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    Gowshi Sriharan

    Research Analyst at Singular Research

    Gowshihan Sriharan, CFA, is an Analyst at Singular Research with over a decade of equity research experience across both buy-side and sell-side roles, bringing deep insights as a generalist. He has covered a broad spectrum of companies and sectors, developing investment theses on North American equities and previously served at respected firms such as South Texas Money Management, Gravity Capital, Sidoti & Co, and C.L.King & Associates. Sriharan holds the Chartered Financial Analyst (CFA) designation and is recognized for his pivotal roles and adaptability, splitting his professional time between London and the U.S. His analytical expertise enables effective sector rotation and rapid understanding of the key drivers for diverse investment opportunities.

    Gowshi Sriharan's questions to PHOTRONICS (PLAB) leadership

    Gowshi Sriharan's questions to PHOTRONICS (PLAB) leadership • Q2 2025

    Question

    Gowshi Sriharan of Singular Research inquired about the new CEO's priorities regarding the balance between U.S. capacity expansion and growth in Asia. He also asked for the underlying reasons for the weaker demand reflected in the Q3 forecast and questioned the company's future share repurchase strategy, given the significant buyback in Q2.

    Answer

    Newly appointed CEO George Macricostas explained that the company will continue to evaluate U.S. reshoring opportunities and invest appropriately in capacity, while also managing end-of-life tool replacements. CFO Eric Rivera attributed the cautious Q3 outlook to customer uncertainty stemming from the current tariff environment. Regarding capital allocation, Rivera stated that the remaining $23 million on the buyback authorization will be used opportunistically, and any future expansion of the program will be weighed against other investment opportunities to ensure long-term growth.

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