EX-99.2 4 exhibit99-2.htm CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS exhibit99-2.htm
PHOTRONICS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
(Unaudited)
 
Three Months Ended Nine Months Ended
August 1, August 2, August 1, August 2,
     2010      2009      2010      2009
Net sales $ 112,251 $ 95,401 $ 315,518 $ 266,676
Costs and expenses:
       Cost of sales      (85,979 )      (77,347 )      (248,979 )      (226,622 )
       Selling, general and administrative (11,068 ) (9,963 ) (32,086 ) (30,995 )
       Research and development (3,427 ) (3,854 ) (10,983 ) (11,655 )
       Consolidation, restructuring and related (charges) credits (26 ) (10,660 ) 4,810 (12,746 )
       Impairment of long-lived assets - - - (1,458 )
              Operating income (loss) 11,751 (6,423 ) 28,280 (16,800 )
Other income (expense), net (1,234 ) (14,220 ) (5,870 ) (22,845 )
              Income (loss) before income taxes 10,517 (20,643 ) 22,410 (39,645 )
Income tax provision (2,910 ) (1,805 ) (5,790 ) (2,927 )
              Net income (loss) 7,607 (22,448 ) 16,620 (42,572 )
Net (income) loss attributable to noncontrolling interests 84 (399 ) (842 ) (580 )
Net income (loss) attributable to Photronics, Inc. $ 7,691 $ (22,847 ) $ 15,778 $ (43,152 )
 
Earnings (loss) per share:
              Basic $ 0.14 $ (0.55 ) $ 0.30 $ (1.03 )
              Diluted $ 0.13 $ (0.55 ) $ 0.29 $ (1.03 )
Weighted average number of common shares
       outstanding:
              Basic 53,516 41,819 53,341 41,772
              Diluted 66,280 41,819 65,689 41,772