Exhibit 99.6
PHOTRONICS, INC.
Reconciliation of GAAP to Non-GAAP Financial Information (cont.)
(in thousands)
(Unaudited)
Reconciliation of Net cash provided by operating activities to Free Cash Flow
Six Months ended | Year ended | |||||||||||||||
April 30, 2023 | October 31, 2022 | October 31, 2021 | Target Model Two-year Horizon | |||||||||||||
GAAP Net cash provided by operating activities | $ | 109,677 | $ | 275,187 | $ | 150,772 | $ | 350,000 - 400,000 | ||||||||
Purchases of property, plant and equipment | (57,728 | ) | (112,338 | ) | (109,099 | ) | (100,000 | ) | ||||||||
Free Cash Flow | $ | 51,949 | $ | 162,849 | $ | 41,673 | $ | 250,000 - 300,000 |
Reconciliation of Free Cash flow to LTM Free Cash Flow:
Free Cash Flow | ||||
Six Months ended April 30, 2023 | $ | 51,949 | ||
Year-ended October 31, 2022 | 162,849 | |||
Six Months ended May 1, 2022 | (68,480 | ) | ||
LTM April 30, 2023 | $ | 146,318 |
Reconciliation of Cash and cash equivalents to Net Cash:
As of | ||||||||||||
April 30, 2023 | October 31, 2022 | May 1, 2022 | ||||||||||
Cash and cash equivalents | $ | 367,485 | $ | 319,680 | $ | 329,282 | ||||||
Current portion of Long-term debt | (7,017 | ) | (10,024 | ) | (12,410 | ) | ||||||
Long-term Debt | (21,322 | ) | (32,310 | ) | (70,138 | ) | ||||||
Net Cash | $ | 339,146 | $ | 277,346 | $ | 246,734 |