Photronics Reports Q2 2025 Results and CEO Transition

Photronics ( (PLAB) ) has released its Q2 earnings. Here is a breakdown of the information Photronics presented to its investors.

Photronics, Inc. is a global leader in photomask technologies and solutions, serving the integrated circuit (IC) and flat panel display (FPD) industries with high precision quartz plates essential for electronic circuit manufacturing.

In its second quarter fiscal 2025 report, Photronics announced a leadership transition with Dr. Frank Lee stepping down as CEO, while continuing to oversee Asia operations. George Macricostas has been appointed as the new CEO. The company also highlighted a strategic move to return cash to shareholders by repurchasing $72 million of its stock.

Financially, Photronics reported a revenue of $211 million, reflecting a slight decline of 3% year-over-year. The GAAP net income attributable to shareholders was significantly lower at $8.9 million compared to the previous year’s $36.3 million. Non-GAAP net income stood at $24.3 million, with IC and FPD revenues showing mixed results. The company generated $31.5 million in cash from operations and invested $60.5 million in capital expenditures.

Looking ahead, Photronics projects third-quarter revenue between $200 million and $208 million, with non-GAAP net income per share expected to range from $0.35 to $0.41. The company remains focused on strategic growth and shareholder value as it navigates the leadership transition.