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.

item 2.02 item 5.02 item 9.01

Executive movements

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Appointed

George Macricostas

Chief Executive Officer

PLAB · PHOTRONICS INC

Effective: 2025-05-28
Filed: May 28, 2025, 7:59 PM ET

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, 7:59 PM ET

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.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

George Macricostas was appointed as Chief Executive Officer at PHOTRONICS INC.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

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

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Frank Lee changed role as Chief Executive Officer at PHOTRONICS INC.

Action: stepped down
Role: Chief Executive Officer

Exact text from the filing

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.

View on SEC.gov

PHOTRONICS INC filing history →

Source: SEC EDGAR

accession 0001140361-25-020569

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