EX-99.5 6 ef20034494_ex99-5.htm EXHIBIT 99.5
Exhibit 99.5

PHOTRONICS, INC.
Reconciliation of GAAP Net income attributable to Photronics, Inc. shareholders to Non-GAAP Net income
(in thousands)
(Unaudited)

   
Three Months ended
  
     
July 28,
2024
      
April 28,
2024
      
July 30,
2023
   
                   
GAAP Net income attributable to Photronics, Inc. shareholders
  
$
34,388
    
$
36,251
    
$
26,959
  
FX (gain) loss
    
(4,068
)
    
(14,766
)
    
4,543
  
Estimated tax effects of FX (gain) loss
    
914
      
3,743
      
(1,193
)
Estimated noncontrolling interest effects of above
    
681
      
3,489
      
1,328
  
Non-GAAP Net income attributable to Photronics, Inc. shareholders
  
$
31,915
    
$
28,717
    
$
31,637
  
                         
Weighted-average number of common shares outstanding - Diluted
    
62,414
      
62,409
      
61,974
  
                         
                         
GAAP Diluted earnings per share
  
$
0.55
    
$
0.58
    
$
0.44
  
Effects of non-GAAP adjustments above
    
(0.04
)
    
(0.12
)
    
0.07
  
Non-GAAP Diluted earnings per share
  
$
0.51
    
$
0.46
    
$
0.51