Photronics, Inc. (Photronics) is a manufacturers of photomasks, which are precision photographic quartz plates containing microscopic images of electronic circuits. Photomasks are an element in the manufacture of semiconductors and flat panel displays (FPDs), and are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication of integrated circuits (ICs) and a range of FPDs and, other types of electrical and optical components. As of October 31, 2012, the Company operated principally from eight manufacturing facilities; two of which are located in Europe, two in Taiwan, one each in Korea, and three in the United States. During fiscal year ended October 28, 2012, the Company sold its products and services to approximately 600 customers. Samsung Electronics Co., Ltd. accounted for approximately 22% of the Company�s net sales. This included sales of both IC and FPD photomasks.