Photronics Inc. (NASDAQ:PLAB) Q2 2024 Earnings Conference Call May 22, 2024 8:30 AM ET

Company Participants

Frank Lee - Chief Executive Officer
Eric Rivera - interim Chief Financial Officer, Chief Accounting Officer
Chris Progler - Chief Technology Officer
Richelle Burr - Executive Vice President, Chief Administrative Officer

Conference Call Participants

Linda Umwali - DA Davidson
Eric Reckwood - [unknown firm]

Operator

Good day and thank you for standing by. Welcome to the Photronics second quarter 2024 earnings conference call.

At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question and answer session. To ask a question during that session, you will need to press star-one-one on your phone. You will then hear an automated message advising your hand is raised.

As a reminder, this conference is being recorded Wednesday, May 22, 2024.

I would now like to turn the conference over to Richelle Burr, Chief Administrative Officer. Please go ahead.

Richelle Burr

Thank you Lydia. Good morning everyone. Welcome to our review of Photronics fiscal 2024 second quarter results. Joining me this morning are Frank Lee, our Chief Executive Officer, Chris Progler, our Chief Technology Officer, and Eric Rivera, our interim Chief Financial Officer and Chief Accounting Officer.

The press release we issued earlier this morning together with the presentation material that accompanies our remarks are available on the Investor Relations section of our webpage.

Comments made by any participants on today’s call may include forward-looking statements that include such words as anticipate, believe, estimate, expect, forecast, and in our view. These forward-looking statements are based upon a number of risks, uncertainties and other factors that are difficult to predict. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. We are under no duty to update any of the forward-looking statements after the date of the presentation to conform these statements to actual results.

During the course of our discussion, we will refer to certain non-GAAP financial measures. These numbers are useful for analysts, investors and management to evaluate ongoing performance. A reconciliation of these metrics to GAAP financial results is provided in our presentation materials.

At this time, I will turn the call over to Frank.

Frank Lee

Thank you Richelle and good morning everyone.

Second quarter sales increased slightly from the first quarter as positive seasonality trend were mostly offset by temporary market softness following the Chinese New Year holiday, and the impact from the earthquake in Taiwan.