Exhibit 99.4

PHOTRONICS, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(in thousands)

(Unaudited)

	July 30,		October 30,
	2017		2016
Assets
Current assets:
Cash and cash equivalents	$	340,572	$	314,074
Accounts receivable		91,812		92,636
Inventories		25,668		22,081
Other current assets		10,558		12,795
Total current assets		468,610		441,586
Property, plant and equipment, net		501,720		506,434
Intangible assets, net		18,320		19,854
Other assets		19,948		20,114
Total assets	$	1,008,598	$	987,988
Liabilities and Equity
Current liabilities:
Current portion of long-term borrowings	$	5,541	$	5,428
Accounts payable and accrued liabilities		73,769		75,889
Total current liabilities		79,310		81,317
Long-term borrowings		57,776		61,860
Other liabilities		16,384		19,337
Photronics, Inc. shareholders' equity		739,282		710,363
Noncontrolling interests		115,846		115,111
Total equity		855,128		825,474
Total liabilities and equity	$	1,008,598	$	987,988