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August 23, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Photronics down in 3rd quarter; names new CFO

Third-quarter sales at Brookfield-based Photronics Inc. were $111.6 million, down 9 percent compared with last year. The semiconductor photomask manufacturer said that

Photronics headquarters in Brookfield. Photo by Chris Bosak/Hearst Connecticut Media

sales of its integrated circuits photomasks for the quarter were $85.1 million, down 7 percent compared with last year, while sales of flat panel display photomasks were $26.5 million, down 16 percent compared with last year.

Net income was $4 million, compared to $1.8 million for the previous quarter.

The firm also announced that Sean T. Smith will retire as senior vice president and CFO of the company, a position he has held since 2002, effective Sept. 4. Smith will remain with the company as principal accounting officer through September, then act as a consultant through early December.

Replacing Smith on Sept. 5 will be John P. Jordan, who most recently was interim vice president, CFO, treasurer and controller of AstroNova Inc., a data visualization technologies firm based in East Warwick, Rhode Island.