07:19 AM EDT, 05/22/2024 (MT Newswires) -- Photronics ( PLAB ) reported fiscal Q2 adjusted earnings Wednesday of $0.46 per diluted share, down from $0.54 a year earlier.

A single analyst polled by Capital IQ expected $0.55.

Revenue for the quarter ended April 28 was $217 million, down from $229.3 million a year earlier.

A sole analyst polled by Capital IQ expected $231 million.

The company said it expects fiscal Q3 adjusted earnings of $0.53 to $0.59 per diluted share on revenue of $221 million to $229 million. Analysts surveyed by Capital IQ expect adjusted earnings of $0.58 per share and revenue of $240 million.

Shares of the company were down nearly 10% in recent Wednesday premarket activity.

Price: 25.50, Change: -2.76, Percent Change: -9.77