Shares of Photronics, Inc. (PLAB) are experiencing a significant decline of over 9%, following a dip in the company's second-quarter earnings and revenue.
Currently trading at $25.50 on the Nasdaq pre-market, PLAB has fallen by 9.77%.
In the latest three-month period, Photronics reported a net profit of $36.3 million, or $0.58 per share, which is down from $39.9 million, or $0.65 per share, recorded in the same period last year.
When excluding certain items, earnings were $28.7 million, or $0.46 per share, compared to $32.9 million, or $0.54 per share, the previous year.
