Photronics (PLAB) 8-K Results of Operations and Financial Condition

PHOTRONICS, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(in thousands)

	November 1,		November 2,
	2009		2008
Assets
Current assets:
Cash, cash equivalents and short-term
investments of $148 in 2009 and $1,343 in 2008	$	88,687	$	85,106
Accounts receivable		66,920		68,095
Inventories		14,826		17,548
Other current assets		9,564		11,748
Total current assets		179,997		182,497
Property, plant and equipment, net		347,889		436,528
Investment in joint venture		60,945		65,737
Other intangibles, net		55,054		62,386
Other assets		19,771		10,859
	$	663,656	$	758,007
Liabilities and Shareholders' Equity
Current liabilities:
Current portion of long-term borrowings	$	10,301	$	20,630
Accounts payable and accrued liabilities		80,154		95,448
Total current liabilities		90,455		116,078
Long-term borrowings		112,137		202,979
Deferred income taxes and other liabilities		11,368		6,552
Minority interest		49,941		49,616
Shareholders' equity		399,755		382,782
	$	663,656	$	758,007