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Published: 2022-05-25 00:00:00 ET
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Exhibit 99.2

PHOTRONICS, INC.
Condensed Consolidated Statements of Income
(in thousands, except per share amounts)
(Unaudited)

   
Three Months Ended
    
Six Months Ended
  
   
May 1,
2022
    
January 30,
2022
    
May 2,
2021
    
May 1,
2022
    
May 2,
2021
  
                               
Revenue
  
$
204,509
    
$
189,827
    
$
159,763
    
$
394,336
    
$
311,830
  
                                         
Cost of goods sold
    
131,582
      
129,964
      
120,514
      
261,546
      
242,052
  
                                         
Gross Profit
    
72,927
      
59,863
      
39,249
      
132,790
      
69,778
  
                                         
Operating Expenses:
                                        
                                         
Selling, general and administrative
    
16,613
      
15,727
      
14,067
      
32,340
      
28,120
  
 
                                        
Research and development
    
4,206
      
5,939
      
4,375
      
10,145
      
9,085
  
 
                                        
Total Operating Expenses
    
20,819
      
21,666
      
18,442
      
42,485
      
37,205
  
                                         
Operating Income
    
52,108
      
38,197
      
20,807
      
90,305
      
32,573
  
                                         
Non-operating income (expense), net
    
8,021
      
4,707
      
(772
)
    
12,728
      
(92
)
                                         
Income Before Income Tax Provision
    
60,129
      
42,904
      
20,035
      
103,033
      
32,481
  
                                         
Income tax provision
    
14,689
      
11,178
      
3,714
      
25,867
      
6,651
  
                                         
Net Income
    
45,440
      
31,726
      
16,321
      
77,166
      
25,830
  
                                         
Net income attributable to noncontrolling interests
    
15,597
      
8,662
      
5,795
      
24,259
      
7,268
  
                                         
Net income attributable to Photronics, Inc. shareholders
  
$
29,843
    
$
23,064
    
$
10,526
    
$
52,907
    
$
18,562
  
                                         
Earnings per share:
                                        
                                         
Basic
  
$
0.49
    
$
0.38
    
$
0.17
    
$
0.88
    
$
0.30
  
 
                                        
Diluted
  
$
0.49
    
$
0.38
    
$
0.17
    
$
0.87
    
$
0.30
  
                                         
Weighted-average number of common shares outstanding:
                                        
                                         
Basic
    
60,606
      
60,158
      
62,054
      
60,382
      
62,265
  
 
                                        
Diluted
    
61,145
      
60,936
      
62,568
      
61,041
      
62,786