EX-99.3 4 ex99_3.htm EXHIBIT 99.3

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

|  | January 27, 2019 |  |  | October 31, 2018 |
Assets |  |  |  |  |  |
Current assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 232,448 |  |  | $ | 329,277 |
Accounts receivable |  |  | 131,066 |  |  |  | 120,515 |
Inventories |  |  | 27,874 |  |  |  | 29,180 |
Other current assets |  |  | 61,618 |  |  |  | 23,759 |
Total current assets |  |  | 453,006 |  |  |  | 502,731 |
Property, plant and equipment, net |  |  | 656,873 |  |  |  | 571,781 |
Intangible assets, net |  |  | 11,272 |  |  |  | 12,368 |
Other assets |  |  | 24,743 |  |  |  | 23,129 |
Total assets |  | $ | 1,145,894 |  |  | $ | 1,110,009 |
Liabilities and Equity |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Current portion of long-term debt |  | $ | 61,647 |  |  | $ | 57,453 |
Accounts payable and accrued liabilities |  |  | 132,880 |  |  |  | 133,623 |
Total current liabilities |  |  | 194,527 |  |  |  | 191,076 |
Long-term debt |  |  | 24,484 |  |  |  | - |
Other liabilities |  |  | 13,713 |  |  |  | 14,364 |
Photronics, Inc. shareholders' equity |  |  | 761,088 |  |  |  | 759,671 |
Noncontrolling interests |  |  | 152,082 |  |  |  | 144,898 |
Total equity |  |  | 913,170 |  |  |  | 904,569 |
Total liabilities and equity |  | $ | 1,145,894 |  |  | $ | 1,110,009 |