Photronics, Inc. (NASDAQ:PLAB) Q1 2024 Earnings Conference Call February 21, 2024 8:30 AM ET Company Participants Richelle Burr - Executive Vice President, Chief Administrative Officer Frank Lee - Chief Executive Officer John Jordan - Executive Vice President, Chief Financial Officer Christopher Progler - Executive Vice President, Chief Technology Officer, Strategic Planning Conference Call Participants Tom Diffely - D.A. Davidson & Company Operator Good day, ladies and gentlemen. Thank you for standing by. ...

Exhibit 99.2 PHOTRONICS, INC. Condensed Consolidated Statements of Income (in thousands, except per share amounts) (Unaudited) | | | | | Three Months Ended | | | | --- | --- | --- | --- | --- | --- | --- | | | | January 28, | | October 31, | | January 29, | | | | 2024 | | 2023 | | 2023 | | Revenue | $ | 216,334 | $ | 227,473 | $ | 211,090 | | Cost of goods sold | | 137,079 | | 142,591 | | 135,013 | | Gross Profit | | 79,255 | | 84,882 | | 76,077 | | Operating Expenses: | | | | | | | | Selling, general and a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended October 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission file number 0-15451 PHOTRONICS, INC. (Exact name of registrant as specified in its charter) Connecticut 06-0854886 (State or other jurisdictio ...

Photronics, Inc. (NASDAQ:PLAB) Q4 2023 Earnings Conference Call December 13, 2023 8:30 AM ET Company Participants Richelle Burr - EVP, Chief Administrative Officer Frank Lee - Chief Executive Officer John Jordan - EVP, Chief Financial Officer Chris Progler - EVP, Chief Technology Officer, Strategic Planning Conference Call Participants Tom Diffely - D.A. Davidson & Company Operator Good day and welcome to the Photronics Q4 FY ’23 Earnings Call. At this time all participants are in listen-only mode. Later we ...

Continued strong operating cash flow from income generation and working capital management Crypto and consumer products 11 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|------------------------------------------------------------------------|--- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission file number 001-39063 PHOTRONICS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpora ...

Financial Data and Key Metrics Changes - Revenue for the full year-to-date is up 8% compared to last year, with Q3 revenue at $224 million, a 2% increase year-over-year but a 2% decrease sequentially from Q2 [4][19] - Gross margins improved by 3% year-over-year, while operating margins increased nearly 4% [4][8] - Net income for the quarter was $27 million on a GAAP basis, or $0.44 per diluted share, and $31.6 million on a non-GAAP basis, or $0.51 per share [9] Business Line Data and Key Metrics Changes - Integrated Circuit (IC) revenue was $163.1 million, down 2% sequentially, with high-end IC revenue increasing due to strong foundry logic demand in Asia [7][20] - Flat Panel Display (FPD) revenue also decreased by 2% from the previous quarter, with strong AMOLED demand offset by declines in photomask for G10.5+ and LTPS displays [24] Market Data and Key Metrics Changes - The overall semiconductor market is expected to decline sharply in 2023 but is anticipated to gradually recover in 2024 [13] - The Photomask industry is expected to be flat or slightly down in 2023, with Photronics outperforming broader market indicators [13] Company Strategy and Development Direction - The company is focused on capital allocation strategies that prioritize profitable organic growth and investments in advanced technologies [6] - Photronics aims to leverage its technology leadership in AMOLED panels and maintain high utilization levels in its FPD fab operations [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term demand for Photomasks, driven by trends in AI, data centers, IoT, and automotive sectors [21][22] - The company is optimistic about revenue growth, margin expansion, and capital deployment to create shareholder value despite a challenging industry environment [10][22] Other Important Information - Operating cash flow was strong at $85.9 million, with year-to-date CAPEX at $78.8 million and a forecast of approximately $130 million for 2023 [9][10] - The company maintains a strong balance sheet with cash of $448.5 million and low debt levels, providing liquidity for growth investments [9] Q&A Session Summary Question: What are the driving factors behind the good margins despite demand slowdown? - Management attributed the strong margins to long-term purchase agreements with major customers, a favorable product mix, and effective cost management [28][30] Question: What does the future demand in mainstream look like? - Long-term demand for mainstream is expected to remain strong, with a potential recovery anticipated in Q4 and into 2024 [31][32] Question: How is the health of the Chinese market for both semi and FPD? - The Chinese business remains strong, with minimal impact from government restrictions [37] Question: What is the split of capital expenses for IC and FPD? - Capital expenses are primarily for expansion in Taiwan and China, with investments across all locations [38]

Q3 2023 Financial Results Conference Call September 6, 2023 Safe Harbor Statement 9/6/2023 2 -2% Q/Q +2% Y/Y PHOTRONICS, INC. PHOTRONICS, INC. PHOTRONICS, INC. PHOTRONICS, INC. $448.5M IC: -2% Q/Q, +1% Y/Y FPD: -2% Q/Q, +4% Y/Y $27.3M Short-term investments • Maintaining margins and strong cash flow as demand softens Q/Q; favorable long-term demand drivers remain • Investing in IC capacity to capitalize on market growth trends *Net income attributable to Photronics, Inc. shareholders • On pace for record ye ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission file number 001-39063 PHOTRONICS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpor ...

OTRONICS, I Total Revenue ($M) 69% 460.2 72% 593.0 74% 641.1 31% 203.6 28% 231.5 26% 229.5 663.8 824.5 870.6 2021 2022 Q2 2023 LTM IC FPD Total may differ due to rounding PHOTRONICS, INC. PHOTRONICS, INC. 5/24/2023 14 IC Photomask Revenue ($M) 641.1 65% 297.2 67% 397.7 70% 452.1 35% 163.0 33% 195.3 30% 189.0 460.2 593.0 PHOTRONICS, INC. PHOTRONICS, INC. Mainstream High-End High-End: 28nm and smaller; Total may differ due to rounding 2021 2022 Q2 2023 LTM PHOTRONICS, INC. PHOTRONICS, INC. 5/24/2023 18 Non-GA ...