Enhanced Investments - Financial Portal

Published: 2022-08-30 06:20:39 ET

EX-99.2 3 brhc10041423_ex99-2.htm EXHIBIT 99.2

Exhibit 99.2

PHOTRONICS, INC.

Condensed Consolidated Statements of Income

(in thousands, except per share amounts)

(Unaudited)

	Three Months Ended							Nine Months Ended
	July 31, 2022			May 1, 2022		August 1, 2021		July 31, 2022			August 1, 2021

Revenue	$	219,948		$	204,509	$	170,643	$	614,283		$	482,473

Cost of goods sold		136,085			134,289		125,318		400,338			367,370

Gross Profit		83,863			70,220		45,325		213,945			115,103

Operating Expenses:

Selling, general and administrative		15,960			16,613		15,083		48,306			43,203

Research and development		4,151			4,206		5,305		14,297			14,390

Total Operating Expenses		20,111			20,819		20,388		62,603			57,593

Other operating (loss) income, net		(23	)		-		3,525		(17	)		3,525

Operating Income		63,729			49,401		28,462		151,325			61,035

Non-operating income, net		3,641			8,021		3,735		16,370			3,643

Income Before Income Tax Provision		67,370			57,422		32,197		167,695			64,678

Income tax provision		18,146			14,393		7,842		43,717			14,493

Net Income		49,224			43,029		24,355		123,978			50,185

Net income attributable to noncontrolling interests		17,994			15,597		7,279		42,252			14,547

Net income attributable to Photronics, Inc. shareholders	$	31,230		$	27,432	$	17,076	$	81,726		$	35,638

Earnings per share:

Basic	$	0.51		$	0.45	$	0.28	$	1.35		$	0.58

Diluted	$	0.51		$	0.45	$	0.28	$	1.34		$	0.57

Weighted-average number of common shares outstanding:

Basic		60,701			60,606		60,884		60,488			61,804

Diluted		61,299			61,145		61,515		61,127			62,362

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.