---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-020569"
form_type: "8-K"
ticker: "PLAB"
cik: "0000810136"
company_name: "PHOTRONICS INC"
filed_at: "2025-05-28T23:59:59+00:00"
generated_at: "2026-05-20T09:32:43.430234+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001140361-25-020569
- form_type: 8-K
- ticker: PLAB
- cik: 0000810136
- company_name: PHOTRONICS INC
- filed_at: 2025-05-28T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/810136/000114036125020569/0001140361-25-020569-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/810136/000114036125020569/ef20049681_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-020569
- JSON: https://secwatch.observer/filing/0001140361-25-020569.json
- Plain text: https://secwatch.observer/filing/0001140361-25-020569.txt

## Key facts
- Executive change
  George Macricostas was appointed as Chief Executive Officer at PHOTRONICS INC.
  - Action: appointed
  - Role: Chief Executive Officer
  source text: Mr. George Macricostas will simultaneously assume the role of Chief Executive Officer of Photronics, Inc., while remaining Chairman of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/810136/000114036125020569/0001140361-25-020569-index.htm
- Executive change
  Frank Lee changed role as Chief Executive Officer at PHOTRONICS INC.
  - Action: stepped down
  - Role: Chief Executive Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/810136/000114036125020569/0001140361-25-020569-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.