EX-99.5 6 ef20029616_ex99-5.htm EXHIBIT 99.5

Exhibit 99.5
PHOTRONICS, INC.
Reconciliation of GAAP to Non-GAAP Financial Information
(in thousands)
(Unaudited)

|  | Three Months ended |
|  | April 28, 2024 |  |  | January 28, 2024 |  |  | April 30, 2023 |
Reconciliation of GAAP to Non-GAAP Net Income: |  |  |  |  |  |  |  |  |
GAAP Net Income |  | $ | 36,251 |  |  | $ | 26,180 |  |  | $ | 39,929 |
FX (gain) loss |  |  | (14,766 | ) |  |  | 8,909 |  |  |  | (10,718 | )
Estimated tax effects of above |  |  | 3,743 |  |  |  | (2,244 | ) |  |  | 2,823 |
Estimated noncontrolling interest effects of above |  |  | 3,489 |  |  |  | (2,939 | ) |  |  | 901 |
Non-GAAP Net Income |  | $ | 28,717 |  |  | $ | 29,906 |  |  | $ | 32,935 |
Weighted-average number of common shares outstanding - Diluted |  |  | 62,409 |  |  |  | 62,283 |  |  |  | 61,507 |
Reconciliation of GAAP to Non-GAAP EPS: |  |  |  |  |  |  |  |  |  |  |  |
GAAP diluted earnings per share |  | $ | 0.58 |  |  | $ | 0.42 |  |  | $ | 0.65 |
Effects of the above adjustments |  | $ | (0.12 | ) |  | $ | 0.06 |  |  | $ | (0.11 | )
Non-GAAP diluted earnings per share |  | $ | 0.46 |  |  | $ | 0.48 |  |  | $ | 0.54 |