EX-99.5 6 brhc20058525_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
  
   
July 30,
    
April 30,
    
July 31,
  
   
2023
    
2023
    
2022
  
Reconciliation of GAAP to Non-GAAP Non-operating (loss) Income:
                  
                   
GAAP Non-operating (loss) income, net
  
$
(911
)
  
$
13,571
    
$
3,641
  
FX (gain) loss
    
4,543
      
(10,718
)
    
(3,862
)
Non-GAAP Non-operating (loss) income, net
  
$
3,632
    
$
2,853
    
$
(221
)
                         
                         
Reconciliation of GAAP to Non-GAAP Income tax provision:
                        
                         
GAAP Income tax provision
  
$
16,098
    
$
21,343
    
$
18,146
  
Estimated tax effects of FX (gain) loss
    
(1,193
)
    
2,823
      
955
  
Non-GAAP Income tax provision
  
$
17,291
    
$
18,520
    
$
17,191
  
                         
                         
Reconciliation of GAAP to Non-GAAP Noncontrolling interests:
                        
                         
GAAP Noncontrolling interests
  
$
21,296
    
$
19,344
    
$
17,994
  
Estimated noncontrolling interest effects of above
    
1,328
      
901
      
527
  
                         
Non-GAAP Noncontrolling interests
  
$
19,968
    
$
18,443
    
$
17,467
  
                         
                         
Reconciliation of GAAP to Non-GAAP Net Income:
                        
                         
GAAP Net Income
  
$
26,959
    
$
39,929
    
$
31,230
  
FX (gain) loss
    
4,543
      
(10,718
)
    
(3,862
)
Estimated tax effects of above
    
(1,193
)
    
2,823
      
955
  
Estimated noncontrolling interest effects of above
    
1,328
      
901
      
527
  
Non-GAAP Net Income
  
$
31,637
    
$
32,935
    
$
28,850
  
                         
Weighted-average number of common shares outstanding - Diluted
    
61,974
      
61,507
      
61,299
  
                         
Reconciliation of GAAP to Non-GAAP EPS:
                        
                         
GAAP diluted earnings per share
  
$
0.44
    
$
0.65
    
$
0.51
  
Effects of the above adjustments
  
$
0.07
    
$
(0.11
)
  
$
(0.04
)
Non-GAAP diluted earnings per share
  
$
0.51
    
$
0.54
    
$
0.47