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

	August 1,		November 1,
	2010		2009
Assets
Current assets:
Cash and cash equivalents	$	104,027	$	88,539
Accounts receivable		79,995		66,920
Inventories		14,328		14,826
Other current assets		13,082		9,712
Total current assets		211,432		179,997
Property, plant and equipment, net		354,422		347,889
Investment in joint venture		60,914		60,945
Intangible assets, net		49,261		55,054
Other assets		18,535		19,771
	$	694,564	$	663,656
Liabilities and Equity
Current liabilities:
Current portion of long-term borrowings	$	11,577	$	10,301
Accounts payable and accrued liabilities		122,681		80,154
Total current liabilities		134,258		90,455
Long-term borrowings		76,439		112,137
Deferred income taxes and other liabilities		10,413		11,368
Equity		473,454		449,696
	$	694,564	$	663,656