Q1-2007 Conference Call

Q1-2007 Conference Call

February 15, 2007

February 15, 2007

Exhibit 99.2

Photronics Confidential

Q1                          

2007

$0.13

Adjusted EPS

(0.04)

Less: Impact of gain                        

on sale of facility

$0.17

“GAAP”

EPS

First Quarter Results-EPS

First Quarter Results-EPS

Photronics Confidential

$115

$106

Total

(5)

(9)

High-End-

90nm and below

(19)

(15)

High-End-

G6 and above

23%

20

$86

Q1

Q1

2007

2007

21%

25

$90

Q4

Q4

2006

2006

Total High-End %

FPD Revenue

IC Revenue

Sequential Quarterly Revenue (IC/FPD)

Sequential Quarterly Revenue (IC/FPD)

in millions

in millions

MPMTC –

MPMTC –

Photronics -

Photronics -

Micron Joint Venture

Micron Joint Venture

Micron

Technology

TAM $90M

Other

Merchant

Mask Makers

Photronics

Photronics               

(100% owned)

Mask facilities                         

Once qualified at MU

NanoFab               

(100% PLAB owned)

Operational end                          

2007 at 65 nm + below                               

$150M

MP Mask Technology JV

49.9% PLAB  $  65M tangible

50.1%  MU     $  70M intangible

$135M

(Former MU captive mask fab)

5

6

2

3

4

1

1

2

3

4

5

6

Micron places mask orders through PLAB under

Supply Agreement

PLAB subcontracts MP Mask for Micron’s in house

demand.  Receives up to $5M commission annually

PLAB to receive minimum 2/3 outsourced Micron

orders, once qualified

Time delayed technology transfer

Up to 1/3 excess demand

~ 80% Mask demand, fully load MPMTC

7

PLAB to use MP Mask excess capacity for own

customers

(estimated

$5M

-

$10M

annually)

3

7