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Published: 2022-02-23 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
  
    
January 30,
2022
      
October 31,
2021
      
January 31,
2021
   
 
Revenue
  
$
189,827
    
$
181,288
    
$
152,067
  
                         
Cost of goods sold
    
129,964
      
129,347
      
121,538
  
                         
Gross Profit
    
59,863
      
51,941
      
30,529
  
                         
Operating Expenses:
                        
                         
Selling, general and administrative
    
15,727
      
14,322
      
14,053
  
                         
Research and development
    
5,939
      
4,100
      
4,710
  
                         
Total Operating Expenses
    
21,666
      
18,422
      
18,763
  
                         
Operating Income
    
38,197
      
33,519
      
11,766
  
                         
Non-operating income, net
    
4,707
      
3,809
      
680
  
                         
Income Before Income Tax Provision
    
42,904
      
37,328
      
12,446
  
                         
Income tax provision
    
11,178
      
8,697
      
2,937
  
                         
Net Income
    
31,726
      
28,631
      
9,509
  
                         
Net income attributable to noncontrolling interests
    
8,662
      
8,820
      
1,473
  
                         
Net income attributable to Photronics, Inc. shareholders
  
$
23,064
    
$
19,811
    
$
8,036
  
                         
Earnings per share:
                        
 
                        
Basic
  
$
0.38
    
$
0.33
    
$
0.13
  
                         
Diluted
  
$
0.38
    
$
0.33
    
$
0.13
  
                         
Weighted-average number of common shares outstanding:
                        
                         
Basic
    
60,158
      
60,216
      
62,475
  
                         
Diluted
    
60,936
      
60,908
      
63,005