Exhibit 99.2

PHOTRONICS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
(Unaudited)

	Three Months Ended
	January 27,				January 28,
	2008				2007
Net sales	$	103,215			$	105,981
Costs and expenses:
Cost of sales		(82,619		)		(76,316		)
Selling, general and administrative		(16,302		)		(16,442		)
Research and development		(4,238		)		(4,720		)
Gain on sale of facility		-				2,254
Operating income		56				10,757
Other expense, net		(568		)		(284		)
Income (loss) before income taxes and minority interest		(512		)		10,473
Income tax provision		(1,873		)		(1,312		)
Income (loss) before minority interest		(2,385		)		9,161
Minority interest		(955		)		(1,304		)
Net income (loss)	$	(3,340		)	$	7,857
Earnings (loss) per share:
Basic	$	(0.08		)	$	0.19
Diluted	$	(0.08		)	$	0.17
Weighted average number of common shares
outstanding:
Basic			41,626				41,475
Diluted			41,626				51,361