EX-99.3 4 ex99_3.htm EXHIBIT 99.3

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

|  | July 28, 2019 |  |  | October 31, 2018 |
Assets |  |  |  |  |  |
Current assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 197,243 |  |  | $ | 329,277 |
Accounts receivable |  |  | 134,369 |  |  |  | 120,515 |
Inventories |  |  | 39,982 |  |  |  | 29,180 |
Other current assets |  |  | 48,873 |  |  |  | 23,759 |
Total current assets |  |  | 420,467 |  |  |  | 502,731 |
Property, plant and equipment, net |  |  | 636,743 |  |  |  | 571,781 |
Intangible assets, net |  |  | 9,013 |  |  |  | 12,368 |
Other assets |  |  | 47,972 |  |  |  | 23,129 |
Total assets |  | $ | 1,114,195 |  |  | $ | 1,110,009 |
Liabilities and Equity |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Debt |  | $ | 6,100 |  |  | $ | 57,453 |
Accounts payable and accrued liabilities |  |  | 153,174 |  |  |  | 133,623 |
Total current liabilities |  |  | 159,274 |  |  |  | 191,076 |
Long-term debt |  |  | 43,015 |  |  |  | - |
Other liabilities |  |  | 11,568 |  |  |  | 14,364 |
Photronics, Inc. shareholders' equity |  |  | 763,394 |  |  |  | 759,671 |
Noncontrolling interests |  |  | 136,944 |  |  |  | 144,898 |
Total equity |  |  | 900,338 |  |  |  | 904,569 |
Total liabilities and equity |  | $ | 1,114,195 |  |  | $ | 1,110,009 |