Exhibit 99.3

PHOTRONICS, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(in thousands)

(Unaudited)

	May 1, 2016		November 1, 2015
Assets
Current assets:
Cash and cash equivalents	$	193,978	$	205,867
Accounts receivable		104,330		110,056
Inventories		24,510		24,157
Other current assets		24,409		24,034
Total current assets		347,227		364,114
Property, plant and equipment, net		523,669		547,284
Investment in joint venture		92,911		93,021
Intangible assets, net		22,071		24,616
Other assets		16,030		16,520
	$	1,001,908	$	1,045,555
Liabilities and Equity
Current liabilities:
Current portion of long-term borrowings	$	5,806	$	65,495
Accounts payable and accrued liabilities		108,311		127,197
Total current liabilities		114,117		192,692
Long-term borrowings		64,419		67,120
Other liabilities		20,600		23,677
Photronics, Inc. shareholders' equity		693,284		646,555
Noncontrolling interests		109,488		115,511
Total equity		802,772		762,066
	$	1,001,908	$	1,045,555