EX-99.5 6 brhc20053410_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
    
Six Months ended
  
 
 
   
April 30,
2023
      
January 29,
2023
      
May 1,
2022
      
April 30,
2023
      
May 1,
2022
   
 
                              
Reconciliation of GAAP to Non-GAAP Net Income:
                              
 
                              
GAAP Net Income
  
$
39,929
    
$
13,986
    
$
27,432
    
$
53,915
    
$
50,496
  
FX (gain) loss
    
(10,718
)
    
16,944
      
(7,844
)
    
6,226
      
(13,112
)
Estimated tax effects of above
    
2,823
      
(4,506
)
    
1,947
      
(1,683
)
    
3,284
  
Estimated noncontrolling interest effects of above
    
901
      
(2,060
)
    
1,543
      
(1,159
)
    
1,639
  
Non-GAAP Net Income
  
$
32,935
    
$
24,364
    
$
23,078
    
$
57,299
    
$
42,307
  
 
                                        
Weighted-average number of common shares outstanding - Diluted
    
61,507
      
61,470
      
61,145
      
61,489
      
61,041
  
 
                                        
Reconciliation of GAAP to Non-GAAP EPS:
                                        
 
                                        
GAAP diluted earnings per share
  
$
0.65
    
$
0.23
    
$
0.45
    
$
0.88
    
$
0.83
  
Effects of the above adjustments
  
$
(0.11
)
  
$
0.17
    
$
(0.07
)
  
$
0.05
    
$
(0.14
)
Non-GAAP diluted earnings per share
  
$
0.54
    
$
0.40
    
$
0.38
    
$
0.93
    
$
0.69