Attached files
| file | filename |
|---|---|
| EX-99.3 - CONDENSED CONSOLIDATED BALANCE SHEETS - PHOTRONICS INC | exhibit99-3.htm |
| EX-99.2 - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - PHOTRONICS INC | exhibit99-2.htm |
| EX-99.5 - RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION - PHOTRONICS INC | exhibit99-5.htm |
| 8-K - CURRENT REPORT - PHOTRONICS INC | photronics_8k.htm |
| EX-99.1 - PRESS RELEASE DATED MAY 16, 2011 - PHOTRONICS INC | exhibit99-1.htm |
PHOTRONICS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows
(in thousands)
(Unaudited)
Condensed Consolidated Statements of Cash Flows
(in thousands)
(Unaudited)
| Six Months Ended | ||||||||
| May 1, | May 2, | |||||||
| 2011 | 2010 | |||||||
| Cash flows from operating activities: | ||||||||
| Net (loss) income | $ | (1,449 | ) | $ | 9,013 | |||
| Adjustments to reconcile net (loss) income to net cash | ||||||||
| provided by operating activities: | ||||||||
| Depreciation and amortization | 46,467 | 45,863 | ||||||
| Debt extinguishment loss | 23,504 | - | ||||||
| Consolidation, restructuring, and related credits | - | (5,059 | ) | |||||
| Changes in assets and liabilities and other | (4,532 | ) | (16,054 | ) | ||||
| Net cash provided by operating activities | 63,990 | 33,763 | ||||||
| Cash flows from investing activities: | ||||||||
| Purchases of property, plant and equipment | (39,254 | ) | (31,003 | ) | ||||
| Investment in joint venture | (8,498 | ) | - | |||||
| Proceeds from sales of investments and other | (250 | ) | 255 | |||||
| Proceeds from sale of facility | - | 12,880 | ||||||
| Increase in restricted cash | - | (1,250 | ) | |||||
| Net cash used in investing activities | (48,002 | ) | (19,118 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Proceeds from issuance of convertible debt | 115,000 | - | ||||||
| Proceeds from long-term borrowings | 17,000 | 26,622 | ||||||
| Repayments of long-term borrowings | (60,303 | ) | (40,302 | ) | ||||
| Payments of deferred financing fees | (4,145 | ) | (1,056 | ) | ||||
| Repurchase of common stock by subsidiary | (3,294 | ) | - | |||||
| Proceeds from exercise of share-based arrangements | 356 | 71 | ||||||
| Net cash provided by (used in) financing activities | 64,614 | (14,665 | ) | |||||
| Effect of exchange rate changes on cash | 6,565 | 2,891 | ||||||
| Net increase in cash and cash equivalents | 87,167 | 2,871 | ||||||
| Cash and cash equivalents, beginning of period | 98,945 | 88,539 | ||||||
| Cash and cash equivalents, end of period | $ | 186,112 | $ | 91,410 | ||||
| Supplemental disclosure of cash flow information: | ||||||||
| Capital lease obligation for purchase of equipment | $ | 21,248 | $ | - | ||||
| Common stock issued to extinguish debt | $ | 17,390 | $ | - | ||||
| Change in accrual for purchases of property, plant and equipment | $ | 3,079 | $ | 19,521 | ||||
| Investment in joint venture | $ | 1,750 | $ | - | ||||