EX-99.3 4 ef20029616_ex99-3.htm EXHIBIT 99.3

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

|  | April 28, 2024 |  |  | October 31, 2023 |
Assets |  |  |  |  |  |
Current assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 539,160 |  |  | $ | 499,292 |
Short-term investments |  |  | 20,732 |  |  |  | 12,915 |
Accounts receivable |  |  | 197,523 |  |  |  | 194,927 |
Inventories |  |  | 54,257 |  |  |  | 49,963 |
Other current assets |  |  | 32,461 |  |  |  | 28,353 |
Total current assets |  |  | 844,133 |  |  |  | 785,450 |
Property, plant and equipment, net |  |  | 729,489 |  |  |  | 709,244 |
Other assets |  |  | 29,831 |  |  |  | 31,527 |
Total assets |  | $ | 1,603,453 |  |  | $ | 1,526,221 |
Liabilities and Equity |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Current portion of long-term debt |  | $ | 19,318 |  |  | $ | 6,621 |
Accounts payable and accrued liabilities |  |  | 176,249 |  |  |  | 178,602 |
Total current liabilities |  |  | 195,567 |  |  |  | 185,223 |
Long-term debt |  |  | 2,456 |  |  |  | 17,998 |
Other liabilities |  |  | 37,401 |  |  |  | 47,391 |
Photronics, Inc. shareholders' equity |  |  | 1,034,857 |  |  |  | 975,008 |
Noncontrolling interests |  |  | 333,172 |  |  |  | 300,601 |
Total equity |  |  | 1,368,029 |  |  |  | 1,275,609 |
Total liabilities and equity |  | $ | 1,603,453 |  |  | $ | 1,526,221 |