Photronics saw a modest revenue decline in Q2 2025, with net income significantly dropping compared to the prior year. The company repurchased $72 million of stock and initiated a CEO transition as Dr. Frank Lee stepped down. Operating margin remained stable while IC segment revenue showed slight sequential growth.
Revenue was $211.0M, down 1% sequentially and 3% YoY.
GAAP net income dropped sharply to $8.9M compared to $36.3M in Q2 2024.
Photronics repurchased $72M in stock, emphasizing long-term confidence.
Dr. Frank Lee stepped down as CEO, succeeded by George Macricostas.
Photronics guided Q3 2025 revenue and non-GAAP EPS slightly below Q2 levels, indicating cautious optimism amid ongoing investments.
Visualization of income flow from segment revenue to net income
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