EX-99.4 5 ex99_4.htm EXHIBIT 99.4
Exhibit 99.4
 
PHOTRONICS,  INC.  AND  SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows
(in thousands)
(Unaudited)

   
Six Months Ended
  
   
May 1,
2016
    
May 3,
2015
  
             
Cash flows from operating activities:
            
Net income
  
$
37,653
    
$
19,298
  
Adjustments to reconcile net income to net cash provided by operating activities:
                
Depreciation and amortization
    
40,832
      
40,318
  
Gain on sale of investment
    
(8,785
)
    
-
  
Changes in assets and liabilities and other
    
(4,561
)
    
(1,709
)
                 
Net cash provided by operating activities
    
65,139
      
57,907
  
                 
Cash flows from investing activities:
                
Purchases of property, plant and equipment
    
(34,928
)
    
(67,935
)
Proceeds from sale of investments
    
8,785
      
-
  
Other
    
193
      
(218
)
                 
Net cash used in investing activities
    
(25,950
)
    
(68,153
)
                 
Cash flows from financing activities:
                
Repayments of long-term borrowings
    
(54,951
)
    
(4,751
)
Proceeds from share-based arrangements
    
3,046
      
1,195
  
Other
    
(19
)
    
(76
)
                 
Net cash used in financing activities
    
(51,924
)
    
(3,632
)
                 
Effect of exchange rate changes on cash
    
846
      
(3,001
)
                 
Net decrease in cash and cash equivalents
    
(11,889
)
    
(16,879
)
Cash and cash equivalents, beginning of period
    
205,867
      
192,929
  
                 
Cash and cash equivalents, end of period
  
$
193,978
    
$
176,050