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AI brief of an SEC Form 8-K · Photronics (PLAB)

Photronics names George Macricostas CEO; Q2 GAAP EPS falls to $0.15

Negative Impact 4 of 5 leadership Written later

Photronics reported fiscal second-quarter 2025 revenue of $211.0 million, down 3% year over year, and GAAP net income attributable to shareholders of $8.9 million, or $0.15 per diluted share, versus $36.3 million a year earlier. CEO Frank Lee stepped down effective with the May 28, 2025 release, and George Macricostas, a board member since 2002, took over as CEO while remaining Chairman; the company plans to amend his employment agreement, with terms to be disclosed later. Third-quarter revenue guidance of $200 million to $208 million is below the second quarter's $211.0 million.

Key points

  • Q2 revenue was $211.0 million, down 3% year over year; GAAP net income attributable to shareholders was $8.9 million, or $0.15 per diluted share, versus $36.3 million, or $0.58, a year earlier.
  • Non-GAAP diluted EPS was $0.40, compared with $0.46 in the second quarter of 2024.
  • Q3 fiscal 2025 guidance: revenue of $200 million to $208 million and non-GAAP diluted EPS of $0.35 to $0.41.
  • Dr. Frank Lee stepped down as CEO and plans to retire in the next year or two; George Macricostas became CEO while remaining Chairman, and Lee remains Chairman and President of PDMC and on the board.

The filing

CompanyPhotronics (PLAB)
Form8-K, current report
Filed with the SECMay 28, 2025, 7:00 AM ET
Accession number0001140361-25-020569

Items reported: 2.02 Results of Operations5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 28, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.