>
    <TD></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>99.1 Press Release dated
      February 10, 2016</FONT></TD></TR></TABLE><BR>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>SIGNATURES</FONT></B><FONT face="Times New Roman" size=2> </FONT><FONT face="Times New Roman"></FONT></P>
<P align=left><FONT face="Times New Roman" size=2>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><FONT face="Times New Roman"></FONT></P>
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    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="99%">
      <P align=center><B><FONT face="Times New Roman" size=2>PHOTRONICS,
      INC.</FONT></B></P></TD></TR>
  <TR>
    <TD noWrap style="text-align: center" width="99%">
      <P align=center><FONT face="Times New Roman" size=2>(Registrant)</FONT></P></TD></TR></TABLE></DIV><BR>
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    <TD noWrap align=left width="63%"><B><FONT face="Times New Roman" size=2>DATE: February 11, 2016</FONT></B></TD>
    <TD noWrap align=left width="1%"><B><FONT face="Times New Roman" size=2>BY&nbsp;</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="35%"><B><FONT face="Times New Roman" size=2>/s/
      </FONT></B><B><I><FONT face="Times New Roman" size=2>Richelle E. Burr</FONT></I></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="63%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="35%"><FONT face="Times New Roman" size=2>Richelle E. Burr</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="63%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="35%"><FONT face="Times New Roman" size=2>Vice
      President, General Counsel</FONT></TD></TR>
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    <TD style="BORDER-BOTTOM: #ff0000 1pt solid" noWrap align=left width="63%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #ff0000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #ff0000 1pt solid" noWrap align=left width="35%"></TD></TR>
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    <TD noWrap align=left width="63%">
      <P align=left><FONT face="Times New Roman" size=2>PHOTRONICS, INC.
      </FONT><FONT face="Times New Roman"></FONT></P></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="35%"></TD></TR></TABLE><BR>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>PRESS RELEASE DATED FEBRUARY 10, 2016
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    <TD vAlign=top noWrap align=left width="50%"><IMG src="exhibit99-1x1x1.jpg" border=0></TD>
    <TD vAlign=top noWrap align=right width="50%">
      <P><B><FONT face="Times New Roman" size=2>For Further Information:<BR></FONT></B><FONT face="Times New Roman" size=2>R. Troy Dewar, CFA<BR>Director, Investor Relations<BR>(203) 740-5610<BR>tdewar@photronics.com</FONT></P></TD></TR>
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    <TD vAlign=top noWrap align=left width="50%">&nbsp;</TD>
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      <P align=justify><I><FONT face="Times New Roman" size=3>Press
      Release</FONT></I><I></I></P></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=right width="50%"></TD></TR></TABLE><BR>
<P STYLE="text-align: center"><FONT face="Times New Roman" size=3>Photronics Provides
Preliminary First Quarter FY 2016 Financial Results</FONT></P>
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    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt; COLOR: #000000">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=justify><FONT face="Times New Roman" size=2>Expects Q116 sales to
      be between $128 and $130 million, and diluted EPS in the range of $0.26
      to $0.28<BR>&nbsp;</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt; COLOR: #000000">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=justify><FONT face="Times New Roman" size=2>Net income includes a        one-time
      net gain on sale of investment in        foreign entity of approximately $8.7
      million, or $0.11 per diluted share; excluding the gain,        diluted EPS expected to be $0.15 to $0.17<BR>&nbsp;</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt; COLOR: #000000">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=justify><FONT face="Times New Roman" size=2>Strong end market
      demand in high-end memory and FPD; soft demand in high-end logic;
      seasonal softness in mainstream
      IC<BR>&nbsp;</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt; COLOR: #000000">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=justify><FONT face="Times New Roman" size=2>Net cash position
      expands to over $100 million<BR>&nbsp;</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt; COLOR: #000000">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=justify><FONT face="Times New Roman" size=2>First quarter
      earnings announcement scheduled for February 24,
  2016</FONT></P></TD></TR></TABLE>
<P align=justify><FONT face="Times New Roman" size=2>BROOKFIELD, Connecticut &#150;  February 11, 2016
&#151; </FONT><FONT face="Times New Roman" size=2>Photronics, Inc.</FONT><FONT face="Times New Roman" size=2>
(Nasdaq:PLAB), a worldwide leader in supplying innovative imaging technology
solutions for the global electronics industry, today provided preliminary results
for the first  quarter of fiscal 2016, ended January 31, 2016.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2>Based upon preliminary financial results, Photronics now expects first
quarter sales to be between
$128 and $130 million, and diluted  earnings per share (EPS) to be in the range of $0.26 to
$0.28, including a one-time  net
gain on the sale of investment in a foreign entity of $0.11 per diluted share.
Excluding this gain, diluted EPS is  expected to be in the range of $0.15 to $0.17. These expectations compare with the previously announced guidance range
of $133 to $143 million in sales and diluted EPS of $0.14 to  $0.23. </FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=justify><FONT face="Times New Roman" size=2>"Similar to the last
several quarters, demand for high-end memory and FPD photomasks during
the first quarter was very strong;
however high end logic, which can be lumpy, was soft due to lower demand from some  foundry costumers in Asia, causing our sales
to be lower than we
previously communicated," stated Peter Kirlin, chief executive officer.  "Additionally, the seasonal slowdown we experienced in  mainstream IC was greater than normal, causing demand for those products
to be lower than our projections. As a result of the lower  demand for our products and the
operating leverage in our  model, we anticipate earnings will be in the low-end
of  our previous guidance, excluding
the one-</FONT><FONT face="Times New Roman" size=2>time gain. Nevertheless, we were able to continue  our trend of positive
cash flow, building our net cash position  to over $100 million. While our first quarter results
were slightly below  expectations, we remain confident that the long-term
growth outlook for our business
is positive, and are committed to  our strategic growth plan."</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2>Photronics is scheduled to  announce financial results for the first
quarter of fiscal 2016 on February 24,
2016, before the market opens, and will host a public  conference call on that same day
at 8:30 a.m. Eastern Time.  During the call, Company management will respond to questions
concerning, but not limited to, the Company&#146;s financial performance,  business conditions and industry
outlook. Some of these responses may  contain information that has not been previously disclosed.
The call will be broadcast live and on-demand
on the &#147;Investor&#148; section of the Photronics
website at  </FONT><FONT face="Times New Roman" size=2>www.photronics.com</FONT><FONT face="Times New Roman" size=2>.
Analysts and investors wishing to participate in  the Q&amp;A
portion of the call may dial (877)  377-7095,
or (408) 774-4601  outside of the
United States and Canada. It is
suggested  that participants call in five minutes prior to the call&#146;s scheduled  start time.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2># # #</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=1>About
Photronics</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=1>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></P>
<P align=justify><FONT face="Times New Roman" size=1>The Private Securities  Litigation Reform Act of 1995 provides
a &#147;safe harbor&#148; 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&#146;
web site involve risks and uncertainties that
may affect the Company&#146;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 as well as decisions we may make  in the future regarding our business, capital structure and
other matters. These forward-looking statements generally can
be identified
by phrases such
as &#147;believes&#148;, &#147;expects&#148;, &#147;anticipates&#148;,
&#147;plans&#148;, &#147;projects&#148;, and similar  expressions. Accordingly, there is no assurance that the
Company&#146;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 to any  forward-looking
statements.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=1>xx-2016</FONT> </P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
