Exhibit 99.2
PHOTRONICS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(in thousands, except per share amounts)
(Unaudited)
| Three Months Ended | Nine Months Ended | |||||||||||||||
July 31, 2016 | August 2, 2015 | July 31, 2016 | August 2, 2015 | |||||||||||||
| Net sales | $ | 123,209 | $ | 131,699 | $ | 376,088 | $ | 382,513 | ||||||||
| Costs and expenses: | ||||||||||||||||
| Cost of sales | (91,759 | ) | (94,456 | ) | (277,915 | ) | (283,991 | ) | ||||||||
| Selling, general and administrative | (11,163 | ) | (12,430 | ) | (34,386 | ) | (36,795 | ) | ||||||||
| Research and development | (5,466 | ) | (6,253 | ) | (16,613 | ) | (16,743 | ) | ||||||||
| Operating income | 14,821 | 18,560 | 47,174 | 44,984 | ||||||||||||
| Gain on sale of investment | 157 | - | 8,940 | - | ||||||||||||
| Other income (expense), net | 1,237 | 240 | (872 | ) | (2,500 | ) | ||||||||||
| Income before income taxes | 16,215 | 18,800 | 55,242 | 42,484 | ||||||||||||
| Income tax provision | (4,762 | ) | (3,390 | ) | (6,136 | ) | (7,775 | ) | ||||||||
| Net income | 11,453 | 15,410 | 49,106 | 34,709 | ||||||||||||
| Net income attributable to noncontrolling interests | (3,365 | ) | (3,304 | ) | (8,162 | ) | (8,706 | ) | ||||||||
| Net income attributable to Photronics, Inc. shareholders | $ | 8,088 | $ | 12,106 | $ | 40,944 | $ | 26,003 | ||||||||
| Earnings per share: | ||||||||||||||||
| Basic | $ | 0.12 | $ | 0.18 | $ | 0.61 | $ | 0.39 | ||||||||
| Diluted | $ | 0.12 | $ | 0.17 | $ | 0.56 | $ | 0.37 | ||||||||
| Weighted-average number of common shares outstanding: | ||||||||||||||||
| Basic | 67,953 | 66,454 | 67,377 | 66,250 | ||||||||||||
| Diluted | 74,317 | 78,569 | 76,990 | 78,300 | ||||||||||||