EX-99.2 3 exhibit99-2.htm CONDENSED CONSOLIDATED STATEMENTS OF INCOME

PHOTRONICS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(in thousands, except per share amounts)
(Unaudited)

		Three Months Ended
		February 1,				February 2,
		2015				2014
Net sales		$	123,505			$	101,542
Costs and expenses:
Cost of sales			(95,321	)			(78,660	)
Selling, general and administrative			(11,944	)			(12,278	)
Research and development			(4,681	)			(4,974	)
Operating income			11,559				5,630
Other expense, net			(1,283	)			(873	)
Income before income taxes			10,276				4,757
Income tax provision			(3,134	)			(2,716	)
Net income			7,142				2,041
Net income attributable to noncontrolling interests			(3,305	)			(48	)
Net income attributable to Photronics, Inc. shareholders		$	3,837			$	1,993
Earnings per share:
Basic		$	0.06			$	0.03
Diluted		$	0.06			$	0.03
Weighted-average number of common shares outstanding:
Basic			66,066				61,200
Diluted			67,020				62,136