Photronics (PLAB) 8-K Photronics Reports Second Quarter Fiscal 2024 Results

Exhibit 99.4

PHOTRONICS,  INC.

Condensed Consolidated Statements of Cash Flows

(in thousands)

(Unaudited)

	Six Months Ended
	April 28, 2024			April 30, 2023
Cash flows from operating activities:
Net income	$	95,454		$	88,223
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization		41,487			39,085
Share-based compensation		6,499			3,830
Changes in operating assets, liabilities and other		(25,446	)		(21,461	)
Net cash provided by operating activities		117,994			109,677
Cash flows from investing activities:
Purchases of property, plant and equipment		(63,311	)		(57,728	)
Purchases of available-for-sale debt securities		(16,551	)		(9,837	)
Proceeds from maturities of available-for-sale debt securities		9,000			4,000
Government incentives		1,419			1,393
Other		(6	)		(88	)
Net cash used in investing activities		(69,449	)		(62,260	)
Cash flows from financing activities:
Repayments of debt		(2,844	)		(14,720	)
Proceeds from share-based arrangements		1,055			730
Net settlements of restricted stock awards		(2,938	)		(1,252	)
Net cash used in financing activities		(4,727	)		(15,242	)
Effects of exchange rate changes on cash, cash equivalents, and restricted cash		(3,839	)		15,621
Net increase in cash, cash equivalents, and restricted cash		39,979			47,796
Cash, cash equivalents, and restricted cash, beginning of period		501,867			322,409
Cash, cash equivalents, and restricted cash, end of period	$	541,846		$	370,205