810136--1/13/2006--PHOTRONICS_INC

related topics
{customer, product, revenue}
{acquisition, growth, future}
{operation, international, foreign}
{competitive, industry, competition}
{operation, natural, condition}
{product, market, service}
{cost, regulation, environmental}
{property, intellectual, protect}
{personnel, key, retain}
{control, financial, internal}
{stock, price, operating}
{cost, operation, labor}
The Company is dependent on the semiconductor industry, which, as a whole, is volatile. The Company's quarterly operating results fluctuate significantly and may continue to do so in the future. The Company incurred net losses in fiscal 2003 and fiscal 2002 and may incur additional future net losses. The Company's industry is subject to rapid technological change and might fail to remain competitive. The Company's operations will continue to require substantial capital, which it may not be able to obtain. The Company has been dependent on sales to a limited number of large customers; the loss of any of these customers or any reduction in orders from these customers could materially affect its sales. The Company depends on a small number of suppliers for equipment and raw materials and, if the Company's suppliers do not deliver their products to them, the Company may be unable to deliver its products to its customers. The Company faces risks associated with manufacturing difficulties. The Company's prior and future acquisitions may entail certain operational and financial risks. The Company operates in a highly competitive industry. The Company's substantial international operations are subject to additional risks. The Company's operating results are influenced by the performance of Asian economies. The Company's business depends on management and technical personnel, who are in great demand. The Company may be unable to enforce or defend its ownership and use of proprietary technology. The Company may be unprepared for changes to environmental laws and regulations and may have liabilities arising from environmental matters. The Company's production facilities could be damaged or disrupted by a natural disaster or labor strike.

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