secwatch.observer — SEC 8-K summary
======================================

Issuer:     PHOTRONICS INC (PLAB)
CIK:        0000810136
Form:       8-K
Filed at:   2025-05-28T23:59:59+00:00
Accession:  0001140361-25-020569
Event type: leadership
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/810136/000114036125020569/0001140361-25-020569-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/810136/000114036125020569/ef20049681_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-020569

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer