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)

   
Three Months Ended
  
 
January 29,
2017
    
January 31,
2016
  
             
Cash flows from operating activities:
            
Net income
  
$
4,510
    
$
23,501
  
Adjustments to reconcile net income to net cash
                
provided by operating activities:
                
Depreciation and amortization
    
20,965
      
20,628
  
Gain on sale of investment
    
-
      
(8,785
)
Changes in assets, liabilities and other
    
6,064
      
8,044
  
                 
Net cash provided by operating activities
    
31,539
      
43,388
  
                 
Cash flows from investing activities:
                
Purchases of property, plant and equipment
    
(9,600
)
    
(21,539
)
Acquisition of Business
    
(5,400
)
    
-
  
Proceeds from sale of investments
    
-
      
8,785
  
Other
    
(396
)
    
193
  
                 
Net cash used in investing activities
    
(15,396
)
    
(12,561
)
                 
Cash flows from financing activities:
                
Repayments of long-term borrowings
    
(1,343
)
    
(2,437
)
Proceeds from share-based arrangements
    
1,113
      
2,063
  
Other
    
(16
)
    
-
  
                 
Net cash used in financing activities
    
(246
)
    
(374
)
                 
Effect of exchange rate changes on cash
    
(275
)
    
(4,876
)
                 
Net increase in cash and cash equivalents
    
15,622
      
25,577
  
Cash and cash equivalents, beginning of period
    
314,074
      
205,867
  
                 
Cash and cash equivalents, end of period
  
$
329,696
    
$
231,444