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Published: 2024-02-21 06:47:13 ET
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EX-99.5 6 ef20022070_ex99-5.htm EXHIBIT 99.5
Exhibit 99.5

PHOTRONICS, INC.
Reconciliation of GAAP to Non-GAAP Financial Information
(in thousands)
(Unaudited)

   
Three Months ended
  
   
January 28,
2024
    
October 31,
2023
    
January 29,
2023
  
 
Reconciliation of GAAP to Non-GAAP Non-operating (loss) Income:
                  
                   
GAAP Non-operating (loss) income, net
  
$
(3,747
)
  
$
18,660
    
$
(14,425
)
FX (gain) loss
    
8,909
      
(13,234
)
    
16,944
  
Non-GAAP Non-operating (loss) income, net
  
$
5,162
    
$
5,426
    
$
2,519
  
                         
Reconciliation of GAAP to Non-GAAP Income tax provision:
                        
                         
GAAP Income tax provision
  
$
14,660
    
$
20,288
    
$
12,582
  
Estimated tax effects of FX (gain) loss
    
(2,244
)
    
3,437
      
(4,506
)
Non-GAAP Income tax provision
  
$
16,904
    
$
16,851
    
$
17,088
  
                         
Reconciliation of GAAP to Non-GAAP Noncontrolling interests:
                        
                         
GAAP Noncontrolling interests
  
$
12,902
    
$
18,545
    
$
14,964
  
Estimated noncontrolling interest effects of above
    
(2,939
)
    
2,431
      
(2,060
)
Non-GAAP Noncontrolling interests
  
$
15,841
    
$
16,114
    
$
17,024
  
                         
Reconciliation of GAAP to Non-GAAP Net Income:
                        
                         
GAAP Net Income
  
$
26,180
    
$
44,611
    
$
13,986
  
FX (gain) loss
    
8,909
      
(13,234
)
    
16,944
  
Estimated tax effects of above
    
(2,244
)
    
3,437
      
(4,506
)
Estimated noncontrolling interest effects of above
    
(2,939
)
    
2,431
      
(2,060
)
Non-GAAP Net Income
  
$
29,906
    
$
37,245
    
$
24,364
  
                         
Weighted-average number of common shares outstanding - Diluted
    
62,283
      
62,067
      
61,470
  
                         
Reconciliation of GAAP to Non-GAAP EPS:
                        
                         
GAAP diluted earnings per share
  
$
0.42
    
$
0.72
    
$
0.23
  
Effects of the above adjustments
  
$
0.06
    
$
(0.12
)
  
$
0.17
  
Non-GAAP diluted earnings per share
  
$
0.48
    
$
0.60
    
$
0.40