Enhanced Investments - Financial Portal

Published: 2023-09-06 00:00:00 ET

EX-99.2 3 brhc20058525_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 30,			April 30,		July 31,			July 30,			July 31,
	2023			2023		2022			2023			2022

Revenue	$	224,206		$	229,306	$	219,948		$	664,603		$	614,283

Cost of goods sold		137,405			140,904		136,085			413,323			400,338

Gross Profit		86,801			88,402		83,863			251,280			213,945

Operating Expenses:

Selling, general and administrative		18,032			17,878		15,960			52,728			48,306

Research and development		3,505			3,479		4,151			10,287			14,297

Total Operating Expenses		21,537			21,357		20,111			63,015			62,603

Other operating loss		-			-		(23	)		-			(17	)

Operating Income		65,264			67,045		63,729			188,265			151,325

Non-operating (loss) income, net		(911	)		13,571		3,641			(1,764	)		16,370

Income Before Income Tax Provision		64,353			80,616		67,370			186,501			167,695

Income tax provision		16,098			21,343		18,146			50,023			43,717

Net Income		48,255			59,273		49,224			136,478			123,978

Net income attributable to noncontrolling interests		21,296			19,344		17,994			55,604			42,252

Net income attributable to Photronics, Inc. shareholders	$	26,959		$	39,929	$	31,230		$	80,874		$	81,726

Earnings per share:

Basic	$	0.44		$	0.65	$	0.51		$	1.32		$	1.35

Diluted	$	0.44		$	0.65	$	0.51		$	1.31		$	1.34

Weighted-average number of common shares outstanding:

Basic		61,233			61,138		60,701			61,089			60,488

Diluted		61,974			61,507		61,299			61,650			61,127

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.