Exhibit 99.5
PHOTRONICS, INC.
Reconciliation of GAAP to Non-GAAP Financial Information
(in thousands)
(Unaudited)
Three Months ended | Six Months ended | |||||||||||||||||||
April 30, 2023 | January 29, 2023 | May 1, 2022 | April 30, 2023 | May 1, 2022 | ||||||||||||||||
Reconciliation of GAAP to Non-GAAP Net Income: | ||||||||||||||||||||
GAAP Net Income | $ | 39,929 | $ | 13,986 | $ | 27,432 | $ | 53,915 | $ | 50,496 | ||||||||||
FX (gain) loss | (10,718 | ) | 16,944 | (7,844 | ) | 6,226 | (13,112 | ) | ||||||||||||
Estimated tax effects of above | 2,823 | (4,506 | ) | 1,947 | (1,683 | ) | 3,284 | |||||||||||||
Estimated noncontrolling interest effects of above | 901 | (2,060 | ) | 1,543 | (1,159 | ) | 1,639 | |||||||||||||
Non-GAAP Net Income | $ | 32,935 | $ | 24,364 | $ | 23,078 | $ | 57,299 | $ | 42,307 | ||||||||||
Weighted-average number of common shares outstanding - Diluted | 61,507 | 61,470 | 61,145 | 61,489 | 61,041 | |||||||||||||||
Reconciliation of GAAP to Non-GAAP EPS: | ||||||||||||||||||||
GAAP diluted earnings per share | $ | 0.65 | $ | 0.23 | $ | 0.45 | $ | 0.88 | $ | 0.83 | ||||||||||
Effects of the above adjustments | $ | (0.11 | ) | $ | 0.17 | $ | (0.07 | ) | $ | 0.05 | $ | (0.14 | ) | |||||||
Non-GAAP diluted earnings per share | $ | 0.54 | $ | 0.40 | $ | 0.38 | $ | 0.93 | $ | 0.69 |