Exhibit 99.2
PHOTRONICS, INC.
Condensed Consolidated Statements of Income
(in thousands, except per share amounts)
(Unaudited)
Three Months Ended | Six Months Ended | |||||||||||||||||||
May 2, 2021 | January 31, 2021 | May 3, 2020 | May 2, 2021 | May 3, 2020 | ||||||||||||||||
Revenue | $ | 159,763 | $ | 152,067 | $ | 142,774 | $ | 311,830 | $ | 302,510 | ||||||||||
Cost of goods sold | 120,514 | 121,538 | 112,341 | 242,052 | 237,475 | |||||||||||||||
Gross profit | 39,249 | 30,529 | 30,433 | 69,778 | 65,035 | |||||||||||||||
Operating Expenses: | ||||||||||||||||||||
Selling, general and administrative | 14,067 | 14,053 | 13,267 | 28,120 | 27,486 | |||||||||||||||
Research and development | 4,375 | 4,710 | 4,462 | 9,085 | 8,541 | |||||||||||||||
Total Operating Expenses | 18,442 | 18,763 | 17,729 | 37,205 | 36,027 | |||||||||||||||
Operating income | 20,807 | 11,766 | 12,704 | 32,573 | 29,008 | |||||||||||||||
Other income (expense), net | (772 | ) | 680 | (951 | ) | (92 | ) | 2,745 | ||||||||||||
Income before income tax provision | 20,035 | 12,446 | 11,753 | 32,481 | 31,753 | |||||||||||||||
Income tax provision | 3,714 | 2,937 | 3,781 | 6,651 | 12,853 | |||||||||||||||
Net income | 16,321 | 9,509 | 7,972 | 25,830 | 18,900 | |||||||||||||||
Net income attributable to noncontrolling interests | 5,795 | 1,473 | 1,688 | 7,268 | 2,316 | |||||||||||||||
Net income attributable to Photronics, Inc. shareholders | $ | 10,526 | $ | 8,036 | $ | 6,284 | $ | 18,562 | $ | 16,584 | ||||||||||
Earnings per share: | ||||||||||||||||||||
Basic | $ | 0.17 | $ | 0.13 | $ | 0.10 | $ | 0.30 | $ | 0.25 | ||||||||||
Diluted | $ | 0.17 | $ | 0.13 | $ | 0.10 | $ | 0.30 | $ | 0.25 | ||||||||||
Weighted-average number of common shares outstanding: | ||||||||||||||||||||
Basic | 62,054 | 62,475 | 64,937 | 62,265 | 65,246 | |||||||||||||||
Diluted | 62,568 | 63,005 | 65,417 | 62,786 | 65,933 |