Photronics Q2 GAAP EPS $0.15 vs $0.58 YoY; CEO Frank Lee steps down, George Macricostas named CEO

PHOTRONICS INC

GAAP net income $8.9M ($0.15/diluted) vs $36.3M ($0.58) in Q2 2024; non-GAAP $24.3M ($0.40) vs $28.7M ($0.46).
Revenue $211.0M, down 3% YoY; IC $155.9M (-3%), FPD $55.1M (-2%).
Q3 guidance: revenue $200-208M, non-GAAP EPS $0.35-0.41.
Dr. Frank Lee steps down as CEO, will focus on Asia operations; George Macricostas appointed CEO, remains Chairman.
Repurchased $72.1M in stock during quarter; cash and equivalents $558.4M.

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Executive movements

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Appointed

George Macricostas

Chief Executive Officer

PLAB · PHOTRONICS INC

Effective: 2025-05-28
Filed: May 28, 2025 23:59 UTC

Mr. George Macricostas will simultaneously assume the role of Chief Executive Officer of Photronics, Inc., while remaining Chairman of the Board.

Role change

Frank Lee

Chief Executive Officer

PLAB · PHOTRONICS INC

Effective: 2025-05-28
Successor: George Macricostas
Filed: May 28, 2025 23:59 UTC

On May 24, 2025, Dr. Frank Lee informed the Photronics, Inc. Board of Directors of his plans to retire in the next year or two. In order to prepare for this transition, effective with the earnings release on May 28, 2025, Dr. Lee has stepped down from his role as CEO of Photronics, Inc.

Source: SEC EDGAR

accession 0001140361-25-020569

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