PHOTRONICS, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(in thousands)
(Unaudited)

	May 2,		November 1,
	2010		2009
Assets
Current assets:
Cash and cash equivalents	$	91,410	$	88,539
Accounts receivable		81,247		66,920
Inventories		15,861		14,826
Other current assets		9,912		9,712
Total current assets		198,430		179,997
Property, plant and equipment, net		360,108		347,889
Investment in joint venture		60,901		60,945
Intangible assets, net		50,794		55,054
Other assets		19,175		19,771
	$	689,408	$	663,656
Liabilities and Equity
Current liabilities:
Current portion of long-term borrowings	$	11,364	$	10,301
Accounts payable and accrued liabilities		94,017		80,154
Total current liabilities		105,381		90,455
Long-term borrowings		96,897		112,137
Deferred income taxes and other liabilities		10,961		11,368
Equity		476,169		449,696
	$	689,408	$	663,656