EX-99.3 4 ex99_3.htm EXHIBIT 99.3

Exhibit 99.3
PHOTRONICS, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(in thousands)
(Unaudited)

|  | July 29, 2018 |  |  | October 29, 2017 |
Assets |  |  |  |  |  |
Current assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 332,739 |  |  | $ | 308,021 |
Accounts receivable |  |  | 118,727 |  |  |  | 105,320 |
Inventories |  |  | 31,756 |  |  |  | 23,703 |
Other current assets |  |  | 21,698 |  |  |  | 12,080 |
Total current assets |  |  | 504,920 |  |  |  | 449,124 |
Property, plant and equipment, net |  |  | 546,688 |  |  |  | 535,197 |
Intangible assets, net |  |  | 13,507 |  |  |  | 17,122 |
Other assets |  |  | 22,897 |  |  |  | 19,351 |
Total assets |  | $ | 1,088,012 |  |  | $ | 1,020,794 |
Liabilities and Equity |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Current portion of long-term borrowings |  | $ | 57,893 |  |  | $ | 4,639 |
Accounts payable and accrued liabilities |  |  | 100,949 |  |  |  | 77,137 |
Total current liabilities |  |  | 158,842 |  |  |  | 81,776 |
Long-term borrowings |  |  | - |  |  |  | 57,337 |
Other liabilities |  |  | 15,657 |  |  |  | 16,386 |
Photronics, Inc. shareholders' equity |  |  | 770,810 |  |  |  | 744,564 |
Noncontrolling interests |  |  | 142,703 |  |  |  | 120,731 |
Total equity |  |  | 913,513 |  |  |  | 865,295 |
Total liabilities and equity |  | $ | 1,088,012 |  |  | $ | 1,020,794 |