Photronics (PLAB) 10-K 7 Jan 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Nov. 01, 2015	Dec. 29, 2015	May. 03, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	PHOTRONICS INC
Entity Central Index Key	810,136
Current Fiscal Year End Date	--11-01
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 509,665,233
Entity Common Stock, Shares Outstanding		66,982,870
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Nov. 1, 2015

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 01, 2015	Nov. 02, 2014
Current assets:
Cash and cash equivalents	$ 205,867	$ 192,929
Accounts receivable, net of allowance of $3,301 in 2015 and $3,078 in 2014	110,056	94,515
Inventories	24,157	22,478
Deferred income taxes	3,354	7,223
Other current assets	20,680	19,347
Total current assets	364,114	336,492
Property, plant and equipment, net	547,284	550,069
Investment in joint venture	93,021	93,122
Intangible assets, net	24,616	30,294
Deferred income taxes	11,908	11,036
Other assets	4,612	8,170
Total assets	1,045,555	1,029,183
Current liabilities:
Current portion of long-term borrowings	65,495	10,381
Accounts payable	79,143	77,779
Payables - related parties	8,840	8,716
Accrued liabilities	39,214	42,241
Total current liabilities	192,692	139,117
Long-term borrowings	67,120	131,805
Deferred income taxes	4,388	3,045
Other liabilities	19,289	15,722
Total liabilities	$ 283,489	$ 289,689
Commitments and contingencies
Equity:
Preferred stock, $0.01 par value, 2,000 shares authorized, none issued and outstanding	$ 0	$ 0
Common stock, $0.01 par value, 150,000 shares authorized, 66,602 shares issued and outstanding at November 1, 2015, and 65,930 shares issued and outstanding at November 2, 2014	666	659
Additional paid-in capital	526,402	520,182
Retained earnings	130,060	85,435
Accumulated other comprehensive income (loss)	(10,573)	21,774
Total Photronics, Inc. shareholders' equity	646,555	628,050
Noncontrolling interests	115,511	111,444
Total equity	762,066	739,494
Total liabilities and equity	$ 1,045,555	$ 1,029,183

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Nov. 01, 2015	Nov. 02, 2014
Current assets:
Accounts receivable, allowance	$ 3,301	$ 3,078
Equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	2,000	2,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000	150,000
Common stock, shares issued (in shares)	66,602	65,930
Common stock, shares outstanding (in shares)	66,602	65,930

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Nov. 01, 2015		Nov. 02, 2014		Nov. 03, 2013
Consolidated Statements of Income [Abstract]
Revenues	$ 524,206	[1]	$ 455,527	[2],[3]	$ 422,180
Cost and expenses:
Cost of sales	(381,070)		(355,181)		(322,540)
Selling, general and administrative	(48,983)		(49,638)		(48,213)
Research and development	(21,920)		(21,913)		(20,758)
Operating income	72,233		28,795		30,669
Other income (expense):
Gain on acquisition	0		16,372		0
Interest expense	(4,990)		(7,247)		(7,756)
Interest and other income (expense), net	2,797		3,410		3,892
Income before income tax provision	70,040		41,330		26,805
Income tax provision	(13,181)		(9,295)		(7,229)
Net income	56,859	[1]	32,035	[2],[3]	19,576
Net income attributable to noncontrolling interests	(12,234)		(6,039)		(1,610)
Net income attributable to Photronics, Inc. shareholders	$ 44,625	[1]	$ 25,996	[2],[3]	$ 17,966
Earnings per share:
Basic (in dollars per share)	$ 0.67	[1]	$ 0.42	[2],[3]	$ 0.30
Diluted (in dollars per share)	$ 0.63	[1]	$ 0.41	[2],[3]	$ 0.29
Weighted-average number of common shares outstanding:
Basic (in shares)	66,331		61,779		60,644
Diluted (in shares)	78,383		66,679		61,599
[1]	Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.
[2]	Includes expenses of $2.5 million, net of tax, related to the acquisition of DPTT.
[3]	Includes non-cash gain of $16.4 million, net of tax, related to the acquisition of DPTT.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Nov. 01, 2015		Nov. 02, 2014		Nov. 03, 2013
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 56,859	[1]	$ 32,035	[2],[3]	$ 19,576
Other comprehensive income (loss), net of tax of $0:
Foreign currency translation adjustments	(40,154)		(5,916)		9,805
Amortization of cash flow hedge	128		128		128
Other	(381)		(41)		54
Net current period other comprehensive income (loss), net of tax	(40,407)		(5,829)		9,987
Comprehensive income	16,452		26,206		29,563
Less: comprehensive income attributable to noncontrolling interests	4,174		5,238		858
Comprehensive income attributable to Photronics, Inc. shareholders	$ 12,278		$ 20,968		$ 28,705
[1]	Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.
[2]	Includes expenses of $2.5 million, net of tax, related to the acquisition of DPTT.
[3]	Includes non-cash gain of $16.4 million, net of tax, related to the acquisition of DPTT.

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 03, 2013
Consolidated Statements of Comprehensive Income [Abstract]
Other comprehensive income (loss), tax	$ 0	$ 0	$ 0

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Non-Controlling Interests [Member]	Total
Balance at Oct. 28, 2012	$ 602	$ 493,411	$ 41,473	$ 15,900	$ 34,615	$ 586,001
Balance (in shares) at Oct. 28, 2012	60,213
Net income	$ 0	0	17,966	0	1,610	19,576
Other comprehensive income loss	0	0	0	10,740	(753)	9,987
Sale of common stock through employee stock option and purchase plan	$ 4	880	0	0	0	884
Sale of common stock through employee stock option and purchase plan (in shares)	397
Restricted stock awards vestings and expense	$ 2	1,281	0	0	0	1,283
Restricted stock awards vestings and expense (in shares)	158
Share-based compensation expense	$ 0	2,692	0	0	0	2,692
Common stock warrants exercised	$ 3	(3)	0	0	0	0
Common stock warrants exercised (in shares)	315
Repurchase of common stock of subsidiary	$ 0	600	0	(237)	(32,955)	(32,592)
Balance at Nov. 03, 2013	$ 611	498,861	59,439	26,403	2,517	587,831
Balance (in shares) at Nov. 03, 2013	61,083
Net income	$ 0	0	25,996	0	6,039	32,035	[1],[2]
Other comprehensive income loss	0	0	0	(5,028)	(801)	(5,829)
Sale of common stock through employee stock option and purchase plan	$ 3	1,424	0	0	0	1,427
Sale of common stock through employee stock option and purchase plan (in shares)	337
Restricted stock awards vestings and expense	$ 2	1,295	0	0	0	1,297
Restricted stock awards vestings and expense (in shares)	172
Share-based compensation expense	$ 0	2,774	0	0	0	2,774
Acquisition of DPTT	0	(6,291)	0	410	105,403	99,522
Conversion of debt to common stock	$ 43	22,011	0	0	0	22,054
Conversion of debt to common stock (in shares)	4,338
Repurchase of common stock of subsidiary	$ 0	108	0	(11)	(1,714)	(1,617)
Balance at Nov. 02, 2014	$ 659	520,182	85,435	21,774	111,444	739,494
Balance (in shares) at Nov. 02, 2014	65,930
Net income	$ 0	0	44,625	0	12,234	56,859	[3]
Other comprehensive income loss	0	0	0	(32,347)	(8,060)	(40,407)
Sale of common stock through employee stock option and purchase plan	$ 5	2,505	0	0	0	2,510
Sale of common stock through employee stock option and purchase plan (in shares)	513
Restricted stock awards vestings and expense	$ 2	1,064	0	0	0	1,066
Restricted stock awards vestings and expense (in shares)	159
Share-based compensation expense	$ 0	2,623	0	0	0	2,623
Repurchase of common stock of subsidiary	0	28	0	0	(107)	(79)
Balance at Nov. 01, 2015	$ 666	$ 526,402	$ 130,060	$ (10,573)	$ 115,511	$ 762,066
Balance (in shares) at Nov. 01, 2015	66,602
[1]	Includes expenses of $2.5 million, net of tax, related to the acquisition of DPTT.
[2]	Includes non-cash gain of $16.4 million, net of tax, related to the acquisition of DPTT.
[3]	Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Nov. 01, 2015		Nov. 02, 2014		Nov. 03, 2013
Cash flows from operating activities:
Net income	$ 56,859	[1]	$ 32,035	[2],[3]	$ 19,576
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property, plant and equipment	75,684		72,859		65,994
Amortization of deferred financing costs and intangible assets	6,729		7,277		6,948
Gain on acquisition	0		(16,372)		0
Share-based compensation	3,689		4,071		3,975
Deferred income taxes	3,401		4,215		(266)
Changes in assets and liabilities:
Accounts receivable	(21,815)		5,271		2,400
Inventories	(2,893)		(2,552)		(891)
Other current assets	(2,557)		1,781		(2,744)
Accounts payable, accrued liabilities and other	14,098		(12,224)		4,409
Net cash provided by operating activities	133,195		96,361		99,401
Cash flows from investing activities:
Purchases of property, plant and equipment	(104,033)		(91,085)		(63,792)
Cash from acquisition	0		4,508		0
Purchases of intangible assets	(771)		(364)		(2,173)
Other	499		(544)		(272)
Net cash used in investing activities	(104,305)		(87,485)		(66,237)
Cash flows from financing activities:
Repayments of long-term borrowings	(9,571)		(29,782)		(8,314)
Purchase of common stock of subsidiary	0		0		(32,374)
Proceeds from share-based arrangements	2,651		1,298		884
Payments of deferred financing fees	0		(346)		(40)
Other	(179)		(711)		0
Net cash used in financing activities	(7,099)		(29,541)		(39,844)
Effects of exchange rate changes on cash and cash equivalents	(8,853)		(2,021)		4,252
Net increase (decrease) in cash and cash equivalents	12,938		(22,686)		(2,428)
Cash and cash equivalents at beginning of year	192,929		215,615		218,043
Cash and cash equivalents at end of year	205,867		192,929		215,615
Supplemental disclosure of non-cash information:
Accrual for property, plant and equipment purchased during year	25,858		28,672		17,502
Noncash net assets from acquisition	0		110,211		0
Conversion of debt to common stock	0		22,054		0
Capital lease obligation for purchases of property, plant and equipment	$ 0		$ 0		$ 26,356
[1]	Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.
[2]	Includes expenses of $2.5 million, net of tax, related to the acquisition of DPTT.
[3]	Includes non-cash gain of $16.4 million, net of tax, related to the acquisition of DPTT.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Nov. 01, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Photronics, Inc. and its subsidiaries (the "Company" or "Photronics") is one of the world's leading manufacturers of photomasks, which are high precision photographic quartz plates containing microscopic images of electronic circuits. Photomasks are a key element in the manufacture of semiconductors and flat panel displays ("FPDs"), and are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication of integrated circuits ("ICs") and a variety of FPDs and, to a lesser extent, other types of electrical and optical components. The Company currently operates principally from nine manufacturing facilities; two of which are located in Europe, three in Taiwan, one in Korea, and three in the United States. Consolidation The accompanying consolidated financial statements include the accounts of Photronics, Inc. and its majority-owned subsidiaries that the Company controls. All intercompany balances and transactions have been eliminated in consolidation. Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect amounts reported in them. Estimates are based on historical experience and on various assumptions that are believed to be reasonable under the circumstances. The Company's estimates are based on the facts and circumstances available at the time they are made. Actual results reported by the Company may differ from such estimates. The Company reviews these estimates periodically and reflects the effect of revisions in the period in which they are determined. Derivative Instruments and Hedging Activities The Company records derivatives in the consolidated balance sheets as assets or liabilities, measured at fair value. The Company does not engage in derivative instruments for speculative purposes. Gains or losses resulting from changes in the values of those derivatives are reflected in earnings, or as accumulated other comprehensive income or loss, a separate component of equity, depending on the use of the derivatives and whether they qualify for hedge accounting. In order to qualify for hedge accounting, among other criteria, a derivative must be a hedge of an interest rate, price, foreign currency exchange rate, or credit risk that is expected to be highly effective at the inception of the hedge, be highly effective in achieving offsetting changes in the fair value or cash flows of the hedged item during the term of the hedge and formally documented at the inception of the hedge. In general, the types of risks the Company has hedged are those related to the variability of future cash flows caused by movements in foreign currency exchange and interest rates. The Company documents its risk management strategy and hedge effectiveness at the inception of, and during the term of, each hedge. Fiscal Year The Company's fiscal year ends on the Sunday closest to October thirty-first, and, as a result, a 53-week year occurs every 5 to 6 years. Fiscal years 2015 and 2014 each included 52 weeks, while fiscal year 2013 included 53 weeks. Cash and Cash Equivalents Cash and cash equivalents include cash and highly liquid investments purchased with an original maturity of 3 months or less. The carrying values of cash equivalents approximate their fair values due to the short-term maturities of these instruments. Inventories Inventories are primarily comprised of raw materials and are stated at the lower of cost, determined under the first-in, first-out ("FIFO") method, or market. Property, Plant and Equipment Property, plant and equipment, except as explained below under "Impairment of Long-Lived Assets," are stated at cost less accumulated depreciation and amortization. Repairs and maintenance, as well as renewals and replacements of a routine nature, are charged to operations as incurred, while those that improve or extend the lives of existing assets are capitalized. Upon sale or other disposition, the cost of the asset and accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in earnings. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the related assets. Buildings and improvements are depreciated over 15 to 40 years, machinery and equipment over 3 to 10 years and, furniture, fixtures and office equipment over 3 to 5 years. Leasehold improvements are amortized over the life of the lease or the estimated useful life of the improvement, whichever is less. Judgment and assumptions are used in establishing estimated useful lives and depreciation periods. The Company also uses judgment and assumptions as it periodically reviews property, plant and equipment for any potential impairment in carrying values whenever events such as a significant industry downturn, plant closures, technological obsolescence, or other change in circumstances indicate that their carrying amounts may not be recoverable. Intangible Assets Intangible assets consist primarily of a technology license agreement, a supply agreement and acquisition-related intangibles. These assets, except as explained below, are stated at fair value as of the date acquired less accumulated amortization. Amortization is calculated based on the estimated useful lives of the assets, which range from 3 to 15 years, using the straight-line method or another method that more fairly represents the utilization of the assets. The Company periodically evaluates the remaining useful lives of its intangible assets to determine whether events or circumstances warrant a revision to the remaining periods of amortization. In the event that the estimate of an intangible asset’s remaining useful life has changed, the remaining carrying amount of the intangible asset is amortized prospectively over that revised remaining useful life. If it is determined that an intangible asset has an indefinite useful life, that intangible asset would be subject to impairment testing annually or whenever events or circumstances indicate that the carrying value may not, based on future undiscounted cash flows or market factors, be recoverable, and an impairment loss would be recorded in the period so determined. The measurement of the impairment loss would be based on the fair value of the intangible asset. Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on the Company's judgment and estimates of undiscounted future cash flows resulting from the use of the assets and their eventual disposition. Measurement of an impairment loss for long-lived assets that management expects to hold and use is based on the fair value of the assets. The carrying values of assets determined to be impaired are reduced to their estimated fair values. Fair values of any impaired assets would generally be determined using a market or income approach. Business Combinations When acquiring other businesses or participating in mergers or joint ventures in which the Company is deemed to be the acquirer, the Company generally recognizes identifiable assets acquired, liabilities assumed and any noncontrolling interests at their acquisition date fair values, and separately from any goodwill that may be required to be recognized. Goodwill, when recognizable, would be measured as the excess amount of any consideration transferred, which is generally measured at fair value, over the acquisition date fair values of the identifiable assets acquired and liabilities assumed. Accounting for such transactions requires the Company’s management to make significant assumptions and estimates and, although the Company believes any estimates and assumptions it makes to be reasonable and appropriate at the time they are made, unanticipated events and circumstances may arise that affect their accuracy, causing actual results to differ from those estimated by the Company. When required, the Company will adjust the values of the assets acquired and liabilities assumed against the acquisition gain or goodwill, as initially recorded, for a period of up to one year after the transaction. Costs incurred to effect a merger or acquisition, such as legal, accounting, valuation and other third party costs, as well as internal general and administrative costs incurred are charged to expense in the periods incurred. Costs incurred to issue any debt and equity securities are recognized in accordance with other applicable generally accepted accounting principles. Investments in Joint Ventures The financial results of investments in joint ventures of which the Company has a controlling financial interest are included in the Company’s consolidated financial statements. Investments in joint ventures over which the Company has the ability to exercise significant influence and that, in general, are at least 20 percent owned are accounted for under the equity method. An impairment loss would be recognized whenever a decrease in the fair value of such an investment below its carrying amount is determined to be other than temporary. In judging "other than temporary," the Company would consider the length of time and the extent to which the fair value of the investment has been less than the carrying amount of the investment, the near-term and longer-term operating and financial prospects of the investee, and the Company's longer-term intent of retaining its investment in the investee. Variable Interest Entities The Company accounts for the investments it makes in certain legal entities in which equity investors do not have 1) sufficient equity at risk for the legal entity to finance its activities without additional subordinated financial support or, 2) as a group, the holders of the equity investment at risk do not have either the power, through voting or similar rights, to direct the activities of the legal entity that most significantly impact the entity’s economic performance or, 3) the obligation to absorb the expected losses of the legal entity or the right to receive expected residual returns of the legal entity. These certain legal entities are referred to as “variable interest entities”, or “VIEs”. The Company would consolidate the results of any such entity in which it determined that it has a controlling financial interest. The Company would have a “controlling financial interest” in such an entity when the Company has both the power to direct the activities that most significantly affect the VIE’s economic performance and the obligation to absorb the losses of, or right to receive the benefits from, the VIE that could be potentially significant to the VIE. On a quarterly basis, the Company reassesses whether it has a controlling financial interest in any investments it has in these certain legal entities. The Company accounts for investments it makes in VIEs in which it has determined that it does not have a controlling financial interest but has significant influence over and holds at least a 20 percent ownership interest using the equity method. Any such investment not meeting the parameters to be accounted under the equity method would be accounted for using the cost method unless the investment had a readily determinable fair value, at which it would then be reported. Income Taxes The income tax provision is computed on the basis of the various tax jurisdictions' income or loss before income taxes. Deferred income taxes reflect the tax effects of differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as the tax effects of net operating losses and tax credit carryforwards. The Company uses judgment and assumptions to determine if valuation allowances for deferred income tax assets are required, if their realization is not more likely than not, by considering future market growth, forecasted operations, future taxable income, and the amount of earnings in the tax jurisdictions in which it operates. The Company considers income taxes in each of the tax jurisdictions in which it operates in order to determine its effective income tax rate. Current income tax exposure is identified and temporary differences resulting from differing treatments of items for tax and financial reporting purposes are assessed. These differences result in deferred tax assets and liabilities, which are included in the Company's consolidated balance sheets. Additionally, the Company evaluates the potential realization of deferred income tax assets from future taxable income and establishes valuation allowances if their realization is deemed not more likely than not. Accordingly, income taxes charged against earnings may have been impacted by changes in the valuation allowance. Significant management estimates and judgment are required in determining any valuation allowances recorded against net deferred tax assets. The Company accounts for uncertain tax positions by recording a liability for unrecognized tax benefits resulting from uncertain tax positions taken, or expected to be taken, in its tax returns. The Company includes any applicable interest and penalties related to uncertain tax positions in its income tax provision. Earnings Per Share Basic earnings per share ("EPS") is based on the weighted-average number of common shares outstanding for the period, excluding any dilutive common share equivalents. Diluted EPS reflects the potential dilution that could occur if certain share-based payment awards or financial instruments were exercised, earned or converted. Share-Based Compensation The Company recognizes share-based compensation expense over the service period that the awards are expected to vest. Share-based compensation expense includes the estimated effects of forfeitures, which are adjusted over the requisite service period to the extent actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized in the period of change and will also impact the amount of expense to be recognized in future periods. Determining the appropriate option pricing model, calculating the grant date fair value of share-based awards and estimating forfeiture rates requires considerable judgment, including the estimations of stock price volatility and the expected term of options granted. The Company uses the Black-Scholes option pricing model to value employee stock options. The Company estimates stock price volatility based on daily averages of its historical volatility over a term approximately equal to the estimated time period the grant will remain outstanding. The expected term of options and forfeiture rate assumptions are derived from historical data. Research and Development Research and development costs are expensed as incurred, and consist primarily of global development efforts related to high-end process technologies for advanced sub-wavelength reticle solutions for IC photomask technologies. Research and development expenses also include the amortization of the carrying value of a technology license agreement with Micron Technology, Inc. (“Micron”). Under this technology license agreement, the Company has access to certain photomask technology developed by Micron. Foreign Currency Translation The Company's international subsidiaries maintain their accounts in their respective local currencies. Assets and liabilities of such subsidiaries are translated to U.S. dollars at year-end exchange rates. Income and expenses are translated at average rates of exchange prevailing during the year. Foreign currency translation adjustments are accumulated and reported in accumulated other comprehensive income, a component of equity. The effects of changes in exchange rates on foreign currency transactions, which are included in interest and other income (expense), net were a net gain of $2.5 million, $1.4 million and $0.5 million in fiscal years 2015, 2014 and 2013, respectively. Noncontrolling Interests Noncontrolling interests represents the minority shareholders' proportionate share in the equity of the Company's two majority-owned subsidiaries, Photronics DNP Mask Corporation ("PDMC") in Taiwan, of which noncontrolling interests owned 49.99% as of November 1, 2015 and November 2, 2014 and PK Ltd. ("PKL") in Korea of which noncontrolling shareholders owned approximately 0.2% and 0.3% as of November 1, 2015 and November 2, 2014, respectively. The effect on its equity of the change in the Company’s ownership interest in these subsidiaries is presented in Note 13. Revenue Recognition The Company recognizes revenue when there is persuasive evidence that an arrangement exists, delivery has occurred, the sales price is fixed or determinable, and collectability is reasonably assured. Delivery is determined by the shipping terms of the individual sales transactions. For sales with FOB destination or similar shipping terms, delivery occurs when the Company’s product reaches its destination and is received by the customer. For sales with FOB shipping point terms, delivery occurs when the Company’s product is received by the common carrier. The Company uses judgment when estimating the effect on revenue of discounts and sales incentives, both of which are accrued when the related revenue is recognized. Warranties and Other Post Shipment Obligations Sales Taxes

ACQUISITION OF DNP PHOTOMASK TE

ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD.	12 Months Ended
	Nov. 01, 2015
ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD. [Abstract]
ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD.	NOTE 2 – ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD. On April 4, 2014, DPTT merged into PSMC, the Company’s IC manufacturing subsidiary located in Taiwan, to form PDMC. Throughout this report the merger of DPTT into PSMC is referred to as the “DPTT Acquisition.” In connection with the DPTT Acquisition, the Company transferred consideration with a fair value of $98.3 million. The Company owns 50.01 percent of PDMC and includes its financial results in its consolidated financial statements, while DNP owns the remaining 49.99 percent of PDMC. The Company also has the ability to appoint the majority of the directors of PDMC, including the chairman of its board of directors, select its management responsible for implementing its policies and procedures, and establish its operating and capital decisions and policies. Photronics determined it has control of PDMC by virtue of its tie-breaking voting rights within PDMC’s Board of Directors, thereby giving it the power to direct the activities of PDMC that most significantly impact its economic performance, including its decision making authority in the ordinary course of business. The DPTT Acquisition was the result of the Company’s desire to combine the strengths in logic and memory photomask technologies of PSMC and DPTT in order to enhance its capability with customers in the region. The DPTT Acquisition met the conditions of a business combination as defined by Accounting Standards Codification (“ASC”) 805 and, as such, is accounted for under ASC 805 using the acquisition method of accounting. ASC 805 defines the three elements of a business as Input, Process and Output. As a result of the DPTT Acquisition, Photronics acquired the machinery and equipment utilized in the processes to manufacture product, the building that houses the entire operation and the processes needed to manufacture the product, all previously owned by DPTT. The former DPTT employees hired by Photronics in connection with the acquisition brought with them the skills, experience and know-how necessary to provide the operational processes that, when applied to the acquired assets, represent processes being applied to inputs to create outputs. Having met all three elements of a business as defined in ASC 805, the Company determined that the DPTT Acquisition should be accounted for as a business combination. The following table summarizes the fair values of assets acquired and liabilities assumed of DPTT, the fair value of the noncontrolling interests and consideration for DPTT at the acquisition date. Cash and cash equivalents $ 4,508 Accounts receivable (gross amount of $28,560, of which $500 is estimated to be uncollectable) 28,060 Inventory 1,279 Deferred tax asset 9,787 Other current assets 11,517 Property, plant and equipment 95,431 Identifiable intangible assets 1,552 Other long-term assets 1,328 Accounts payable and accrued expenses (32,410 ) Deferred tax liability (3,042 ) Other long-term liabilities (3,291 ) Total net assets acquired 114,719 Noncontrolling interests retained by DNP 57,348 57,371 Consideration – 49.99% of fair value of PSMC 40,999 Gain on acquisition $ 16,372 In addition to recording the fair values of the net assets acquired, the Company also recorded a gain on acquisition of $16.4 million in the three month period ended May 4, 2014, in accordance with ASC 805 using the acquisition method of accounting. The gain on acquisition was primarily due to the difference between the market values of the acquired real estate and personal property exceeding the fair value of the consideration transferred. In addition, a deferred tax liability of $3.0 million was recorded in the opening balance sheet, which had the effect of reducing the gain on acquisition to $16.4 million. Prior to recording the gain, the Company reassessed whether it had correctly identified all of the assets acquired and all of the liabilities assumed. Additionally, the Company also reviewed the procedures used to measure the amounts of the identifiable assets acquired, liabilities assumed and consideration transferred. The fair value of the first component of consideration represents 49.99 percent of the fair value of PSMC, and is based on recent prices paid by the Company to acquire outstanding shares of PSMC (prior to the acquisition). As a result of the merger, the Company acquired the net assets of DPTT having a fair value of $114.7 million, less noncontrolling interests of $57.3 million retained by DNP, and transferred consideration with a fair value of $41.0 million, resulting in a gain of $16.4 million. The fair value of the total consideration transferred as of the acquisition date was $98.3 million, comprised of the 49.99% noncontrolling interest in DPTT of $57.3 million, and 49.99% of the fair value of PSMC of $41.0 million (112.9 million shares, or 49.99% of the outstanding common stock of PSMC). We estimated the $114.7 million fair value of DPTT as of the acquisition date by applying an income approach as our valuation technique. Our income approach followed a discounted cash flow method, which applied our best estimates of future cash flows and an estimated terminal value discounted to present value at a rate of return taking into account the relative risk of the cash flows. To confirm the reasonableness of the value derived from the income approach, we also analyzed the values of comparable companies which are publicly traded. The acquisition date fair value of the property, plant and equipment of DPTT was $95.4 million, which was determined by utilizing the cost and, to a lesser extent, the market approach, based on an in-use premise of value. Inputs utilized by the Company to determine fair values of DPTT’s property, plant and equipment included a cost approach, which was adjusted for depreciation and condition for equipment, and adjusted for depreciation and local market conditions for real property. The noncontrolling interest of DPTT was calculated using the 49.99% of its total fair value of $114.7 million. The Company also used a market approach to corroborate the enterprise value of DPTT. This fair value measurement is based on significant inputs that are not observable in the market and thus represents a fair value measurement categorized within Level 3 of the fair value hierarchy. Key assumptions include local and current construction replacement cost multipliers, amounts of ancillary replacement costs, physical deterioration, and economic and functional obsolescence to adjust the current replacement costs by, as well as the estimated economic lives of the assets. Identifiable intangible assets acquired were primarily customer relationships, which represent the fair value of relationships and agreements DPTT had in place at the date of the merger. The customer relationships had a fair value of $1.5 million at the acquisition date, determined by using the multi-period excess earnings method, and are amortized over a twelve year estimated useful life. The acquisition date fair value of the remainder of the identifiable assets acquired and liabilities assumed were equivalent to, or did not materially differ from, their carrying values. Acquisition costs related to the merger were $2.5 million and $0.8 million in fiscal year 2014 and fiscal year 2013, respectively, and are included in selling, general and administrative expense in the consolidated statements of income. The Company did not incur any acquisition related costs in fiscal year 2015. Revenues and net income of PDMC included in the Company’s financial results from the April 4, 2014 acquisition date through November 2, 2014, were $101.8 million and $6.0 million, respectively. Unaudited Pro Forma Financial Information The following unaudited pro forma financial information presents financial information as if the DPTT acquisition had occurred as of the beginning of fiscal year 2013. The pro forma earnings for fiscal years 2014 and 2013 were adjusted to exclude the above mentioned $2.5 million and $0.8 million non-recurring acquisition related costs and the gain on acquisition of $16.4 million. Other material non-recurring pro forma adjustments made to arrive at the below earnings amounts included the add back of additional depreciation recorded against DPTT long-lived assets of $6.6 million and $12.9 million for fiscal years 2014 and 2013, respectively. The pro forma information presented does not purport to represent results that would have been achieved had the merger occurred as of the beginning of the earliest period presented, or to be indicative of the Company’s future financial performance. Year Ended November 2, 2014 November 3, 2013 Revenues $ 499,968 $ 514,265 Net income $ 23,969 $ 34,922 Net income attributable to Photronics, Inc. shareholders $ 12,169 $ 21,902 Diluted earnings per share $ 0.19 $ 0.36

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Nov. 01, 2015
PROPERTY, PLANT AND EQUIPMENT [Abstract]
PROPERTY, PLANT AND EQUIPMENT	NOTE 3 - PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consists of the following: November 1, 2015 November 2, 2014 Land $ 8,172 $ 8,598 Buildings and improvements 121,472 124,787 Machinery and equipment 1,458,623 1,367,691 Leasehold improvements 18,856 20,165 Furniture, fixtures and office equipment 12,700 12,086 Construction in progress 6,657 81,351 1,626,480 1,614,678 Less accumulated depreciation and amortization 1,079,196 1,064,609 $ 547,284 $ 550,069 Property under capital leases are included in above property, plant and equipment as follows: November 1, 2015 November 2, 2014 Machinery and equipment $ 56,245 $ 56,245 Less accumulated amortization 16,054 10,430 $ 40,191 $ 45,815

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Nov. 01, 2015
INTANGIBLE ASSETS [Abstract]
INTANGIBLE ASSETS	NOTE 4 - INTANGIBLE ASSETS Intangible assets include assets related to the investment to form the MP Mask joint venture and other finite lived intangible assets. Amortization expense of intangible assets was $6.0 million, $5.8 million and $5.5 million in fiscal years 2015, 2014 and 2013, respectively. Intangible assets consist of: As of November 1, 2015 Gross Amount Accumulated Amortization Net Amount Technology license agreement $ 59,616 $ 37,426 $ 22,190 Customer relationships 8,616 7,229 1,387 Supply agreements 6,959 6,828 131 Software and other 6,577 5,669 908 $ 81,768 $ 57,152 $ 24,616 As of November 2, 2014 Technology license agreement $ 59,616 $ 33,451 $ 26,165 Customer relationships 8,716 6,394 2,322 Supply agreements 6,959 6,605 354 Software and other 6,223 4,770 1,453 $ 81,514 $ 51,220 $ 30,294 The weighted-average amortization period for intangible assets acquired in fiscal year 2015 is three years, which is comprised of software and other intangible assets that have weighted-average amortization periods of three years. The weighted-average amortization period for intangible assets acquired in fiscal year 2014 is nine years, which is comprised of customer relationships and software and other intangible assets Intangible asset amortization over the next five years is estimated to be as follows: Fiscal Years: 2016 $ 4,928 2017 4,410 2018 4,410 2019 4,410 2020 4,410

JOINT VENTURE, TECHNOLOGY LICEN

JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC.	12 Months Ended
	Nov. 01, 2015
JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC. [Abstract]
JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC.	NOTE 5 - JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC. In May 2006, Photronics and Micron Technology, Inc. ("Micron") entered into the MP Mask joint venture (“MP Mask”), which develops and produces photomasks for leading-edge and advanced next generation semiconductors. At the time of the formation of the joint venture, the Company also entered into an agreement to license photomask technology developed by Micron and certain supply agreements. This joint venture is a variable interest entity ("VIE") (as that term is defined in the ASC) because all costs of the joint venture are passed on to the Company and Micron through purchase agreements they have entered into with the joint venture, and it is dependent upon the Company and Micron for any additional cash requirements. On a quarterly basis the Company reassesses whether its interest in MP Mask gives it a controlling financial interest in this VIE. The purpose of this quarterly reassessment is to identify the primary beneficiary (which is defined in the ASC as the entity that consolidates a VIE) of the VIE. As a result of the reassessments in fiscal year 2015, the Company determined that Micron is still the primary beneficiary of the VIE, by virtue of its tie-breaking voting rights within MP Mask’s Board of Managers, thereby giving it the power to direct the activities of MP Mask that most significantly impact its economic performance, including its decision making authority in the ordinary course of business and its purchasing the majority of products produced by the VIE. The Company has utilized MP Mask for both high-end IC photomask production and research and development purposes. MP Mask charges its variable interest holders based on their actual usage of its facility and charges separately for any research and development activities it engages in at the requests of its owners. MP Mask is governed by a Board of Managers, appointed by Micron and the Company. Since MP Mask's inception, Micron, as a result of its majority ownership, has held majority voting power on the Board of Managers. The voting power held by each party is subject to change as ownership interests change. Under the MP Mask joint venture operating agreement, the Company may be required to make additional capital contributions to MP Mask up to the maximum amount defined in the operating agreement. However, should the Board of Managers determine that further additional funding is required, MP Mask shall pursue its own financing. If MP Mask is unable to obtain its own financing, it may request additional capital contributions from the Company. Should the Company choose not to make a requested contribution to MP Mask, its ownership percentage may be reduced. MP Mask did not request, and the Company did not make, any contributions to MP Mask in fiscal years 2015 or 2014 and it did not receive any distributions from MP Mask during those fiscal years. The Company's investment in the VIE, which represents its maximum exposure to loss, was $93.0 million at November 1, 2015 and $93.1 million at November 2, 2014. These amounts are reported in the Company's consolidated balance sheets as Investment in joint venture. The Company recorded a loss from its investment in MP Mask of $0.1 million in fiscal years 2015 and 2013 and recorded no income or loss from the investment in fiscal year 2014. Income (loss) from MP Mask is included in Interest and other income, net, in the consolidated statements of income. As of November 1, 2015, the Company owed MP Mask $4.3 million and had a receivable from Micron of $6.4 million, both primarily related to the aforementioned supply agreements. The Company, in 2015, recorded $0.8 million of commission revenue earned under the supply agreements it has with Micron and MP Mask, and amortization of $0.2 million of the related supply agreement intangible asset. In 2015 the Company also recorded cost of sales in the amount of $4.8 million for photomasks produced by MP Mask for the Company's customers, and incurred expenses of $3.1 million for research and development activities and other goods and services purchased from MP Mask by the Company. As of November 2, 2014, the Company owed MP Mask $4.2 million and had a receivable from Micron of $6.8 million, both primarily related to the aforementioned supply agreements. The Company, in 2014, recorded $1.2 million of commission revenue earned under the supply agreements it has with Micron and MP Mask, and amortization of $0.2 million of the related supply agreement intangible asset. In 2014 the Company also recorded cost of sales in the amount of $3.2 million for photomasks produced by MP Mask for the Company's customers, and incurred expenses of $1.6 million for research and development activities and other goods and services purchased from MP Mask by the Company. In 2014 the Company purchased equipment from MP Mask for $1.3 million. As of November 3, 2013, the Company owed MP Mask $4.5 million and had a receivable from Micron of $4.9 million, both primarily related to the aforementioned supply agreements. The Company, in 2013, recorded $0.9 million of commission revenue earned under the supply agreements it has with Micron and MP Mask, and amortization of $0.3 million of the related supply agreement intangible asset. In 2013 the Company also recorded cost of sales in the amount of $8.7 million for photomasks produced by MP Mask for the Company's customers, and incurred expenses of $1.6 million for research and development activities and other goods and services purchased from MP Mask by the Company. In 2013 the Company purchased equipment from MP Mask for $6.1 million. On March 24, 2015, the Company announced that the MP Mask joint venture would not be renewed after May 5, 2016. The MP Mask operating agreement provides that Micron will make a payment to the Company to purchase the Company’s equity interest in MP Mask based on the Company’s ownership percentage of the net book value of MP Mask at that time, which, as of September 3, 2015, was approximately $93 million. The Company does not expect that it will incur a significant gain or loss on this transaction. Concurrently, the Company announced that it entered into supply and technology license agreements with Micron. This supply agreement, which commences on May 6, 2016, with a one-year term subject to mutually agreeable renewals, provides that the Company will be the majority outsource supplier of Micron’s photomasks and related services, if any. The technology license agreement commenced in March 2015 and continues through the earlier of one year from the termination of the initial technology license agreement, which will occur on May 5, 2016, or when Micron certifies that it has transferred certain defined technology to the Company. The Company forevermore has the rights to use the technology obtained under these technology license agreements. Summarized financial information of MP Mask is presented below. As of Fiscal Year End 2015 2014 Current assets $ 30,567 $ 31,696 Noncurrent assets 173,840 205,457 Current liabilities 18,234 44,024 Noncurrent liabilities - 6,804 Fiscal Year 2015 2014 2013 Net sales $ 96,068 $ 81,399 $ 77,900 Gross profit 1,215 3,427 4,663 Net income (loss) (151 ) 1,259 4,735

ACCRUED LIABILITIES

ACCRUED LIABILITIES	12 Months Ended
	Nov. 01, 2015
ACCRUED LIABILITIES [Abstract]
ACCRUED LIABILITIES	NOTE 6 - ACCRUED LIABILITIES Accrued liabilities include salaries, wages and related benefits of $14.3 million and $10.4 million at November 1, 2015 and November 2, 2014, respectively, and an acquisition liability of $7.1 million and $7.2 million at November 1, 2015 and November 2, 2014, respectively.

LONG-TERM BORROWINGS

LONG-TERM BORROWINGS	12 Months Ended
	Nov. 01, 2015
LONG-TERM BORROWINGS [Abstract]
LONG-TERM BORROWINGS	NOTE 7 - LONG-TERM BORROWINGS Long-term borrowings consist of the following: November 1, 2015 November 2, 2014 3.25% convertible senior notes due in April 2016 $ 57,500 $ 115,000 3.25% convertible senior notes due in April 2019 57,500 - 2.77% capital lease obligation payable through July 2018 15,346 20,481 3.09% capital lease obligation payable through March 2016 2,269 6,705 132,615 142,186 Less current portion 65,495 10,381 $ 67,120 $ 131,805 In January 2015 the Company privately exchanged $57.5 million in aggregate principal amount of its 3.25% convertible senior notes with a maturity date of April 1, 2016, for new 3.25% convertible senior notes with an aggregate principal amount of $57.5 million with a maturity date of April 1, 2019. The conversion rate of the new notes is the same as that of the exchanged notes, which were issued in March 2011 with a conversion rate of approximately 96 shares of common stock per $1,000 note principal, equivalent to a conversion price of $10.37 per share of common stock, and is subject to adjustment upon the occurrence of certain events, which are described in the indenture dated January 22, 2015. Note holders may convert each $1,000 principal amount of notes at any time prior to the close of business on the second scheduled trading day immediately preceding April 1, 2019, and the Company is not required to redeem the notes prior to their maturity date. Interest on the notes accrues in arrears, and is paid semiannually through the notes’ maturity date. The Company’s credit facility, which expires in December 2018, has a $50 million limit with an expansion capacity to $75 million, and is secured by substantially all of the Company’s assets located in the United States and common stock the Company owns in certain of its foreign subsidiaries. The credit facility precludes the Company from paying cash dividends, and is subject to a minimum interest coverage ratio, total leverage ratio and minimum unrestricted cash balance financial covenants, all of which the Company was in compliance with at November 1, 2015. The Company had no outstanding borrowings against the credit facility at November 1, 2015, and $50 million was available for borrowing. The interest rate on the credit facility (1.44% at November 1, 2015) is based on the Company’s total leverage ratio at LIBOR plus a spread, as defined in the credit facility. In August 2013 a $26.4 million principal amount, five year capital lease commenced to fund the purchase of a high-end lithography tool. Payments under the capital lease, which bears interest at 2.77% are $0.5 million per month through July 2018. Under the terms of the lease agreement, the Company must maintain the equipment in good working order, and is subject to a cross default with cross acceleration provision related to certain nonfinancial covenants incorporated in its credit facility. As of November 1, 2015, the total amount payable through the end of the lease term was $16.0 million, of which $15.3 million represented principal and $0.7 million represented interest. In April 2011 the Company entered into a five year, $21.2 million capital lease for manufacturing equipment. Payments under the lease, which bears interest at 3.09%, are $0.4 million per month through March 2016. The lease agreement provides that the Company must maintain the equipment in good working order, and includes a cross default with cross acceleration provision related to certain non-financial covenants incorporated in the Company's credit facility agreement. As of November 1, 2015, the total amount payable through the end of the lease term, substantially all of which represented principal was $2.3 million. As of November 1, 2015, minimum lease payments under the Company's capital lease obligations were as follows: Fiscal Years: 2016 $ 8,398 2017 5,168 2018 4,698 18,264 Less interest 649 Net minimum lease payments under capital leases 17,615 Less current portion of net minimum lease payments 7,995 Long-term portion of minimum lease payments $ 9,620 Interest payments were $4.4 million in fiscal 2015, and $6.3 million in fiscal 2014 and 2013, including deferred financing cost payments of $0.3 million in fiscal 2014.

OPERATING LEASES

OPERATING LEASES	12 Months Ended
	Nov. 01, 2015
OPERATING LEASES [Abstract]
OPERATING LEASES	NOTE 8 - OPERATING LEASES The Company leases various real estate and equipment under non-cancelable operating leases, for which rental expense was $2.8 million, $2.8 million and $2.7 million in fiscal years 2015, 2014 and 2013, respectively. At November 1, 2015, future minimum lease payments under non-cancelable operating leases with initial terms in excess of one year are as follows: 2016 $ 2,116 2017 1,665 2018 622 2019 368 2020 317 Thereafter 1,534 $ 6,622 See Note 7 for disclosures related to the Company's capital lease obligations.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Nov. 01, 2015
SHARE-BASED COMPENSATION [Abstract]
SHARE-BASED COMPENSATION	NOTE 9 – SHARE-BASED COMPENSATION The Company has a share-based compensation plan ("Plan"), under which options, restricted stock, restricted stock units, stock appreciation rights, performance stock, performance units, and other awards based on, or related to, shares of the Company's common stock may be granted from shares authorized but unissued or shares previously issued and reacquired by the Company. The maximum number of shares of common stock approved by the Company’s shareholders to be issued under the Plan was increased from six million to nine million shares during fiscal 2014. Awards may be granted to officers, employees, directors, consultants, advisors, and independent contractors of the Company or its subsidiaries. In the event of a change in control (as defined in the Plan), the vesting of awards may be accelerated. The Plan, aspects of which are more fully described below, prohibits further awards from being issued under prior plans. The Company incurred total share-based compensation expenses of $3.7 million, $4.1 million and $4.0 million in fiscal years 2015, 2014 and 2013, respectively. No share-based compensation cost was capitalized as part of an asset and no related income tax benefits were recorded during the fiscal years presented. Stock Options Option awards generally vest in one to four years, and have a ten year contractual term. All incentive and non-qualified stock option grants must have an exercise price no less than the market value of the underlying common stock on the date of grant. The grant date fair values of options are based on the closing prices of the Company’s common stock on the date of grant using the Black-Scholes option pricing model. Expected volatility is based on the historical volatility of the Company's stock. The Company uses historical option exercise behavior and employee termination data to estimate expected term, which represents the period of time that the options granted are expected to remain outstanding. The risk-free rate of return for the estimated term of the option is based on the U.S. Treasury yield curve in effect at the date of grant. The weighted-average inputs and risk-free rate of return ranges used to calculate the grant date fair values of options issued during fiscal years 2015, 2014 and 2013 are presented in the following Year Ended November 1, 2015 November 2, 2014 November 3, 2013 Expected volatility 53.7 % 61.0 % 98.0 % Risk-free rate of return 1.3 – 1.6 % 1.4 % 0.5 – 1.4 % Dividend yield 0.0 % 0.0 % 0.0 % Expected term 4.7 years 4.6 years 4.3 years A summary of option activity under the Plan as of November 1, 2015, and changes during the year then ended is presented as follows: Options Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at November 2, 2014 4,076,781 $ 7.60 Granted 679,800 8.32 Exercised (459,188 ) 4.60 Cancelled and forfeited (494,225 ) 13.82 Outstanding at November 1, 2015 3,803,168 $ 7.29 6.0 years $ 11,215 Exercisable at November 1, 2015 2,299,693 $ 6.92 4.5 years $ 8,592 Vested and expected to vest as of November 1, 2015 3,705,186 $ 7.28 5.9 years $ 11,039 The weighted-average grant date fair value of options granted during fiscal years 2015, 2014 and 2013 were $3.81, $4.44 and $4.00, respectively. The total intrinsic value of options exercised during fiscal years 2015, 2014 and 2013 was $2.0 million, $1.4 million and $1.6 million, respectively. The Company received cash from option exercises of $2.2 million, $1.1 million and $0.5 million in fiscal years 2015, 2014 and 2013, respectively. As of November 1, 2015, the total unrecognized compensation cost of unvested option awards was approximately $3.9 million. That cost is expected to be recognized over a weighted-average amortization period of 2.4 years. Restricted Stock The Company periodically grants restricted stock awards. The restrictions on these awards typically lapse over a service period of one to four years. The weighted-average grant date fair values of restricted stock awards issued during fiscal years 2015, 2014 and 2013 were $8.28, $8.86 and $5.48, respectively. The total fair value of awards for which restrictions lapsed was $1.4 million, $1.5 million and $1.3 million during fiscal years 2015, 2014 and 2013, respectively. As of November 1, 2015, the total compensation cost for restricted stock awards not yet recognized was approximately $0.8 million. That cost is expected to be recognized over a weighted-average amortization period of 2.2 years. A summary of the status of the Company's outstanding restricted stock awards as of November 1, 2015, is presented below: Restricted Stock Shares Weighted-Average Fair Value at Grant Date Outstanding at November 2, 2014 235,481 $ 6.81 Granted 121,334 8.28 Vested (159,039 ) 7.25 Cancelled (8,188 ) 7.87 Outstanding at November 1, 2015 189,588 $ 7.34 Vested and expected to vest as of November 1, 2015 179,471 $ 7.35 Employee Stock Purchase Plan The Company's Employee Stock Purchase Plan ("ESPP") permits employees to purchase shares at 85% of the lower of the closing market price at the commencement or ending date of the Plan year (approximately one year). The Company recognizes the ESPP expense during that same period. As of November 1, 2015, the maximum number of shares of common stock approved by the Company's shareholders to be purchased under the ESPP was 1.5 million shares. Under the ESPP, approximately 1.3 million shares had been issued through November 1, 2015, and approximately 50,000 shares are subject to outstanding subscriptions. As of November 1, 2015, the total compensation cost related to the ESPP not yet recognized was $0.1 million, which is expected to be recognized in fiscal 2016.

EMPLOYEE RETIREMENT PLANS

EMPLOYEE RETIREMENT PLANS	12 Months Ended
	Nov. 01, 2015
EMPLOYEE RETIREMENT PLAN [Abstract]
EMPLOYEE RETIREMENT PLAN	NOTE 10 - EMPLOYEE RETIREMENT PLANS The Company maintains a 401(k) Savings and Profit Sharing Plan ("401(k) Plan") which covers all full and part time domestic employees who have completed three months of service and are 18 years of age or older. Under the terms of the 401(k) Plan, employees may contribute up to 50% of their salary, subject to certain maximum amounts, which will be matched by the Company at 50% of the employee's contributions that are not in excess of 4% of the employee's compensation. Employee and employer contributions vest upon contribution. Annual employer contributions for all the Company’s defined contribution plans were $0.7 million in fiscal years 2015 and 2014 and $0.6 million in fiscal year 2013.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Nov. 01, 2015
INCOME TAXES [Abstract]
INCOME TAXES	NOTE 11 - INCOME TAXES Income before the income tax provisions consist of the following: Year Ended November 1, 2015 November 2, 2014 November 3, 2013 United States $ 6,646 $ (23,083 ) $ (14,164 ) Foreign 63,394 64,413 40,969 $ 70,040 $ 41,330 $ 26,805 The income tax provisions consist of the following: Year Ended November 1, 2015 November 2, 2014 November 3, 2013 Current: Federal $ 160 $ 354 $ 208 State (109 ) - 65 Foreign 9,729 4,726 7,222 Deferred: Federal - - - State 7 (5 ) (181 ) Foreign 3,394 4,220 (85 ) Total $ 13,181 $ 9,295 $ 7,229 The income tax provisions differ from the amount computed by applying the statutory U.S. federal income tax rate to income before income taxes as a result of the following: Year Ended November 1, 2015 November 2, 2014 November 3, 2013 U.S. federal income tax at statutory rate $ 24,514 $ 14,465 $ 9,382 Changes in valuation allowances (11,471 ) (7,575 ) 1,325 Distributions from foreign subsidiaries 448 12,674 1,957 State income taxes, net of federal benefit 263 (141 ) 267 Foreign tax rate differentials (4,356 ) (4,864 ) (4,851 ) Tax credits (2,729 ) (2,847 ) (3,967 ) Uncertain tax positions, including reserves, settlements and resolutions (175 ) (2,255 ) 1,471 Gain on acquisition of DPTT - (5,748 ) - Intercompany gain elimination - 4,759 - Tax on foreign subsidiary earnings 6,589 - - Equity based compensation 634 714 765 Other, net (536 ) 113 880 $ 13,181 $ 9,295 $ 7,229 The effective tax rate differs from the U.S. statutory rate of 35% in fiscal years 2015, 2014 and 2013 primarily due to earnings, including the fiscal year 2014 gain on acquisition of DPTT, being taxed at lower statutory rates in foreign jurisdictions, combined with the benefit of various investment credits in a foreign jurisdiction. Valuation allowances in jurisdictions with historic and continuing losses eliminate the effective rate impact of these jurisdictions. The net deferred income tax assets consist of the following: As of November 1, 2015 November 2, 2014 Deferred income tax assets Net operating losses $ 56,582 $ 64,529 Reserves not currently deductible 8,158 6,948 Alternative minimum tax credits 3,281 3,121 Tax credit carryforwards 8,809 8,368 Other 1,782 1,773 78,612 84,739 Valuation allowances (38,763 ) (49,548 ) 39,849 35,191 Deferred income tax liabilities: Undistributed earnings of foreign subsidiaries (5,953 ) (5,366 ) Property, plant and equipment (17,874 ) (11,503 ) Investments (4,596 ) (2,660 ) Other (552 ) (448 ) (28,975 ) (19,977 ) Net deferred income tax assets $ 10,874 $ 15,214 Reported as: Current deferred tax assets $ 3,354 $ 7,223 Noncurrent deferred tax assets 11,908 11,036 Noncurrent deferred tax liabilities (4,388 ) (3,045 ) $ 10,874 $ 15,214 A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties, is as follows: Year Ended November 1, 2015 November 2, 2014 November 3, 2013 Balance at beginning of year $ 4,993 $ 4,757 $ 3,793 Additions (reductions) for tax positions in prior years (212 ) 3,437 1,224 Additions based on current year tax positions 318 272 207 Settlements (720 ) (3,155 ) (406 ) Lapses of statutes of limitations (350 ) (318 ) (61 ) Balance at end of year $ 4,029 $ 4,993 $ 4,757 Unrecognized tax benefits associated with uncertain tax positions were $4.1 million at November 1, 2015, which is recorded in other liabilities in the consolidated balance sheet and were $5.1 million at November 2, 2014, of which $5.0 million is recorded in other liabilities in the consolidated balance sheet, and $0.1 million is recorded as a reduction to deferred tax assets. If recognized, $4.1 million of the benefits would favorably impact the Company's effective tax rate in future periods. Included in these amounts in fiscal years 2015 and 2014 were $0.1 million of interest and penalties. The Company includes any applicable interest and penalties related to uncertain tax positions in its income tax provision. The above table includes the fiscal year 2015 settlement of two foreign audits and the recognition of previously unrecognized tax benefits resulting from the lapse of their assessment periods. Included within fiscal year 2014 is the settlement of an Internal Revenue Service (“IRS”) income tax examination of the Company’s 2011 and 2012 federal income tax returns, as well as the recognition of previously unrecognized tax benefits resulting from the lapse of the assessment periods, which were offset in part by uncertain tax positions related to the acquisition of DPTT (as discussed in Note 2). The IRS income tax settlement had limited impact on fiscal year 2014 income tax expense, as the changes that resulted from the examination were offset by loss carryforwards, for which the related deferred tax assets were subject to valuation allowances. Shortly after the close of the 2013 fiscal year, the Company reached a settlement with the relevant tax authorities regarding one of its non-US subsidiary’s 2010 tax year, as reflected in the fiscal 2013 table above. As of November 1, 2015, the Company does not believe it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease in the next twelve months. The Company is no longer subject to examination by the U.S. for years prior to and including fiscal year 2012. With respect to major foreign and state tax jurisdictions, the Company is no longer subject to tax authority examinations for years prior to and including fiscal year 2011. The following tables present the Company’s available operating loss and credit carryforwards at November 1, 2015, and the related expiration periods: Operating Loss Carryforwards Amount Expiration Period Federal $ 120,263 2023-2035 State $ 214,591 2016-2035 Foreign $ 35,464 2016-2023 Tax Credit Carryforwards Amount Expiration Period Federal research and development $ 4,337 2019-2035 Federal alternative minimum tax $ 3,281 Indefinite State tax $ 6,879 2016-2029 Included in the above foreign operating loss carryforward amount is $3.5 million of the $58.6 million operating loss carryforward amount acquired in the DPTT acquisition. The Company has established a valuation allowance for a portion of its deferred tax assets because it believes, based on the weight of all available evidence, that it is more likely than not that a portion of its net operating loss carryforwards will expire prior to utilization. The valuation allowance increased (decreased) by $(10.8 million), $(7.1 million) and $1.1 million in fiscal years 2015, 2014 and 2013, respectively. During fiscal year 2015, the Company determined that sufficient positive evidence existed in two foreign jurisdictions that it was more likely than not that additional deferred taxes of $2.4 million were realizable and, therefore, reduced the valuation allowance accordingly. As of November 1, 2015, the undistributed earnings of foreign subsidiaries included in consolidated retained earnings amounted to $161.4 million, of which $17.0 million is not considered to be permanently invested. No provision has been made for future U.S. taxes payable on the remaining undistributed earnings of $144.4 million, as they are expected to be indefinitely invested in foreign jurisdictions and, therefore, are not anticipated to be subject to U.S. tax. The amount of undistributed earnings is calculated taking into account the net amount of earnings of the Company’s foreign subsidiaries, considering its multitier subsidiary structure, and translating those earnings into U.S. dollars using exchange rates in effect as of the balance sheet date. During fiscal year 2015, the Company determined that the historic and future accumulated earnings of a foreign subsidiary were not required for future investment due to changes in the operational structure of the subsidiary. Accordingly, a deferred tax liability of $5.7 million has been established on $16.4 million of earnings previously considered indefinitely invested. Prior to the fiscal 2014 acquisition of DPTT, PDMC (formerly PSMC), in accordance with the ownership provisions in the DPTT acquisition agreements, made a onetime remittance of $35 million of earnings that had been previously considered to be indefinitely invested. The Company has not changed its assertion on the balance of PDMC earnings which remain indefinitely invested. Should the Company elect in the future to repatriate the foreign earnings so invested, it may incur additional income tax expense on those foreign earnings, the amount of which is not practicable to compute. PKLT, the Company's FPD manufacturing facility in Taiwan, has been accorded a tax holiday, which started in 2012 and expires in 2017. This tax holiday had no dollar or per share effect in the fiscal years ended November 1, 2015, November 2, 2014 and November 3, 2013. PDMC, which acquired an IC manufacturing facility in Taiwan as a result of the DPTT Acquisition, has been accorded a tax holiday that commenced in 2015 and expires in 2019. The Company realized $0.2 million in tax benefits from the PDMC tax holiday in the year ended November 1, 2015. The tax holiday had no per share effect on the Company’s financial results in the year ended November 1, 2015. In Korea, various investment tax credits have been earned to reduce the Company's effective income tax rate. Income tax payments were $4.9 million, $5.2 million and $10.7 million in fiscal 2015, 2014 and 2013, respectively. Cash received for refunds of income taxes paid in prior years amounted to $0.1 million, $1.4 million and $0.3 million in fiscal years 2015, 2014 and 2013, respectively.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Nov. 01, 2015
EARNINGS PER SHARE [Abstract]
EARNINGS PER SHARE	NOTE 12 - EARNINGS PER SHARE The calculation of basic and diluted earnings per share is presented as follows: Year Ended November 1, 2015 November 2, 2014 November 3, 2013 Net income attributable to Photronics, Inc. shareholders $ 44,625 $ 25,996 $ 17,966 Effect of dilutive securities: Interest expense on convertible notes, net of related tax effects 4,363 1,426 - Earnings for diluted earnings per share $ 48,988 $ 27,422 $ 17,966 Weighted-average common shares computations: Weighted-average common shares used for basic earnings per share 66,331 61,779 60,644 Effect of dilutive securities: Convertible notes 11,085 3,945 - Share-based payment awards 967 955 813 Common stock warrants - - 142 Dilutive common shares 12,052 4,900 955 Weighted-average common shares used for diluted earnings per share 78,383 66,679 61,599 Basic earnings per share $ 0.67 $ 0.42 $ 0.30 Diluted earnings per share $ 0.63 $ 0.41 $ 0.29 The table below shows the outstanding weighted-average share-based payment awards that were excluded from the calculation of diluted earnings per share because their exercise price exceeded the average market value of the common shares for the period or, under application of the treasury stock method, they were otherwise determined to be antidilutive. The table also shows convertible notes that, if converted, would have been antidilutive. Year Ended November 1, 2015 November 2, 2014 November 3, 2013 Share based payment awards 1,641 1,911 2,880 Convertible notes - 11,085 6,168 Total potentially dilutive shares excluded 1,641 12,996 9,048 In the first quarter of fiscal year 2016, the Company awarded approximately 0.7 million shared-based payment awards to its employees and directors.

SUBSIDIARY SHARE REPURCHASES AN

SUBSIDIARY SHARE REPURCHASES AND TENDER OFFER	12 Months Ended
	Nov. 01, 2015
SUBSIDIARY SHARE REPURCHASES AND TENDER OFFER [Abstract]
SUBSIDIARY SHARE REPURCHASES AND TENDER OFFER	NOTE 13 – SUBSIDIARY SHARE REPURCHASES AND TENDER OFFER In June 2015 the Company increased its ownership interest in PKL, a subsidiary of the Company based in Korea, to 99.77% from 99.75%, by purchasing shares of its common stock from noncontrolling interests at a cost of $0.1 million. Since the second quarter of fiscal 2011, the board of directors of PSMC (in 2014 PSMC’s name was changed to PDMC, see Note 2), a subsidiary of the Company based in Taiwan, authorized several share repurchase programs for PSMC to purchase for retirement shares of its outstanding common stock. The last of these repurchase programs concluded in the first fiscal quarter of 2013 in which PSMC purchased shares at a cost of $4.2 million. These repurchase programs increased the Company's ownership in PSMC from 72.09% at October 28, 2012, to 75.11% at January 27, 2013. During fiscal 2013 the Company increased its ownership interest in PSMC, primarily through a tender offer, to 98.63% by purchasing shares at a cost of $28.1 million. In January 2014 the Company increased its ownership percentage in PSMC to 100% at a cost of $1.7 million by purchasing the remaining shares that were not owned by the Company. The table below presents the effect of the change in the Company’s ownership interest in PSMC and PKL on the Company's equity for fiscal years 2015, 2014 and 2013 (in 2015 shares of PKL common stock were purchased, in 2014 shares of PSMC common stock were issued in connection with the DPTT Acquisition and shares were acquired from the former noncontrolling interests, and in 2013 shares of PSMC common stock were purchased). Year Ended November 1, 2015 November 2, 2014 November 3, 2013 Net income attributable to Photronics, Inc. shareholders $ 44,625 $ 25,996 $ 17,966 Increase (decrease) in Photronics, Inc.'s additional paid-in capital 28 (6,183 ) 600 Increase (decrease) in Photronics, Inc.’s accumulated other comprehensive income - 399 (237 ) Change from net income attributable to Photronics, Inc. shareholders due to issuance of shares of PDMC and transfers to or from noncontrolling interests $ 44,653 $ 20,212 $ 18,329

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Nov. 01, 2015
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 14 - COMMITMENTS AND CONTINGENCIES At November 1, 2015, the Company had outstanding purchase commitments of $14 million, which included $3 million related to capital expenditures, and had recorded liabilities for the purchase of equipment of $26 million. See Note 8 for operating lease commitments. The Company is subject to various claims that arise in the ordinary course of business. The Company believes such claims, individually or in the aggregate, will not have a material effect on its consolidated financial statements.

GEOGRAPHIC AND SIGNIFICANT CUST

GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION	12 Months Ended
	Nov. 01, 2015
GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION [Abstract]
GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION	NOTE 15 - GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION The Company operates as a single operating segment as a manufacturer of photomasks, which are high precision quartz plates containing microscopic images of electronic circuits for use in the fabrication of IC's and FPDs. Geographic net sales are based primarily on where the Company's manufacturing facility is located. The Company's 2015, 2014 and 2013 net sales by geographic area and of ICs and FPDs, and long-lived assets by geographic area were as follows: Year Ended November 1, 2015 November 2, 2014 November 3, 2013 Net sales Taiwan $ 205,141 $ 167,075 $ 117,364 Korea 147,921 140,386 134,300 United States 132,792 106,740 127,054 Europe 35,792 38,726 41,126 All other Asia 2,560 2,600 2,336 $ 524,206 $ 455,527 $ 422,180 IC $ 420,833 $ 352,679 $ 320,579 FPD 103,373 102,848 101,601 $ 524,206 $ 455,527 $ 422,180 As of November 1, 2015 November 2, 2014 November 3, 2013 Long-lived assets Taiwan $ 185,087 $ 207,324 $ 66,836 Korea 167,618 176,141 153,878 United States 184,282 158,325 191,518 Europe 10,287 8,259 10,471 All other Asia 10 20 37 $ 547,284 $ 550,069 $ 422,740 One customer accounted for 18%, 16% and 18% of the Company's net sales in fiscal years 2015, 2014 and 2013, respectively, and another customer accounted for 15% and 11% of the Company’s net sales in fiscal 2015 and 2014, respectively.

CHANGES IN ACCUMULATED OTHER CO

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME BY COMPONENT	12 Months Ended
	Nov. 01, 2015
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME BY COMPONENT [Abstract]
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME BY COMPONENT	NOTE 16 - CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME BY COMPONENT The following tables set forth the changes in the Company's accumulated other comprehensive income by component (net of tax of $0) for the years ended November 1, 2015 and November 2, 2014: Year Ended November 1, 2015 Foreign Currency Translation Adjustments Amortization of Cash Flow Hedge Other Total Balance at November 2, 2014 $ 22,651 $ (434 ) $ (443 ) $ 21,774 Other comprehensive income (loss) before reclassifications (40,154 ) - (381 ) (40,535 ) Amounts reclassified from other accumulated comprehensive income - 128 - 128 Net current period other comprehensive income (loss) (40,154 ) 128 (381 ) (40,407 ) Less: other comprehensive loss attributable to noncontrolling interests 7,869 - 191 8,060 Balance at November 1, 2015 $ (9,634 ) $ (306 ) $ (633 ) $ (10,573 ) Year Ended November 2, 2014 Foreign Currency Translation Adjustments Amortization of Cash Flow Hedge Other Total Balance at November 3, 2013 $ 27,797 $ (562 ) $ (832 ) $ 26,403 Other comprehensive loss before reclassifications (5,916 ) - (41 ) (5,957 ) Amounts reclassified from other accumulated comprehensive income - 128 - 128 Net current period other comprehensive income (loss) (5,916 ) 128 (41 ) (5,829 ) Less: other comprehensive loss attributable to noncontrolling interests 770 - 31 801 Other accumulated comprehensive income allocated to noncontrolling interests - - 410 410 Purchase of common stock of subsidiary - - (11 ) (11 ) Balance at November 2, 2014 $ 22,651 $ (434 ) $ (443 ) $ 21,774 The amortization of the cash flow hedge is included in Cost of sales in the consolidated statements of income for all periods presented.

CONCENTRATIONS OF CREDIT RISK

CONCENTRATIONS OF CREDIT RISK	12 Months Ended
	Nov. 01, 2015
CONCENTRATIONS OF CREDIT RISK [Abstract]
CONCENTRATIONS OF CREDIT RISK	NOTE 17 – CONCENTRATIONS OF CREDIT RISK Financial instruments that potentially subject the Company to credit risk principally consist of trade accounts receivables and temporary cash investments. The Company sells its products primarily to manufacturers in the semiconductor and FPD industries in North America, Europe and Asia. The Company believes that the concentration of credit risk in its trade receivables is substantially mitigated by the Company's ongoing credit evaluation process and relatively short collection terms. The Company does not generally require collateral from customers. The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. The Company's cash and cash equivalents are deposited in several financial institutions, including institutions located within all of the countries in which it manufactures photomasks. Portions of deposits in some of these institutions may exceed the amount of insurance available for such deposits at these institutions. As these deposits are generally redeemable upon demand and are held by high quality, reputable institutions, the Company considers them to bear minimal credit risk. The Company further mitigates credit risks related to its cash and cash equivalents by spreading such risk among a number of institutions.

OTHER RELATED PARTY TRANSACTION

OTHER RELATED PARTY TRANSACTIONS	12 Months Ended
	Nov. 01, 2015
OTHER RELATED PARTY TRANSACTIONS [Abstract]
OTHER RELATED PARTY TRANSACTIONS	NOTE 18 - OTHER RELATED PARTY TRANSACTIONS The executive chairman of the board of the Company is also a director of a company that provides secure managed information technology services to Photronics. Another director of the Company is also a shareholder, chief executive officer and chairman of the board of this company. Since 2002, the Company has entered into various service contracts with this company to provide services to all of the Company's worldwide facilities. The Company incurred expenses for services provided by this company of $1.0 million, $1.2 million, and $1.7 million in fiscal years 2015, 2014 and 2013, respectively, and had an outstanding balance of less than $0.1 million due to this company as of November 1, 2015 and $0.1 million as of November 2, 2014. As of November 1, 2015, the Company had contracted with this company for various services through June 2016 at a cost of $0.2 million. The Company purchases photomask blanks from a company of which an officer of the Company is a significant shareholder. The Company purchased $20.2 million, $20.1 million and $20.0 million of photomask blanks from this company in 2015, 2014 and 2013, respectively, for which the amount owed to this company was $4.5 million at November 1, 2015, and $4.4 million at November 2, 2014. The Company believes that the terms of its transactions with the related parties described above were negotiated at arm's length and were no less favorable to the Company than terms it could have obtained from unrelated third parties. See Note 5 for other related party transactions.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Nov. 01, 2015
FAIR VALUE MEASUREMENTS [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 19 - FAIR VALUE MEASUREMENTS The accounting framework for determining fair value includes a hierarchy for ranking the quality and reliability of the information used to measure fair value, which enables the reader of the financial statements to assess the inputs used to develop those measurements. The fair value hierarchy consists of three tiers as follows: Level 1, defined as quoted market prices in active markets for identical securities; Level 2, defined as inputs other than Level 1 that are observable, either directly or indirectly; and Level 3, defined as unobservable inputs that are not corroborated by market data. The Company did not have any assets or liabilities measured at fair value, on a recurring or a nonrecurring basis, at November 1, 2015, or November 2, 2014. Fair Value of Other Financial Instruments The fair values of the Company's cash and cash equivalents (Level 1 measurements), accounts receivable, accounts payable, and certain other current assets and current liabilities (Level 2 measurements) approximate their carrying value due to their short-term maturities. The fair value of the Company's convertible senior notes is a Level 2 measurement that is determined using recent bid prices. The table below presents the fair and carrying values of the Company's convertible senior notes at November 1, 2015, and November 2, 2014. November 1, 2015 November 2, 2014 Fair Value Carrying Value Fair Value Carrying Value 3.25% convertible senior notes due 2016 $ 60,375 $ 57,500 $ 122,544 $ 115,000 3.25% convertible senior notes due 2019 $ 64,550 $ 57,500 $ - $ -

QUARTERLY RESULTS OF OPERATIONS

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	12 Months Ended
	Nov. 01, 2015
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) [Abstract]
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	NOTE 20 - QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The following table sets forth certain unaudited quarterly financial data: First Second Third Fourth Year Fiscal 2015: (a) (a) Net sales $ 123,505 $ 127,309 $ 131,699 $ 141,693 $ 524,206 Gross margin 28,184 33,095 37,243 44,614 143,136 Net income 7,142 12,156 15,410 22,151 56,859 Net income attributable to Photronics, Inc. shareholders 3,837 10,060 12,106 18,622 44,625 Earnings per share: Basic $ 0.06 $ 0.15 $ 0.18 $ 0.28 $ 0.67 Diluted $ 0.06 $ 0.14 $ 0.17 $ 0.25 $ 0.63 Fiscal 2014: (b) (c)(d) (c)(e) Net sales $ 101,542 $ 104,882 $ 124,852 $ 124,251 $ 455,527 Gross margin 22,882 22,190 28,650 26,624 100,346 Net income 2,041 15,950 7,344 6,700 32,035 Net income attributable to Photronics, Inc. shareholders 1,993 15,540 4,186 4,277 25,996 Earnings per share: Basic $ 0.03 $ 0.25 $ 0.07 $ 0.07 $ 0.42 Diluted $ 0.03 $ 0.22 $ 0.07 $ 0.07 $ 0.41 (a) Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes. (b) Includes expenses of $0.5 million, net of tax, related to the acquisition of DPTT. (c) Includes non-cash gain of $16.4 million, net of tax, related to the acquisition of DPTT. (d) Includes expenses of $2.0 million, net of tax, related to the acquisition of DPTT. (e) Includes expenses of $2.5 million, net of tax, related to the acquisition of DPTT.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	Nov. 01, 2015
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 21 - RECENT ACCOUNTING PRONOUNCEMENTS In November 2015 the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-17 “Balance Sheet Classification of Deferred Taxes”, which requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. This ASU is effective for the Company in its first quarter of fiscal 2017, with early application permitted and, upon adoption, may be applied either prospectively or retrospectively. The Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In April 2015 the FASB issued ASU 2015-03 “Simplifying the Presentation of Debt Issuance Costs”, which requires debt issuance costs related to recognized debt liability to be presented in the balance sheet as a direct deduction from that debt liability, consistent with the presentation of a debt discount. This ASU is effective for the Company in its first quarter of fiscal 2017 and, upon adoption, should be applied retrospectively. Early adoption is permitted. The Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09 – Revenue from Contracts with Customers, which will supersede nearly all existing revenue recognition guidance under accounting principles generally accepted in the United States. The core principle of this ASU is that revenue should be recognized for the amount of consideration expected to be received for promised goods or services transferred to customers. This ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments, and assets recognized for costs incurred to obtain or fulfill a contract. In August 2015 the FASB issued ASU 2015-14 which defers the effective date of ASU 2014-09 by one year and allows entities to early adopt, but no earlier than the original effective date. ASU 2014-09 will now be effective for the Company in its first quarter of fiscal 2019. ASU 2014-09 allows for either full retrospective or modified retrospective adoption. The Company is evaluating the transition method that will be elected and the potential effects of the adoption of ASU 2014-09 on its consolidated financial statements.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	12 Months Ended
	Nov. 01, 2015
SUBSEQUENT EVENT [Abstract]
SUBSEQUENT EVENT	NOTE 22 – SUBSEQUENT EVENT The Company had a minority interest in a foreign entity. In December 2015 the Company sold its investment in the foreign entity for $8.8 million and expects to recognize a net gain of approximately $8.5 million in the Company’s quarter ending January 31, 2016.

Schedule II-Valuation and Quali

Schedule II-Valuation and Qualifying Accounts	12 Months Ended
	Nov. 01, 2015
Schedule II-Valuation and Qualifying Accounts [Abstract]
Schedule II-Valuation and Qualifying Accounts	Schedule II Valuation and Qualifying Accounts for the Years Ended November 1, 2015, November 2, 2014 and November 3, 2013 (in thousands) Balance at Beginning of Year Charged to Costs and Expenses Deductions Balance at End of Year Allowance for Doubtful Accounts Year ended November 1, 2015 $ 3,078 $ 730 $ (507 )(a) $ 3,301 Year ended November 2, 2014 $ 3,541 $ (740 ) $ 277 (a) $ 3,078 Year ended November 3, 2013 $ 3,902 $ (398 ) $ 37 (a) $ 3,541 Deferred Tax Asset Valuation Allowance Year ended November 1, 2015 $ 49,548 $ (2,364 )(b) $ (8,421 )(c) $ 38,763 Year ended November 2, 2014 $ 56,661 $ - $ (7,113 )(c) $ 49,548 Year ended November 3, 2013 $ 55,536 $ 1,125 $ - $ 56,661 (a) Uncollectible accounts written off, net, and impact of foreign currency translation. (b) Partial reversal of valuation allowance (c) Increase in deferred tax liability and utilization of net operating losses.

SUMMARY OF SIGNIFICANT ACCOUN32

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Nov. 01, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Business	Business Photronics, Inc. and its subsidiaries (the "Company" or "Photronics") is one of the world's leading manufacturers of photomasks, which are high precision photographic quartz plates containing microscopic images of electronic circuits. Photomasks are a key element in the manufacture of semiconductors and flat panel displays ("FPDs"), and are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication of integrated circuits ("ICs") and a variety of FPDs and, to a lesser extent, other types of electrical and optical components. The Company currently operates principally from nine manufacturing facilities; two of which are located in Europe, three in Taiwan, one in Korea, and three in the United States.
Consolidation	Consolidation The accompanying consolidated financial statements include the accounts of Photronics, Inc. and its majority-owned subsidiaries that the Company controls. All intercompany balances and transactions have been eliminated in consolidation.
Estimates and Assumptions	Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect amounts reported in them. Estimates are based on historical experience and on various assumptions that are believed to be reasonable under the circumstances. The Company's estimates are based on the facts and circumstances available at the time they are made. Actual results reported by the Company may differ from such estimates. The Company reviews these estimates periodically and reflects the effect of revisions in the period in which they are determined.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company records derivatives in the consolidated balance sheets as assets or liabilities, measured at fair value. The Company does not engage in derivative instruments for speculative purposes. Gains or losses resulting from changes in the values of those derivatives are reflected in earnings, or as accumulated other comprehensive income or loss, a separate component of equity, depending on the use of the derivatives and whether they qualify for hedge accounting. In order to qualify for hedge accounting, among other criteria, a derivative must be a hedge of an interest rate, price, foreign currency exchange rate, or credit risk that is expected to be highly effective at the inception of the hedge, be highly effective in achieving offsetting changes in the fair value or cash flows of the hedged item during the term of the hedge and formally documented at the inception of the hedge. In general, the types of risks the Company has hedged are those related to the variability of future cash flows caused by movements in foreign currency exchange and interest rates. The Company documents its risk management strategy and hedge effectiveness at the inception of, and during the term of, each hedge.
Fiscal Year	Fiscal Year The Company's fiscal year ends on the Sunday closest to October thirty-first, and, as a result, a 53-week year occurs every 5 to 6 years. Fiscal years 2015 and 2014 each included 52 weeks, while fiscal year 2013 included 53 weeks.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash and highly liquid investments purchased with an original maturity of 3 months or less. The carrying values of cash equivalents approximate their fair values due to the short-term maturities of these instruments.
Inventories	Inventories Inventories are primarily comprised of raw materials and are stated at the lower of cost, determined under the first-in, first-out ("FIFO") method, or market.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment, except as explained below under "Impairment of Long-Lived Assets," are stated at cost less accumulated depreciation and amortization. Repairs and maintenance, as well as renewals and replacements of a routine nature, are charged to operations as incurred, while those that improve or extend the lives of existing assets are capitalized. Upon sale or other disposition, the cost of the asset and accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in earnings. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the related assets. Buildings and improvements are depreciated over 15 to 40 years, machinery and equipment over 3 to 10 years and, furniture, fixtures and office equipment over 3 to 5 years. Leasehold improvements are amortized over the life of the lease or the estimated useful life of the improvement, whichever is less. Judgment and assumptions are used in establishing estimated useful lives and depreciation periods. The Company also uses judgment and assumptions as it periodically reviews property, plant and equipment for any potential impairment in carrying values whenever events such as a significant industry downturn, plant closures, technological obsolescence, or other change in circumstances indicate that their carrying amounts may not be recoverable.
Intangible Assets	Intangible Assets Intangible assets consist primarily of a technology license agreement, a supply agreement and acquisition-related intangibles. These assets, except as explained below, are stated at fair value as of the date acquired less accumulated amortization. Amortization is calculated based on the estimated useful lives of the assets, which range from 3 to 15 years, using the straight-line method or another method that more fairly represents the utilization of the assets. The Company periodically evaluates the remaining useful lives of its intangible assets to determine whether events or circumstances warrant a revision to the remaining periods of amortization. In the event that the estimate of an intangible asset’s remaining useful life has changed, the remaining carrying amount of the intangible asset is amortized prospectively over that revised remaining useful life. If it is determined that an intangible asset has an indefinite useful life, that intangible asset would be subject to impairment testing annually or whenever events or circumstances indicate that the carrying value may not, based on future undiscounted cash flows or market factors, be recoverable, and an impairment loss would be recorded in the period so determined. The measurement of the impairment loss would be based on the fair value of the intangible asset.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on the Company's judgment and estimates of undiscounted future cash flows resulting from the use of the assets and their eventual disposition. Measurement of an impairment loss for long-lived assets that management expects to hold and use is based on the fair value of the assets. The carrying values of assets determined to be impaired are reduced to their estimated fair values. Fair values of any impaired assets would generally be determined using a market or income approach.
Business Combinations	Business Combinations When acquiring other businesses or participating in mergers or joint ventures in which the Company is deemed to be the acquirer, the Company generally recognizes identifiable assets acquired, liabilities assumed and any noncontrolling interests at their acquisition date fair values, and separately from any goodwill that may be required to be recognized. Goodwill, when recognizable, would be measured as the excess amount of any consideration transferred, which is generally measured at fair value, over the acquisition date fair values of the identifiable assets acquired and liabilities assumed. Accounting for such transactions requires the Company’s management to make significant assumptions and estimates and, although the Company believes any estimates and assumptions it makes to be reasonable and appropriate at the time they are made, unanticipated events and circumstances may arise that affect their accuracy, causing actual results to differ from those estimated by the Company. When required, the Company will adjust the values of the assets acquired and liabilities assumed against the acquisition gain or goodwill, as initially recorded, for a period of up to one year after the transaction. Costs incurred to effect a merger or acquisition, such as legal, accounting, valuation and other third party costs, as well as internal general and administrative costs incurred are charged to expense in the periods incurred. Costs incurred to issue any debt and equity securities are recognized in accordance with other applicable generally accepted accounting principles.
Investments in Joint Ventures	Investments in Joint Ventures The financial results of investments in joint ventures of which the Company has a controlling financial interest are included in the Company’s consolidated financial statements. Investments in joint ventures over which the Company has the ability to exercise significant influence and that, in general, are at least 20 percent owned are accounted for under the equity method. An impairment loss would be recognized whenever a decrease in the fair value of such an investment below its carrying amount is determined to be other than temporary. In judging "other than temporary," the Company would consider the length of time and the extent to which the fair value of the investment has been less than the carrying amount of the investment, the near-term and longer-term operating and financial prospects of the investee, and the Company's longer-term intent of retaining its investment in the investee.
Variable Interest Entities	Variable Interest Entities The Company accounts for the investments it makes in certain legal entities in which equity investors do not have 1) sufficient equity at risk for the legal entity to finance its activities without additional subordinated financial support or, 2) as a group, the holders of the equity investment at risk do not have either the power, through voting or similar rights, to direct the activities of the legal entity that most significantly impact the entity’s economic performance or, 3) the obligation to absorb the expected losses of the legal entity or the right to receive expected residual returns of the legal entity. These certain legal entities are referred to as “variable interest entities”, or “VIEs”. The Company would consolidate the results of any such entity in which it determined that it has a controlling financial interest. The Company would have a “controlling financial interest” in such an entity when the Company has both the power to direct the activities that most significantly affect the VIE’s economic performance and the obligation to absorb the losses of, or right to receive the benefits from, the VIE that could be potentially significant to the VIE. On a quarterly basis, the Company reassesses whether it has a controlling financial interest in any investments it has in these certain legal entities. The Company accounts for investments it makes in VIEs in which it has determined that it does not have a controlling financial interest but has significant influence over and holds at least a 20 percent ownership interest using the equity method. Any such investment not meeting the parameters to be accounted under the equity method would be accounted for using the cost method unless the investment had a readily determinable fair value, at which it would then be reported.
Income Taxes	Income Taxes The income tax provision is computed on the basis of the various tax jurisdictions' income or loss before income taxes. Deferred income taxes reflect the tax effects of differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as the tax effects of net operating losses and tax credit carryforwards. The Company uses judgment and assumptions to determine if valuation allowances for deferred income tax assets are required, if their realization is not more likely than not, by considering future market growth, forecasted operations, future taxable income, and the amount of earnings in the tax jurisdictions in which it operates. The Company considers income taxes in each of the tax jurisdictions in which it operates in order to determine its effective income tax rate. Current income tax exposure is identified and temporary differences resulting from differing treatments of items for tax and financial reporting purposes are assessed. These differences result in deferred tax assets and liabilities, which are included in the Company's consolidated balance sheets. Additionally, the Company evaluates the potential realization of deferred income tax assets from future taxable income and establishes valuation allowances if their realization is deemed not more likely than not. Accordingly, income taxes charged against earnings may have been impacted by changes in the valuation allowance. Significant management estimates and judgment are required in determining any valuation allowances recorded against net deferred tax assets. The Company accounts for uncertain tax positions by recording a liability for unrecognized tax benefits resulting from uncertain tax positions taken, or expected to be taken, in its tax returns. The Company includes any applicable interest and penalties related to uncertain tax positions in its income tax provision.
Earnings Per Share	Earnings Per Share Basic earnings per share ("EPS") is based on the weighted-average number of common shares outstanding for the period, excluding any dilutive common share equivalents. Diluted EPS reflects the potential dilution that could occur if certain share-based payment awards or financial instruments were exercised, earned or converted.
Share-Based Compensation	Share-Based Compensation The Company recognizes share-based compensation expense over the service period that the awards are expected to vest. Share-based compensation expense includes the estimated effects of forfeitures, which are adjusted over the requisite service period to the extent actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized in the period of change and will also impact the amount of expense to be recognized in future periods. Determining the appropriate option pricing model, calculating the grant date fair value of share-based awards and estimating forfeiture rates requires considerable judgment, including the estimations of stock price volatility and the expected term of options granted. The Company uses the Black-Scholes option pricing model to value employee stock options. The Company estimates stock price volatility based on daily averages of its historical volatility over a term approximately equal to the estimated time period the grant will remain outstanding. The expected term of options and forfeiture rate assumptions are derived from historical data.
Research and Development	Research and Development Research and development costs are expensed as incurred, and consist primarily of global development efforts related to high-end process technologies for advanced sub-wavelength reticle solutions for IC photomask technologies. Research and development expenses also include the amortization of the carrying value of a technology license agreement with Micron Technology, Inc. (“Micron”). Under this technology license agreement, the Company has access to certain photomask technology developed by Micron.
Foreign Currency Translation	Foreign Currency Translation The Company's international subsidiaries maintain their accounts in their respective local currencies. Assets and liabilities of such subsidiaries are translated to U.S. dollars at year-end exchange rates. Income and expenses are translated at average rates of exchange prevailing during the year. Foreign currency translation adjustments are accumulated and reported in accumulated other comprehensive income, a component of equity. The effects of changes in exchange rates on foreign currency transactions, which are included in interest and other income (expense), net were a net gain of $2.5 million, $1.4 million and $0.5 million in fiscal years 2015, 2014 and 2013, respectively.
Noncontrolling Interests	Noncontrolling Interests Noncontrolling interests represents the minority shareholders' proportionate share in the equity of the Company's two majority-owned subsidiaries, Photronics DNP Mask Corporation ("PDMC") in Taiwan, of which noncontrolling interests owned 49.99% as of November 1, 2015 and November 2, 2014 and PK Ltd. ("PKL") in Korea of which noncontrolling shareholders owned approximately 0.2% and 0.3% as of November 1, 2015 and November 2, 2014, respectively. The effect on its equity of the change in the Company’s ownership interest in these subsidiaries is presented in Note 13.
Revenue Recognition	Revenue Recognition The Company recognizes revenue when there is persuasive evidence that an arrangement exists, delivery has occurred, the sales price is fixed or determinable, and collectability is reasonably assured. Delivery is determined by the shipping terms of the individual sales transactions. For sales with FOB destination or similar shipping terms, delivery occurs when the Company’s product reaches its destination and is received by the customer. For sales with FOB shipping point terms, delivery occurs when the Company’s product is received by the common carrier. The Company uses judgment when estimating the effect on revenue of discounts and sales incentives, both of which are accrued when the related revenue is recognized.
Warranty and Other Post Shipment Obligations	Warranties and Other Post Shipment Obligations
Sales Taxes	Sales Taxes

ACQUISITION OF DNP PHOTOMASK 33

ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD. (Policies)	12 Months Ended
	Nov. 01, 2015
Business Acquisition [Line Items]
Business Combinations	Business Combinations When acquiring other businesses or participating in mergers or joint ventures in which the Company is deemed to be the acquirer, the Company generally recognizes identifiable assets acquired, liabilities assumed and any noncontrolling interests at their acquisition date fair values, and separately from any goodwill that may be required to be recognized. Goodwill, when recognizable, would be measured as the excess amount of any consideration transferred, which is generally measured at fair value, over the acquisition date fair values of the identifiable assets acquired and liabilities assumed. Accounting for such transactions requires the Company’s management to make significant assumptions and estimates and, although the Company believes any estimates and assumptions it makes to be reasonable and appropriate at the time they are made, unanticipated events and circumstances may arise that affect their accuracy, causing actual results to differ from those estimated by the Company. When required, the Company will adjust the values of the assets acquired and liabilities assumed against the acquisition gain or goodwill, as initially recorded, for a period of up to one year after the transaction. Costs incurred to effect a merger or acquisition, such as legal, accounting, valuation and other third party costs, as well as internal general and administrative costs incurred are charged to expense in the periods incurred. Costs incurred to issue any debt and equity securities are recognized in accordance with other applicable generally accepted accounting principles.
DNP Photomask Technology Taiwan Co., Ltd. (DPTT) [Member]
Business Acquisition [Line Items]
Business Combinations	The DPTT Acquisition met the conditions of a business combination as defined by Accounting Standards Codification (“ASC”) 805 and, as such, is accounted for under ASC 805 using the acquisition method of accounting. ASC 805 defines the three elements of a business as Input, Process and Output. As a result of the DPTT Acquisition, Photronics acquired the machinery and equipment utilized in the processes to manufacture product, the building that houses the entire operation and the processes needed to manufacture the product, all previously owned by DPTT. The former DPTT employees hired by Photronics in connection with the acquisition brought with them the skills, experience and know-how necessary to provide the operational processes that, when applied to the acquired assets, represent processes being applied to inputs to create outputs. Having met all three elements of a business as defined in ASC 805, the Company determined that the DPTT Acquisition should be accounted for as a business combination. In addition to recording the fair values of the net assets acquired, the Company also recorded a gain on acquisition of $16.4 million in the three month period ended May 4, 2014, in accordance with ASC 805 using the acquisition method of accounting. The gain on acquisition was primarily due to the difference between the market values of the acquired real estate and personal property exceeding the fair value of the consideration transferred. In addition, a deferred tax liability of $3.0 million was recorded in the opening balance sheet, which had the effect of reducing the gain on acquisition to $16.4 million. Prior to recording the gain, the Company reassessed whether it had correctly identified all of the assets acquired and all of the liabilities assumed. Additionally, the Company also reviewed the procedures used to measure the amounts of the identifiable assets acquired, liabilities assumed and consideration transferred. The fair value of the first component of consideration represents 49.99 percent of the fair value of PSMC, and is based on recent prices paid by the Company to acquire outstanding shares of PSMC (prior to the acquisition). As a result of the merger, the Company acquired the net assets of DPTT having a fair value of $114.7 million, less noncontrolling interests of $57.3 million retained by DNP, and transferred consideration with a fair value of $41.0 million, resulting in a gain of $16.4 million. The fair value of the total consideration transferred as of the acquisition date was $98.3 million, comprised of the 49.99% noncontrolling interest in DPTT of $57.3 million, and 49.99% of the fair value of PSMC of $41.0 million (112.9 million shares, or 49.99% of the outstanding common stock of PSMC). We estimated the $114.7 million fair value of DPTT as of the acquisition date by applying an income approach as our valuation technique. Our income approach followed a discounted cash flow method, which applied our best estimates of future cash flows and an estimated terminal value discounted to present value at a rate of return taking into account the relative risk of the cash flows. To confirm the reasonableness of the value derived from the income approach, we also analyzed the values of comparable companies which are publicly traded. The acquisition date fair value of the property, plant and equipment of DPTT was $95.4 million, which was determined by utilizing the cost and, to a lesser extent, the market approach, based on an in-use premise of value. Inputs utilized by the Company to determine fair values of DPTT’s property, plant and equipment included a cost approach, which was adjusted for depreciation and condition for equipment, and adjusted for depreciation and local market conditions for real property. The noncontrolling interest of DPTT was calculated using the 49.99% of its total fair value of $114.7 million. The Company also used a market approach to corroborate the enterprise value of DPTT. This fair value measurement is based on significant inputs that are not observable in the market and thus represents a fair value measurement categorized within Level 3 of the fair value hierarchy. Key assumptions include local and current construction replacement cost multipliers, amounts of ancillary replacement costs, physical deterioration, and economic and functional obsolescence to adjust the current replacement costs by, as well as the estimated economic lives of the assets. Identifiable intangible assets acquired were primarily customer relationships, which represent the fair value of relationships and agreements DPTT had in place at the date of the merger. The customer relationships had a fair value of $1.5 million at the acquisition date, determined by using the multi-period excess earnings method, and are amortized over a twelve year estimated useful life. The acquisition date fair value of the remainder of the identifiable assets acquired and liabilities assumed were equivalent to, or did not materially differ from, their carrying values.

SHARE-BASED COMPENSATION (Polic

SHARE-BASED COMPENSATION (Policies)	12 Months Ended
	Nov. 01, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Options Accounting Policy	Share-Based Compensation The Company recognizes share-based compensation expense over the service period that the awards are expected to vest. Share-based compensation expense includes the estimated effects of forfeitures, which are adjusted over the requisite service period to the extent actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized in the period of change and will also impact the amount of expense to be recognized in future periods. Determining the appropriate option pricing model, calculating the grant date fair value of share-based awards and estimating forfeiture rates requires considerable judgment, including the estimations of stock price volatility and the expected term of options granted. The Company uses the Black-Scholes option pricing model to value employee stock options. The Company estimates stock price volatility based on daily averages of its historical volatility over a term approximately equal to the estimated time period the grant will remain outstanding. The expected term of options and forfeiture rate assumptions are derived from historical data.
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Options Accounting Policy	Option awards generally vest in one to four years, and have a ten year contractual term. All incentive and non-qualified stock option grants must have an exercise price no less than the market value of the underlying common stock on the date of grant. The grant date fair values of options are based on the closing prices of the Company’s common stock on the date of grant using the Black-Scholes option pricing model. Expected volatility is based on the historical volatility of the Company's stock. The Company uses historical option exercise behavior and employee termination data to estimate expected term, which represents the period of time that the options granted are expected to remain outstanding. The risk-free rate of return for the estimated term of the option is based on the U.S. Treasury yield curve in effect at the date of grant.

INCOME TAXES (Policies)

INCOME TAXES (Policies)	12 Months Ended
	Nov. 01, 2015
INCOME TAXES [Abstract]
Unremitted Earnings in Foreign Investment	As of November 1, 2015, the undistributed earnings of foreign subsidiaries included in consolidated retained earnings amounted to $161.4 million, of which $17.0 million is not considered to be permanently invested. No provision has been made for future U.S. taxes payable on the remaining undistributed earnings of $144.4 million, as they are expected to be indefinitely invested in foreign jurisdictions and, therefore, are not anticipated to be subject to U.S. tax. The amount of undistributed earnings is calculated taking into account the net amount of earnings of the Company’s foreign subsidiaries, considering its multitier subsidiary structure, and translating those earnings into U.S. dollars using exchange rates in effect as of the balance sheet date. During fiscal year 2015, the Company determined that the historic and future accumulated earnings of a foreign subsidiary were not required for future investment due to changes in the operational structure of the subsidiary. Accordingly, a deferred tax liability of $5.7 million has been established on $16.4 million of earnings previously considered indefinitely invested. Prior to the fiscal 2014 acquisition of DPTT, PDMC (formerly PSMC), in accordance with the ownership provisions in the DPTT acquisition agreements, made a onetime remittance of $35 million of earnings that had been previously considered to be indefinitely invested. The Company has not changed its assertion on the balance of PDMC earnings which remain indefinitely invested. Should the Company elect in the future to repatriate the foreign earnings so invested, it may incur additional income tax expense on those foreign earnings, the amount of which is not practicable to compute.

FAIR VALUE MEASUREMENTS (Polici

FAIR VALUE MEASUREMENTS (Policies)	12 Months Ended
	Nov. 01, 2015
FAIR VALUE MEASUREMENTS [Abstract]
Fair Value Financial Instruments Policy	The accounting framework for determining fair value includes a hierarchy for ranking the quality and reliability of the information used to measure fair value, which enables the reader of the financial statements to assess the inputs used to develop those measurements. The fair value hierarchy consists of three tiers as follows: Level 1, defined as quoted market prices in active markets for identical securities; Level 2, defined as inputs other than Level 1 that are observable, either directly or indirectly; and Level 3, defined as unobservable inputs that are not corroborated by market data.

RECENT ACCOUNTING PRONOUNCEME37

RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	12 Months Ended
	Nov. 01, 2015
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
Recent Accounting Pronouncements	In November 2015 the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-17 “Balance Sheet Classification of Deferred Taxes”, which requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. This ASU is effective for the Company in its first quarter of fiscal 2017, with early application permitted and, upon adoption, may be applied either prospectively or retrospectively. The Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In April 2015 the FASB issued ASU 2015-03 “Simplifying the Presentation of Debt Issuance Costs”, which requires debt issuance costs related to recognized debt liability to be presented in the balance sheet as a direct deduction from that debt liability, consistent with the presentation of a debt discount. This ASU is effective for the Company in its first quarter of fiscal 2017 and, upon adoption, should be applied retrospectively. Early adoption is permitted. The Company is currently evaluating the effect this ASU will have on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09 – Revenue from Contracts with Customers, which will supersede nearly all existing revenue recognition guidance under accounting principles generally accepted in the United States. The core principle of this ASU is that revenue should be recognized for the amount of consideration expected to be received for promised goods or services transferred to customers. This ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments, and assets recognized for costs incurred to obtain or fulfill a contract. In August 2015 the FASB issued ASU 2015-14 which defers the effective date of ASU 2014-09 by one year and allows entities to early adopt, but no earlier than the original effective date. ASU 2014-09 will now be effective for the Company in its first quarter of fiscal 2019. ASU 2014-09 allows for either full retrospective or modified retrospective adoption. The Company is evaluating the transition method that will be elected and the potential effects of the adoption of ASU 2014-09 on its consolidated financial statements.

ACQUISITION OF DNP PHOTOMASK 38

ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD. (Tables)	12 Months Ended
	Nov. 01, 2015
ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD. [Abstract]
Fair values of assets acquired and liabilities assumed	The following table summarizes the fair values of assets acquired and liabilities assumed of DPTT, the fair value of the noncontrolling interests and consideration for DPTT at the acquisition date. Cash and cash equivalents $ 4,508 Accounts receivable (gross amount of $28,560, of which $500 is estimated to be uncollectable) 28,060 Inventory 1,279 Deferred tax asset 9,787 Other current assets 11,517 Property, plant and equipment 95,431 Identifiable intangible assets 1,552 Other long-term assets 1,328 Accounts payable and accrued expenses (32,410 ) Deferred tax liability (3,042 ) Other long-term liabilities (3,291 ) Total net assets acquired 114,719 Noncontrolling interests retained by DNP 57,348 57,371 Consideration – 49.99% of fair value of PSMC 40,999 Gain on acquisition $ 16,372
Pro forma information	The following unaudited pro forma financial information presents financial information as if the DPTT acquisition had occurred as of the beginning of fiscal year 2013. The pro forma earnings for fiscal years 2014 and 2013 were adjusted to exclude the above mentioned $2.5 million and $0.8 million non-recurring acquisition related costs and the gain on acquisition of $16.4 million. Other material non-recurring pro forma adjustments made to arrive at the below earnings amounts included the add back of additional depreciation recorded against DPTT long-lived assets of $6.6 million and $12.9 million for fiscal years 2014 and 2013, respectively. The pro forma information presented does not purport to represent results that would have been achieved had the merger occurred as of the beginning of the earliest period presented, or to be indicative of the Company’s future financial performance. Year Ended November 2, 2014 November 3, 2013 Revenues $ 499,968 $ 514,265 Net income $ 23,969 $ 34,922 Net income attributable to Photronics, Inc. shareholders $ 12,169 $ 21,902 Diluted earnings per share $ 0.19 $ 0.36

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Nov. 01, 2015
PROPERTY, PLANT AND EQUIPMENT [Abstract]
Property, plant and equipment	Property, plant and equipment consists of the following: November 1, 2015 November 2, 2014 Land $ 8,172 $ 8,598 Buildings and improvements 121,472 124,787 Machinery and equipment 1,458,623 1,367,691 Leasehold improvements 18,856 20,165 Furniture, fixtures and office equipment 12,700 12,086 Construction in progress 6,657 81,351 1,626,480 1,614,678 Less accumulated depreciation and amortization 1,079,196 1,064,609 $ 547,284 $ 550,069
Property under capital leases included in property, plant and equipment	Property under capital leases are included in above property, plant and equipment as follows: November 1, 2015 November 2, 2014 Machinery and equipment $ 56,245 $ 56,245 Less accumulated amortization 16,054 10,430 $ 40,191 $ 45,815

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	12 Months Ended
	Nov. 01, 2015
INTANGIBLE ASSETS [Abstract]
Intangible assets	Intangible assets consist of: As of November 1, 2015 Gross Amount Accumulated Amortization Net Amount Technology license agreement $ 59,616 $ 37,426 $ 22,190 Customer relationships 8,616 7,229 1,387 Supply agreements 6,959 6,828 131 Software and other 6,577 5,669 908 $ 81,768 $ 57,152 $ 24,616 As of November 2, 2014 Technology license agreement $ 59,616 $ 33,451 $ 26,165 Customer relationships 8,716 6,394 2,322 Supply agreements 6,959 6,605 354 Software and other 6,223 4,770 1,453 $ 81,514 $ 51,220 $ 30,294
Intangible asset amortization over the next five years	Intangible asset amortization over the next five years is estimated to be as follows: Fiscal Years: 2016 $ 4,928 2017 4,410 2018 4,410 2019 4,410 2020 4,410

JOINT VENTURE, TECHNOLOGY LIC41

JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC. (Tables)	12 Months Ended
	Nov. 01, 2015
JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC. [Abstract]
Summarized financial information of equity method investment	Summarized financial information of MP Mask is presented below. As of Fiscal Year End 2015 2014 Current assets $ 30,567 $ 31,696 Noncurrent assets 173,840 205,457 Current liabilities 18,234 44,024 Noncurrent liabilities - 6,804 Fiscal Year 2015 2014 2013 Net sales $ 96,068 $ 81,399 $ 77,900 Gross profit 1,215 3,427 4,663 Net income (loss) (151 ) 1,259 4,735

LONG-TERM BORROWINGS (Tables)

LONG-TERM BORROWINGS (Tables)	12 Months Ended
	Nov. 01, 2015
LONG-TERM BORROWINGS [Abstract]
Long-term borrowings	Long-term borrowings consist of the following: November 1, 2015 November 2, 2014 3.25% convertible senior notes due in April 2016 $ 57,500 $ 115,000 3.25% convertible senior notes due in April 2019 57,500 - 2.77% capital lease obligation payable through July 2018 15,346 20,481 3.09% capital lease obligation payable through March 2016 2,269 6,705 132,615 142,186 Less current portion 65,495 10,381 $ 67,120 $ 131,805
Minimum lease payments under the company's capital lease obligations	As of November 1, 2015, minimum lease payments under the Company's capital lease obligations were as follows: Fiscal Years: 2016 $ 8,398 2017 5,168 2018 4,698 18,264 Less interest 649 Net minimum lease payments under capital leases 17,615 Less current portion of net minimum lease payments 7,995 Long-term portion of minimum lease payments $ 9,620

OPERATING LEASES (Tables)

OPERATING LEASES (Tables)	12 Months Ended
	Nov. 01, 2015
OPERATING LEASES [Abstract]
Future minimum lease payments under non-cancelable operating leases	At November 1, 2015, future minimum lease payments under non-cancelable operating leases with initial terms in excess of one year are as follows: 2016 $ 2,116 2017 1,665 2018 622 2019 368 2020 317 Thereafter 1,534 $ 6,622

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Nov. 01, 2015
SHARE-BASED COMPENSATION [Abstract]
Weighted-average inputs and risk-free rate of return ranges used to calculate the grant date fair value of options	The weighted-average inputs and risk-free rate of return ranges used to calculate the grant date fair values of options issued during fiscal years 2015, 2014 and 2013 are presented in the following Year Ended November 1, 2015 November 2, 2014 November 3, 2013 Expected volatility 53.7 % 61.0 % 98.0 % Risk-free rate of return 1.3 – 1.6 % 1.4 % 0.5 – 1.4 % Dividend yield 0.0 % 0.0 % 0.0 % Expected term 4.7 years 4.6 years 4.3 years
Summary of option activity	A summary of option activity under the Plan as of November 1, 2015, and changes during the year then ended is presented as follows: Options Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at November 2, 2014 4,076,781 $ 7.60 Granted 679,800 8.32 Exercised (459,188 ) 4.60 Cancelled and forfeited (494,225 ) 13.82 Outstanding at November 1, 2015 3,803,168 $ 7.29 6.0 years $ 11,215 Exercisable at November 1, 2015 2,299,693 $ 6.92 4.5 years $ 8,592 Vested and expected to vest as of November 1, 2015 3,705,186 $ 7.28 5.9 years $ 11,039
Summary of the status of the company's outstanding restricted stock awards	A summary of the status of the Company's outstanding restricted stock awards as of November 1, 2015, is presented below: Restricted Stock Shares Weighted-Average Fair Value at Grant Date Outstanding at November 2, 2014 235,481 $ 6.81 Granted 121,334 8.28 Vested (159,039 ) 7.25 Cancelled (8,188 ) 7.87 Outstanding at November 1, 2015 189,588 $ 7.34 Vested and expected to vest as of November 1, 2015 179,471 $ 7.35

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Nov. 01, 2015
INCOME TAXES [Abstract]
Income (loss) before income tax provision for domestic and foreign	Income before the income tax provisions consist of the following: Year Ended November 1, 2015 November 2, 2014 November 3, 2013 United States $ 6,646 $ (23,083 ) $ (14,164 ) Foreign 63,394 64,413 40,969 $ 70,040 $ 41,330 $ 26,805
Income tax provision	The income tax provisions consist of the following: Year Ended November 1, 2015 November 2, 2014 November 3, 2013 Current: Federal $ 160 $ 354 $ 208 State (109 ) - 65 Foreign 9,729 4,726 7,222 Deferred: Federal - - - State 7 (5 ) (181 ) Foreign 3,394 4,220 (85 ) Total $ 13,181 $ 9,295 $ 7,229
Income tax rate reconciliation	The income tax provisions differ from the amount computed by applying the statutory U.S. federal income tax rate to income before income taxes as a result of the following: Year Ended November 1, 2015 November 2, 2014 November 3, 2013 U.S. federal income tax at statutory rate $ 24,514 $ 14,465 $ 9,382 Changes in valuation allowances (11,471 ) (7,575 ) 1,325 Distributions from foreign subsidiaries 448 12,674 1,957 State income taxes, net of federal benefit 263 (141 ) 267 Foreign tax rate differentials (4,356 ) (4,864 ) (4,851 ) Tax credits (2,729 ) (2,847 ) (3,967 ) Uncertain tax positions, including reserves, settlements and resolutions (175 ) (2,255 ) 1,471 Gain on acquisition of DPTT - (5,748 ) - Intercompany gain elimination - 4,759 - Tax on foreign subsidiary earnings 6,589 - - Equity based compensation 634 714 765 Other, net (536 ) 113 880 $ 13,181 $ 9,295 $ 7,229
Net deferred income tax assets	The net deferred income tax assets consist of the following: As of November 1, 2015 November 2, 2014 Deferred income tax assets Net operating losses $ 56,582 $ 64,529 Reserves not currently deductible 8,158 6,948 Alternative minimum tax credits 3,281 3,121 Tax credit carryforwards 8,809 8,368 Other 1,782 1,773 78,612 84,739 Valuation allowances (38,763 ) (49,548 ) 39,849 35,191 Deferred income tax liabilities: Undistributed earnings of foreign subsidiaries (5,953 ) (5,366 ) Property, plant and equipment (17,874 ) (11,503 ) Investments (4,596 ) (2,660 ) Other (552 ) (448 ) (28,975 ) (19,977 ) Net deferred income tax assets $ 10,874 $ 15,214 Reported as: Current deferred tax assets $ 3,354 $ 7,223 Noncurrent deferred tax assets 11,908 11,036 Noncurrent deferred tax liabilities (4,388 ) (3,045 ) $ 10,874 $ 15,214
Reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties	A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties, is as follows: Year Ended November 1, 2015 November 2, 2014 November 3, 2013 Balance at beginning of year $ 4,993 $ 4,757 $ 3,793 Additions (reductions) for tax positions in prior years (212 ) 3,437 1,224 Additions based on current year tax positions 318 272 207 Settlements (720 ) (3,155 ) (406 ) Lapses of statutes of limitations (350 ) (318 ) (61 ) Balance at end of year $ 4,029 $ 4,993 $ 4,757
Operating loss carryforwards	The following tables present the Company’s available operating loss and credit carryforwards at November 1, 2015, and the related expiration periods: Operating Loss Carryforwards Amount Expiration Period Federal $ 120,263 2023-2035 State $ 214,591 2016-2035 Foreign $ 35,464 2016-2023
Tax credit carryforwards	Tax Credit Carryforwards Amount Expiration Period Federal research and development $ 4,337 2019-2035 Federal alternative minimum tax $ 3,281 Indefinite State tax $ 6,879 2016-2029

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Nov. 01, 2015
EARNINGS PER SHARE [Abstract]
Calculation of basic and diluted earnings per share	The calculation of basic and diluted earnings per share is presented as follows: Year Ended November 1, 2015 November 2, 2014 November 3, 2013 Net income attributable to Photronics, Inc. shareholders $ 44,625 $ 25,996 $ 17,966 Effect of dilutive securities: Interest expense on convertible notes, net of related tax effects 4,363 1,426 - Earnings for diluted earnings per share $ 48,988 $ 27,422 $ 17,966 Weighted-average common shares computations: Weighted-average common shares used for basic earnings per share 66,331 61,779 60,644 Effect of dilutive securities: Convertible notes 11,085 3,945 - Share-based payment awards 967 955 813 Common stock warrants - - 142 Dilutive common shares 12,052 4,900 955 Weighted-average common shares used for diluted earnings per share 78,383 66,679 61,599 Basic earnings per share $ 0.67 $ 0.42 $ 0.30 Diluted earnings per share $ 0.63 $ 0.41 $ 0.29
Outstanding securities excluded from the calculation of diluted earnings per share	The table below shows the outstanding weighted-average share-based payment awards that were excluded from the calculation of diluted earnings per share because their exercise price exceeded the average market value of the common shares for the period or, under application of the treasury stock method, they were otherwise determined to be antidilutive. The table also shows convertible notes that, if converted, would have been antidilutive. Year Ended November 1, 2015 November 2, 2014 November 3, 2013 Share based payment awards 1,641 1,911 2,880 Convertible notes - 11,085 6,168 Total potentially dilutive shares excluded 1,641 12,996 9,048

SUBSIDIARY SHARE REPURCHASES 47

SUBSIDIARY SHARE REPURCHASES AND TENDER OFFER (Tables)	12 Months Ended
	Nov. 01, 2015
SUBSIDIARY SHARE REPURCHASES AND TENDER OFFER [Abstract]
Effect of change in the entity's ownership interest in subsidiaries	The table below presents the effect of the change in the Company’s ownership interest in PSMC and PKL on the Company's equity for fiscal years 2015, 2014 and 2013 (in 2015 shares of PKL common stock were purchased, in 2014 shares of PSMC common stock were issued in connection with the DPTT Acquisition and shares were acquired from the former noncontrolling interests, and in 2013 shares of PSMC common stock were purchased). Year Ended November 1, 2015 November 2, 2014 November 3, 2013 Net income attributable to Photronics, Inc. shareholders $ 44,625 $ 25,996 $ 17,966 Increase (decrease) in Photronics, Inc.'s additional paid-in capital 28 (6,183 ) 600 Increase (decrease) in Photronics, Inc.’s accumulated other comprehensive income - 399 (237 ) Change from net income attributable to Photronics, Inc. shareholders due to issuance of shares of PDMC and transfers to or from noncontrolling interests $ 44,653 $ 20,212 $ 18,329

GEOGRAPHIC AND SIGNIFICANT CU48

GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION (Tables)	12 Months Ended
	Nov. 01, 2015
GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION [Abstract]
Geographic information	The Company's 2015, 2014 and 2013 net sales by geographic area and of ICs and FPDs, and long-lived assets by geographic area were as follows: Year Ended November 1, 2015 November 2, 2014 November 3, 2013 Net sales Taiwan $ 205,141 $ 167,075 $ 117,364 Korea 147,921 140,386 134,300 United States 132,792 106,740 127,054 Europe 35,792 38,726 41,126 All other Asia 2,560 2,600 2,336 $ 524,206 $ 455,527 $ 422,180 IC $ 420,833 $ 352,679 $ 320,579 FPD 103,373 102,848 101,601 $ 524,206 $ 455,527 $ 422,180 As of November 1, 2015 November 2, 2014 November 3, 2013 Long-lived assets Taiwan $ 185,087 $ 207,324 $ 66,836 Korea 167,618 176,141 153,878 United States 184,282 158,325 191,518 Europe 10,287 8,259 10,471 All other Asia 10 20 37 $ 547,284 $ 550,069 $ 422,740

CHANGES IN ACCUMULATED OTHER 49

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME BY COMPONENT (Tables)	12 Months Ended
	Nov. 01, 2015
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME BY COMPONENT [Abstract]
Schedule changes in accumulated other comprehensive income by component	The following tables set forth the changes in the Company's accumulated other comprehensive income by component (net of tax of $0) for the years ended November 1, 2015 and November 2, 2014: Year Ended November 1, 2015 Foreign Currency Translation Adjustments Amortization of Cash Flow Hedge Other Total Balance at November 2, 2014 $ 22,651 $ (434 ) $ (443 ) $ 21,774 Other comprehensive income (loss) before reclassifications (40,154 ) - (381 ) (40,535 ) Amounts reclassified from other accumulated comprehensive income - 128 - 128 Net current period other comprehensive income (loss) (40,154 ) 128 (381 ) (40,407 ) Less: other comprehensive loss attributable to noncontrolling interests 7,869 - 191 8,060 Balance at November 1, 2015 $ (9,634 ) $ (306 ) $ (633 ) $ (10,573 ) Year Ended November 2, 2014 Foreign Currency Translation Adjustments Amortization of Cash Flow Hedge Other Total Balance at November 3, 2013 $ 27,797 $ (562 ) $ (832 ) $ 26,403 Other comprehensive loss before reclassifications (5,916 ) - (41 ) (5,957 ) Amounts reclassified from other accumulated comprehensive income - 128 - 128 Net current period other comprehensive income (loss) (5,916 ) 128 (41 ) (5,829 ) Less: other comprehensive loss attributable to noncontrolling interests 770 - 31 801 Other accumulated comprehensive income allocated to noncontrolling interests - - 410 410 Purchase of common stock of subsidiary - - (11 ) (11 ) Balance at November 2, 2014 $ 22,651 $ (434 ) $ (443 ) $ 21,774

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Nov. 01, 2015
FAIR VALUE MEASUREMENTS [Abstract]
Fair and carrying values of convertible senior notes	The table below presents the fair and carrying values of the Company's convertible senior notes at November 1, 2015, and November 2, 2014. November 1, 2015 November 2, 2014 Fair Value Carrying Value Fair Value Carrying Value 3.25% convertible senior notes due 2016 $ 60,375 $ 57,500 $ 122,544 $ 115,000 3.25% convertible senior notes due 2019 $ 64,550 $ 57,500 $ - $ -

QUARTERLY RESULTS OF OPERATIO51

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)	12 Months Ended
	Nov. 01, 2015
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) [Abstract]
Quarterly financial data	NOTE 20 - QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The following table sets forth certain unaudited quarterly financial data: First Second Third Fourth Year Fiscal 2015: (a) (a) Net sales $ 123,505 $ 127,309 $ 131,699 $ 141,693 $ 524,206 Gross margin 28,184 33,095 37,243 44,614 143,136 Net income 7,142 12,156 15,410 22,151 56,859 Net income attributable to Photronics, Inc. shareholders 3,837 10,060 12,106 18,622 44,625 Earnings per share: Basic $ 0.06 $ 0.15 $ 0.18 $ 0.28 $ 0.67 Diluted $ 0.06 $ 0.14 $ 0.17 $ 0.25 $ 0.63 Fiscal 2014: (b) (c)(d) (c)(e) Net sales $ 101,542 $ 104,882 $ 124,852 $ 124,251 $ 455,527 Gross margin 22,882 22,190 28,650 26,624 100,346 Net income 2,041 15,950 7,344 6,700 32,035 Net income attributable to Photronics, Inc. shareholders 1,993 15,540 4,186 4,277 25,996 Earnings per share: Basic $ 0.03 $ 0.25 $ 0.07 $ 0.07 $ 0.42 Diluted $ 0.03 $ 0.22 $ 0.07 $ 0.07 $ 0.41 (a) Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes. (b) Includes expenses of $0.5 million, net of tax, related to the acquisition of DPTT. (c) Includes non-cash gain of $16.4 million, net of tax, related to the acquisition of DPTT. (d) Includes expenses of $2.0 million, net of tax, related to the acquisition of DPTT. (e) Includes expenses of $2.5 million, net of tax, related to the acquisition of DPTT.

SUMMARY OF SIGNIFICANT ACCOUN52

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Millions	12 Months Ended
	Nov. 01, 2015USD ($)FacilitySubsidiary	Nov. 02, 2014USD ($)	Nov. 03, 2013USD ($)
Manufacturing Facilities by Geographical Region [Line Items]
Number of manufacturing facilities	9
Foreign Currency [Abstract]
Foreign currency transaction gain | $	$ 2.5	$ 1.4	$ 0.5
Noncontrolling Interest [Abstract]
Number of majority owned subsidiaries | Subsidiary	2
Period of warranty	30 days
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	3 years
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	15 years
Buildings and Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	15 years
Buildings and Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	40 years
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	3 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	10 years
Furniture, Fixtures and Office Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	3 years
Furniture, Fixtures and Office Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives	5 years
PK Ltd [Member]
Noncontrolling Interest [Abstract]
Ownership percentage of noncontrolling interests	0.20%	0.30%
PDMC [Member]
Noncontrolling Interest [Abstract]
Ownership percentage of noncontrolling interests	49.99%	49.99%
Europe [Member]
Manufacturing Facilities by Geographical Region [Line Items]
Number of manufacturing facilities	2
Taiwan [Member]
Manufacturing Facilities by Geographical Region [Line Items]
Number of manufacturing facilities	3
Korea [Member]
Manufacturing Facilities by Geographical Region [Line Items]
Number of manufacturing facilities	1
United States [Member]
Manufacturing Facilities by Geographical Region [Line Items]
Number of manufacturing facilities	3

ACQUISITION OF DNP PHOTOMASK 53

ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD. (Details) - USD ($) shares in Millions, $ in Millions	Apr. 04, 2014	Nov. 02, 2014	Nov. 02, 2014	Nov. 03, 2013
Business Acquisition [Line Items]
Date of acquisition			Apr. 4, 2014
Consideration transferred	$ 98.3
Ownership percentage in PDMC		50.01%	50.01%
Acquisition costs related to the merger included in selling, general and administrative expense			$ 2.5	$ 0.8
Customer Relationships [Member]
Business Acquisition [Line Items]
Estimated amortization period			12 years
DNP [Member]
Business Acquisition [Line Items]
Ownership percentage of noncontrolling interests		49.99%	49.99%
PSMC [Member]
Business Acquisition [Line Items]
Number of shares transferred to noncontrolling interests (in shares)	112.9
DPTT [Member]
Business Acquisition [Line Items]
Pro forma adjustment for additional depreciation recorded on acquired long-lived assets			$ 6.6	$ 12.9
PDMC [Member]
Business Acquisition [Line Items]
Revenues		$ 101.8
Net income		$ 6

ACQUISITION OF DNP PHOTOMASK 54

ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD., Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Apr. 04, 2014	May. 04, 2014	Nov. 01, 2015	Nov. 02, 2014	Nov. 03, 2013
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Gain on acquisition		$ 16,400	$ 0	$ 16,372	$ 0
PDMC [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Cash and cash equivalents	$ 4,508
Accounts receivable (gross amount of $28,560, of which $500 is estimated to be uncollectable)	28,060
Inventory	1,279
Deferred tax asset	9,787
Other current assets	11,517
Property, plant and equipment	95,431
Identifiable intangible assets	1,552
Other long-term assets	1,328
Accounts payable and accrued expenses	(32,410)
Deferred tax liability	(3,042)
Other long-term liabilities	(3,291)
Total net assets acquired	114,719
Noncontrolling interests retained by DNP	57,348
Total net assets acquired less noncontrolling interests	57,371
Consideration - 49.99% of fair value of PSMC	40,999
Gain on acquisition	16,372
Accounts receivable gross amount	28,560
Accounts receivable estimated to be uncollectable	$ 500

ACQUISITION OF DNP PHOTOMASK 55

ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD., Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Nov. 01, 2015

Aug. 02, 2015

May. 03, 2015

Feb. 01, 2015

[1]

Nov. 02, 2014

Aug. 03, 2014

May. 04, 2014

[2],[3]

Feb. 02, 2014

[4]

Nov. 01, 2015

[1]

Nov. 02, 2014

Nov. 03, 2013

Business Acquisition, Pro Forma Information [Abstract]

Revenues

$ 499,968

$ 514,265

Net income

23,969

34,922

Net income attributable to Photronics, Inc. shareholders

$ 18,622

$ 12,106

$ 10,060

$ 3,837

$ 4,277

$ 4,186

$ 15,540

$ 1,993

$ 44,625

$ 25,996

[3],[5]

$ 17,966

Diluted earnings per share (in dollars per share)

$ 0.19

$ 0.36

Pro Forma [Member]

Business Acquisition, Pro Forma Information [Abstract]

Net income attributable to Photronics, Inc. shareholders

$ 12,169

$ 21,902

[1]

Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.

[2]

Includes expenses of $2.0 million, net of tax, related to the acquisition of DPTT.

[3]

Includes non-cash gain of $16.4 million, net of tax, related to the acquisition of DPTT.

[4]

Includes expenses of $0.5 million, net of tax, related to the acquisition of DPTT.

[5]

Includes expenses of $2.5 million, net of tax, related to the acquisition of DPTT.

PROPERTY, PLANT AND EQUIPMENT56

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	Nov. 01, 2015	Nov. 02, 2014	Nov. 03, 2013
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	$ 1,626,480	$ 1,614,678
Less accumulated depreciation and amortization	1,079,196	1,064,609
Property, plant and equipment, net	547,284	550,069	$ 422,740
Property under capital leases included in property, plant and equipment [Abstract]
Capital leased assets, gross	56,245	56,245
Less accumulated amortization	16,054	10,430
Capital leased assets, net	40,191	45,815
Land [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	8,172	8,598
Buildings and Improvements [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	121,472	124,787
Machinery and Equipment [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	1,458,623	1,367,691
Leasehold Improvements [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	18,856	20,165
Furniture, Fixtures and Office Equipment [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	12,700	12,086
Construction in Progress [Member]
Property, plant and equipment [Abstract]
Property, plant and equipment, gross	$ 6,657	$ 81,351

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 03, 2013
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 6,000	$ 5,800	$ 5,500
Weighted-average amortization period for intangible assets acquired during the year	3 years	9 years
Intangible assets, net [Abstract]
Gross Amount	$ 81,768	$ 81,514
Accumulated Amortization	57,152	51,220
Net Amount	24,616	30,294
Intangible asset amortization over the next five years [Abstract]
2,016	4,928
2,017	4,410
2,018	4,410
2,019	4,410
2,020	4,410
Technology License Agreement [Member]
Intangible assets, net [Abstract]
Gross Amount	59,616	59,616
Accumulated Amortization	37,426	33,451
Net Amount	22,190	$ 26,165
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period for intangible assets acquired during the year		12 years
Intangible assets, net [Abstract]
Gross Amount	8,616	$ 8,716
Accumulated Amortization	7,229	6,394
Net Amount	1,387	2,322
Supply Agreements [Member]
Intangible assets, net [Abstract]
Gross Amount	6,959	6,959
Accumulated Amortization	6,828	6,605
Net Amount	$ 131	$ 354
Software and Other [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period for intangible assets acquired during the year	3 years	3 years
Intangible assets, net [Abstract]
Gross Amount	$ 6,577	$ 6,223
Accumulated Amortization	5,669	4,770
Net Amount	$ 908	$ 1,453

JOINT VENTURE, TECHNOLOGY LIC58

JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC. (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2015	Nov. 01, 2015	Nov. 02, 2014	Nov. 03, 2013
Variable Interest Entity [Line Items]
Variable interest entity, methodology for determining whether entity is primary beneficiary		This joint venture is a variable interest entity ("VIE") (as that term is defined in the ASC) because all costs of the joint venture are passed on to the Company and Micron through purchase agreements they have entered into with the joint venture, and it is dependent upon the Company and Micron for any additional cash requirements. On a quarterly basis the Company reassesses whether its interest in MP Mask gives it a controlling financial interest in this VIE. The purpose of this quarterly reassessment is to identify the primary beneficiary (which is defined in the ASC as the entity that consolidates a VIE) of the VIE. As a result of the reassessments in fiscal year 2015, the Company determined that Micron is still the primary beneficiary of the VIE, by virtue of its tie-breaking voting rights within MP Mask’s Board of Managers, thereby giving it the power to direct the activities of MP Mask that most significantly impact its economic performance, including its decision making authority in the ordinary course of business and its purchasing the majority of products produced by the VIE.
Amount receivable from Micron Technology, Inc.		$ 110,056	$ 94,515
Amortization of supply agreement		6,000	5,800	$ 5,500
Cost of sales		381,070	355,181	322,540
Research and development expenses		21,920	21,913	20,758
Summarized financial information of MP Mask [Abstract]
Current assets		30,567	31,696
Noncurrent assets		173,840	205,457
Current liabilities		18,234	44,024
Noncurrent liabilities		0	6,804
Net sales		96,068	81,399	77,900
Gross Profit		1,215	3,427	4,663
Net income (loss)		(151)	1,259	4,735
MP Mask [Member]
Variable Interest Entity [Line Items]
Additional investment in joint venture		0	0
Distributions from joint venture		0	0
Maximum exposure to loss from investment in VIE		93,000	93,100
Income (loss) from equity-method investee		(100)	0	(100)
Amount owed to MP Mask		4,300	4,200	4,500
Commission revenue earned under supply agreement		800	1,200	900
Amortization of supply agreement		200	200	300
Cost of sales		4,800	3,200	8,700
Research and development expenses		3,100	1,600	1,600
Purchase of equipment			1,300	6,100
Approximate net book value of equity method investment		$ 93,000
Valuation date of net book value of equity method investment		Sep. 3, 2015
Co-venturer [Member]
Variable Interest Entity [Line Items]
Amount receivable from Micron Technology, Inc.		$ 6,400	$ 6,800	$ 4,900
New agreements announcement date	Mar. 24, 2015
Joint venture end date	May 5, 2016
Supply and license agreements end date	May 6, 2017
Supply agreement term subject to mutually agreeable renewals	1 year

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($) $ in Millions	Nov. 01, 2015	Nov. 02, 2014
ACCRUED LIABILITIES [Abstract]
Salaries, wages and related benefits	$ 14.3	$ 10.4
Acquisition liabilities	$ 7.1	$ 7.2

LONG-TERM BORROWINGS (Details)

LONG-TERM BORROWINGS (Details)	1 Months Ended		12 Months Ended
	Jan. 31, 2015USD ($)shares$ / shares	Mar. 31, 2011USD ($)shares$ / shares	Nov. 01, 2015USD ($)	Nov. 02, 2014USD ($)	Nov. 03, 2013USD ($)
Long-term borrowings and Long-term Debt, unclassified [Abstract]
Long-term debt and capital lease obligations			$ 132,615,000	$ 142,186,000
Less current portion			65,495,000	10,381,000
Long-term debt and capital lease obligations non current			67,120,000	131,805,000
Interest payments			4,400,000	6,300,000	$ 6,300,000
Deferred financing cost payments			0	346,000	$ 40,000
Future interest on capital lease obligations			649,000
Minimum lease payments under the Company's capital lease obligations [Abstract]
2,016			8,398,000
2,017			5,168,000
2,018			4,698,000
Future minimum payments due			18,264,000
Net minimum lease payments under capital leases			17,615,000
Less current portion of net minimum lease payments			7,995,000
Long-term portion of minimum lease payments			$ 9,620,000
Credit Facility [Member]
Long-term borrowings and Long-term Debt, unclassified [Abstract]
Variable interest rate			1.44%
Maturity date of debt			Dec. 31, 2018
Maximum borrowing capacity			$ 75,000,000
Current borrowing capacity			50,000,000
Available borrowing capacity			50,000,000
Amount outstanding under credit facility			0
3.25% Convertible Senior Notes due on April 1, 2016 [Member]
Long-term borrowings and Long-term Debt, unclassified [Abstract]
Convertible Debt			$ 57,500,000	115,000,000
Interest rate percentage			3.25%
Maturity date of debt			Apr. 1, 2016
Face amount of each note converted		$ 1,000
Number of shares each note is convertible to (in shares) | shares		96
Conversion price per share (in dollars per share) | $ / shares		$ 10.37
3.25% convertible senior notes due in April 1, 2019 [Member]
Long-term borrowings and Long-term Debt, unclassified [Abstract]
Convertible Debt			$ 57,500,000	0
Interest rate percentage			3.25%
Maturity date of debt			Apr. 1, 2019
Face amount of each note converted	$ 1,000
Number of shares each note is convertible to (in shares) | shares	96
Conversion price per share (in dollars per share) | $ / shares	$ 10.37
2.77% Capital Lease Obligations Payable through July 2018 [Member]
Long-term borrowings and Long-term Debt, unclassified [Abstract]
Long-term debt and capital lease obligations			$ 15,346,000	20,481,000
Interest rate percentage			2.77%
Maturity date of debt			Jul. 31, 2018
Original face amount of debt			$ 26,400,000
Periodic payments			$ 500,000
Frequency of periodic payment			per month
Repayment period of debt			5 years
Amount payable through the end of lease term			$ 16,000,000
Future interest on capital lease obligations			700,000
3.09% Capital Lease Obligation Payable through March 2016 [Member]
Long-term borrowings and Long-term Debt, unclassified [Abstract]
Long-term debt and capital lease obligations			$ 2,269,000	$ 6,705,000
Interest rate percentage			3.09%
Maturity date of debt			Mar. 30, 2016
Original face amount of debt			$ 21,200,000
Periodic payments			$ 400,000
Frequency of periodic payment			per month
Repayment period of debt			5 years

OPERATING LEASES (Details)

OPERATING LEASES (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 03, 2013
OPERATING LEASES [Abstract]
Rent expense under operating leases	$ 2,800	$ 2,800	$ 2,700
Future minimum lease payments under non-cancelable operating leases [Abstract]
2,016	2,116
2,017	1,665
2,018	622
2,019	368
2,020	317
Thereafter	1,534
Total future minimum payments due	$ 6,622

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 03, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Date and terms of plan modification	The Company has a share-based compensation plan ("Plan"), under which options, restricted stock, restricted stock units, stock appreciation rights, performance stock, performance units, and other awards based on, or related to, shares of the Company's common stock may be granted from shares authorized but unissued or shares previously issued and reacquired by the Company
Maximum number of shares of common stock that may be issued (in shares)	9,000,000		6,000,000
Share-based compensation costs incurred	$ 3,700	$ 4,100	$ 4,000
Share-based compensation cost capitalized	0	0	0
Income tax benefits realized from stock option exercises	$ 0	$ 0	$ 0
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term	10 years
Weighted-average inputs and risk-free rate of return ranges used to calculate the grant date fair value of options [Abstract]
Expected volatility	53.70%	61.00%	98.00%
Risk free rate of return		1.40%
Risk free rate of return, minimum	1.30%		0.50%
Risk free rate of return, maximum	1.60%		1.40%
Dividend yield	0.00%	0.00%	0.00%
Expected term	4 years 8 months 12 days	4 years 7 months 6 days	4 years 3 months 18 days
Shares [Rollforward]
Outstanding at November 2, 2014 (in shares)	4,076,781
Granted (in shares)	679,800
Exercised (in shares)	(459,188)
Cancelled and forfeited (in shares)	(494,225)
Outstanding at November 1, 2015 (in shares)	3,803,168	4,076,781
Exercisable at November 1, 2015 (in shares)	2,299,693
Vested and expected to vest as of November 1, 2015 (in shares)	3,705,186
Weighted-Average Exercise Price [Abstract]
Outstanding at November 2, 2014 (in dollars per share)	$ 7.60
Granted (in dollars per share)	8.32
Exercised (in dollars per share)	4.60
Cancelled and forfeited (in dollars per share)	13.82
Outstanding at November 1, 2015 (in dollars per share)	7.29	$ 7.60
Exercisable at November 1, 2015 (in dollars per share)	6.92
Vested and expected to vest as of November 1, 2015 (in dollars per share)	$ 7.28
Weighted Average Remaining Contractual Life [Abstract]
Outstanding at November 1, 2015	6 years
Exercisable at November 1, 2015	4 years 6 months
Vested and expected to vest as of November 1, 2015	5 years 10 months 24 days
Aggregate Intrinsic Value [Abstract]
Outstanding at November 1, 2015	$ 11,215
Exercisable at November 1, 2015	8,592
Vested and expected to vest as of November 1, 2015	$ 11,039
Stock Option Additional Disclosures [Abstract]
Weighted-average grant date fair value of options granted (in dollars per share)	$ 3.81	$ 4.44	$ 4
Total intrinsic value of options exercised	$ 2,000	$ 1,400	$ 1,600
Cash received from options exercises	2,200	$ 1,100	$ 500
Unrecognized compensation cost related to unvested option awards	$ 3,900
Period for recognition of compensation cost not yet recognized	2 years 4 months 24 days
Stock Options [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Stock Options [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Restricted Stock [Member]
Stock Option Additional Disclosures [Abstract]
Period for recognition of compensation cost not yet recognized	2 years 2 months 12 days
Shares [Rollforward]
Outstanding at November 2, 2014 (in shares)	235,481
Granted (in shares)	121,334
Vested (in shares)	(159,039)
Cancelled (in shares)	(8,188)
Outstanding at November 1, 2015 (in shares)	189,588	235,481
Vested and expected to vest (in shares)	179,471
Weighted-Average Fair Value at Grant Date [Abstract]
Outstanding at November 2, 2014 (in dollars per share)	$ 6.81
Granted (in dollars per share)	8.28	$ 8.86	$ 5.48
Vested (in dollars per share)	7.25
Cancelled (in dollars per share)	7.87
Outstanding at November 1, 2015 (in dollars per share)	7.34	$ 6.81
Vested and expected to vest as of November 1, 2015 (in dollars per share)	$ 7.35
Total fair value of awards for which restrictions lapsed	$ 1,400	$ 1,500	$ 1,300
Compensation cost not yet recognized related to share based payment awards other than options	$ 800
Restricted Stock [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Restricted Stock [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares of common stock that may be issued (in shares)	1,500,000
Award vesting period	1 year
Shares [Rollforward]
Outstanding at November 1, 2015 (in shares)	50,000
Weighted-Average Fair Value at Grant Date [Abstract]
Compensation cost not yet recognized related to share based payment awards other than options	$ 100
Percent of market price that participants pay for shares subscribed	85.00%
Total shares issued under ESPP since inception (in shares)	1,300,000

EMPLOYEE RETIREMENT PLANS (Deta

EMPLOYEE RETIREMENT PLANS (Details) - USD ($) $ in Millions	12 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 03, 2013
EMPLOYEE RETIREMENT PLAN [Abstract]
Number of months of service completed to come under retirement plan	3 months
Minimum age of employees to come under retirement plan	18 years
Percentage of salary that can be contributed by the employee	50.00%
Maximum percentage of employees' contributions that Company will match	50.00%
Maximum percentage of employees' gross pay that Company will match	4.00%
Company's contribution to defined contribution retirement plans	$ 0.7	$ 0.7	$ 0.6

INCOME TAXES (Details)

INCOME TAXES (Details) $ in Thousands	12 Months Ended
	Nov. 01, 2015USD ($)Audit	Nov. 02, 2014USD ($)	Nov. 03, 2013USD ($)	Oct. 28, 2012USD ($)
Components of income before income tax provision [Abstract]
United States	$ 6,646	$ (23,083)	$ (14,164)
Foreign	63,394	64,413	40,969
Income before income tax provision	70,040	41,330	26,805
Current [Abstract]
Federal	160	354	208
State	(109)	0	65
Foreign	9,729	4,726	7,222
Deferred [Abstract]
Federal	0	0	0
State	7	(5)	(181)
Foreign	3,394	4,220	(85)
Income Tax Expense (Benefit), Total	13,181	9,295	7,229
Income tax provision reconciliation [Abstract]
U.S. federal income tax at statutory rate	24,514	14,465	9,382
Changes in valuation allowances	(11,471)	(7,575)	1,325
Distributions from foreign subsidiaries	448	12,674	1,957
State income taxes, net of federal benefit	263	(141)	267
Foreign tax rate differentials	(4,356)	(4,864)	(4,851)
Tax credits	(2,729)	(2,847)	(3,967)
Uncertain tax positions, including reserves, settlements and resolutions	(175)	(2,255)	1,471
Gain on acquisition of DPTT	0	(5,748)	0
Intercompany gain elimination	0	4,759	0
Tax on foreign subsidiary earnings	6,589	0	0
Equity based compensation	634	714	765
Other, net	(536)	113	880
Income Tax Expense (Benefit), Total	$ 13,181	$ 9,295	$ 7,229
U.S. statutory rate	35.00%	35.00%	35.00%
Deferred income tax assets [Abstract]
Net operating losses	$ 56,582	$ 64,529
Reserves not currently deductible	8,158	6,948
Alternative minimum tax credits	3,281	3,121
Tax credit carryforwards	8,809	8,368
Other	1,782	1,773
Deferred tax assets	78,612	84,739
Valuation allowances	(38,763)	(49,548)
Deferred tax assets net of valuation allowance	39,849	35,191
Deferred income tax liabilities [Abstract]
Undistributed earnings of foreign subsidiaries	(5,953)	(5,366)
Property, plant and equipment	(17,874)	(11,503)
Investments	(4,596)	(2,660)
Other	(552)	(448)
Deferred income taxes liabilities	(28,975)	(19,977)
Net deferred income tax assets	10,874	15,214
Reported as [Abstract]
Current deferred tax assets	3,354	7,223
Noncurrent deferred tax assets	11,908	11,036
Noncurrent deferred tax liabilities	(4,388)	(3,045)
Net deferred income tax assets	10,874	15,214
Unrecognized tax benefits	4,029	4,993	$ 4,757	$ 3,793
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	4,100
Interest and penalties accrued related to uncertain tax positions.	$ 100	100
Number of foreign audits settled | Audit	2
Including Interest and Penalties [Member]
Reported as [Abstract]
Unrecognized tax benefits	$ 4,100	5,100
Recorded in Other Liabilities [Member]
Reported as [Abstract]
Unrecognized tax benefits		5,000
Reduction of Deferred Tax Asset [Member]
Reported as [Abstract]
Unrecognized tax benefits		$ 100

INCOME TAXES, UNRECOGNIZED TAX

INCOME TAXES, UNRECOGNIZED TAX BENEFITS AND CARRYFORWARDS (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 03, 2013
Reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties [Roll Forward]
Balance at beginning of year	$ 4,993	$ 4,757	$ 3,793
Reductions for tax positions in prior years	(212)
Additions for tax positions in prior years		3,437	1,224
Additions based on current year tax positions	318	272	207
Settlements	(720)	(3,155)	(406)
Lapses of statutes of limitations	(350)	(318)	(61)
Balance at end of year	4,029	4,993	4,757
Valuation Allowance [Abstract]
Valuation allowance increase (decrease)	(10,800)	(7,100)	1,100
Income taxes, additional disclosures [Abstract]
Undistributed earnings of foreign subsidiaries included in consolidated retained earnings	161,400
Earnings of foreign subsidiaries included in consolidated retained earnings which are considered not to be permanently reinvested	17,000
Remaining undistributed earnings considered to be indefinitely invested	144,400
Deferred tax liability on earnings previously considered to be indefinitely reinvested	5,700
Earnings of foreign subsidiaries previously considered to be permanently reinvested	16,400
Income taxes paid	4,900	5,200	10,700
Cash received for refunds of income taxes	100	1,400	300
PDMC [Member]
Income taxes, additional disclosures [Abstract]
One-time remittance in conjunction with acquisition		35,000
Federal research and development [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryfoward amount	$ 4,337
Federal research and development [Member] | Minimum [Member]
Tax Credit Carryforward [Line Items]
Expiration period	Oct. 31, 2019
Federal research and development [Member] | Maximum [Member]
Tax Credit Carryforward [Line Items]
Expiration period	Oct. 31, 2035
Federal alternate minimum tax [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryfoward amount	$ 3,281
State tax [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryfoward amount	$ 6,879
State tax [Member] | Minimum [Member]
Tax Credit Carryforward [Line Items]
Expiration period	Oct. 31, 2016
State tax [Member] | Maximum [Member]
Tax Credit Carryforward [Line Items]
Expiration period	Oct. 31, 2029
Domestic Tax Authority [Member]
Operating Loss Carryforward [Abstract]
Operating Loss Carryforwards	$ 120,263
Domestic Tax Authority [Member] | Minimum [Member]
Operating Loss Carryforward [Abstract]
Expiration Period	Oct. 31, 2023
Domestic Tax Authority [Member] | Maximum [Member]
Operating Loss Carryforward [Abstract]
Expiration Period	Oct. 31, 2035
Foreign Tax Authority [Member]
Operating Loss Carryforward [Abstract]
Operating Loss Carryforwards	$ 35,464
Foreign Tax Authority [Member] | Minimum [Member]
Operating Loss Carryforward [Abstract]
Expiration Period	Oct. 31, 2016
Foreign Tax Authority [Member] | Maximum [Member]
Operating Loss Carryforward [Abstract]
Expiration Period	Oct. 31, 2023
Foreign Tax Authority [Member] | DPTT Acquisition [Member]
Operating Loss Carryforward [Abstract]
Operating Loss Carryforwards	$ 3,500	58,600
Foreign Tax Authority [Member] | PDMC [Member]
Income taxes, additional disclosures [Abstract]
Dollar effect of income tax holiday	$ 200
Per share effect of income tax holiday (dollars per share)	$ 0
Income tax holiday commencement date	Jan. 1, 2015
Income tax holiday termination date	October 31, 2019
Foreign Tax Authority [Member] | PKLT [Member]
Income taxes, additional disclosures [Abstract]
Dollar effect of income tax holiday	$ 0	$ 0	$ 0
Per share effect of income tax holiday (dollars per share)	$ 0
Income tax holiday commencement date	Jan. 1, 2012
Income tax holiday termination date	October 31, 2017
State tax [Member]
Operating Loss Carryforward [Abstract]
Operating Loss Carryforwards	$ 214,591
State tax [Member] | Minimum [Member]
Operating Loss Carryforward [Abstract]
Expiration Period	Oct. 31, 2016
State tax [Member] | Maximum [Member]
Operating Loss Carryforward [Abstract]
Expiration Period	Oct. 31, 2035
Two foreign jurisdictions [Member]
Valuation Allowance [Abstract]
Valuation allowance increase (decrease)	$ 2,400

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended												12 Months Ended
	Jan. 31, 2016	Nov. 01, 2015	Aug. 02, 2015	May. 03, 2015	Feb. 01, 2015	[1]	Nov. 02, 2014	Aug. 03, 2014	May. 04, 2014	[2],[3]	Feb. 02, 2014	[4]	Nov. 01, 2015		Nov. 02, 2014		Nov. 03, 2013
Calculation of basic and diluted earnings per share [Abstract]
Net income attributable to Photronics, Inc. shareholders		$ 18,622	$ 12,106	$ 10,060	$ 3,837		$ 4,277	$ 4,186	$ 15,540		$ 1,993		$ 44,625	[1]	$ 25,996	[3],[5]	$ 17,966
Effect of dilutive securities [Abstract]
Interest expense on convertible notes, net of related tax effects													4,363		1,426		0
Earnings for diluted earnings per share													$ 48,988		$ 27,422		$ 17,966
Weighted-average common shares computations [Abstract]
Weighted-average common shares used for basic earnings per share (in shares)													66,331		61,779		60,644
Effect of dilutive securities [Abstract]
Convertible notes (in shares)													11,085		3,945		0
Share-based payment awards (in shares)													967		955		813
Common stock warrants (in shares)													0		0		142
Dilutive common shares (in shares)													12,052		4,900		955
Weighted-average common shares used for diluted earnings per share (in shares)													78,383		66,679		61,599
Basic earnings per share (in dollars per share)		$ 0.28	$ 0.18	$ 0.15	$ 0.06		$ 0.07	$ 0.07	$ 0.25		$ 0.03		$ 0.67	[1]	$ 0.42	[3],[5]	$ 0.30
Diluted earnings per share (in dollars per share)		$ 0.25	$ 0.17	$ 0.14	$ 0.06		$ 0.07	$ 0.07	$ 0.22		$ 0.03		$ 0.63	[1]	$ 0.41	[3],[5]	$ 0.29
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares excluded (in shares)													1,641		12,996		9,048
Subsequent Event [Member]
Subsequent Event [Line Items]
Share-based payment awards issued after fiscal year 2015 (in shares)	700
Share-based Payment Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares excluded (in shares)													1,641		1,911		2,880
Convertible Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares excluded (in shares)													0		11,085		6,168
[1]	Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.
[2]	Includes expenses of $2.0 million, net of tax, related to the acquisition of DPTT.
[3]	Includes non-cash gain of $16.4 million, net of tax, related to the acquisition of DPTT.
[4]	Includes expenses of $0.5 million, net of tax, related to the acquisition of DPTT.
[5]	Includes expenses of $2.5 million, net of tax, related to the acquisition of DPTT.

SUBSIDIARY SHARE REPURCHASES 67

SUBSIDIARY SHARE REPURCHASES AND TENDER OFFER (Details) - USD ($) $ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Jun. 30, 2015

Jan. 31, 2014

Nov. 01, 2015

Aug. 02, 2015

May. 03, 2015

Feb. 01, 2015

[1]

Nov. 02, 2014

Aug. 03, 2014

May. 04, 2014

[2],[3]

Feb. 02, 2014

[4]

Jan. 27, 2013

Nov. 01, 2015

Nov. 02, 2014

Nov. 03, 2013

Oct. 28, 2012

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Payment to minority shareholders

$ 0

$ 0

$ 32,374

Effect of the change in the entity's ownership interest in PSMC [Abstract]

Net income attributable to Photronics, Inc. shareholders

$ 18,622

$ 12,106

$ 10,060

$ 3,837

$ 4,277

$ 4,186

$ 15,540

$ 1,993

44,625

[1]

25,996

[3],[5]

17,966

Increase (decrease) in Photronics, Inc.'s additional paid-in capital and accumulated other comprehensive income

(11)

Change from net income attributable to Photronics, Inc. shareholders due to issuance of shares of PDMC and transfers to or from noncontrolling interests

44,653

20,212

18,329

Additional Paid-in Capital [Member]

Effect of the change in the entity's ownership interest in PSMC [Abstract]

Increase (decrease) in Photronics, Inc.'s additional paid-in capital and accumulated other comprehensive income

28

(6,183)

600

Accumulated Other Comprehensive Income (Loss) [Member]

Effect of the change in the entity's ownership interest in PSMC [Abstract]

Increase (decrease) in Photronics, Inc.'s additional paid-in capital and accumulated other comprehensive income

$ 0

$ 399

$ (237)

PKL [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Ownership percentage in subsidiary

99.77%

99.75%

Payment to minority shareholders

$ 100

PSMC [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Ownership percentage in subsidiary

100.00%

75.11%

98.63%

72.09%

Payment to minority shareholders

$ 1,700

$ 4,200

$ 28,100

[1]

Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.

[2]

Includes expenses of $2.0 million, net of tax, related to the acquisition of DPTT.

[3]

Includes non-cash gain of $16.4 million, net of tax, related to the acquisition of DPTT.

[4]

Includes expenses of $0.5 million, net of tax, related to the acquisition of DPTT.

[5]

Includes expenses of $2.5 million, net of tax, related to the acquisition of DPTT.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Nov. 01, 2015USD ($)
COMMITMENTS AND CONTINGENCIES [Abstract]
Outstanding commitments for capital expenditure	$ 3
Recorded purchase commitments	26
Total unrecorded purchase commitments	$ 14

GEOGRAPHIC AND SIGNIFICANT CU69

GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended											12 Months Ended
	Nov. 01, 2015	Aug. 02, 2015	May. 03, 2015	Feb. 01, 2015	[1]	Nov. 02, 2014	Aug. 03, 2014	May. 04, 2014	[2],[3]	Feb. 02, 2014	[4]	Nov. 01, 2015		Nov. 02, 2014		Nov. 03, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 141,693	$ 131,699	$ 127,309	$ 123,505		$ 124,251	$ 124,852	$ 104,882		$ 101,542		$ 524,206	[1]	$ 455,527	[3],[5]	$ 422,180
Long-lived assets	547,284					550,069						547,284		550,069		422,740
IC [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales												420,833		352,679		320,579
FPD [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales												103,373		102,848		101,601
Taiwan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales												205,141		167,075		117,364
Long-lived assets	185,087					207,324						185,087		207,324		66,836
Korea [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales												147,921		140,386		134,300
Long-lived assets	167,618					176,141						167,618		176,141		153,878
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales												132,792		106,740		127,054
Long-lived assets	184,282					158,325						184,282		158,325		191,518
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales												35,792		38,726		41,126
Long-lived assets	10,287					8,259						10,287		8,259		10,471
All Other Asia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales												2,560		2,600		2,336
Long-lived assets	$ 10					$ 20						$ 10		$ 20		$ 37
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | One Customer Accounted [Member]
Concentration Risk [Line Items]
Percent of net sales accounted for by significant customer												18.00%		16.00%		18.00%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Other Customer Accounted [Member]
Concentration Risk [Line Items]
Percent of net sales accounted for by significant customer												15.00%		11.00%
[1]	Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.
[2]	Includes expenses of $2.0 million, net of tax, related to the acquisition of DPTT.
[3]	Includes non-cash gain of $16.4 million, net of tax, related to the acquisition of DPTT.
[4]	Includes expenses of $0.5 million, net of tax, related to the acquisition of DPTT.
[5]	Includes expenses of $2.5 million, net of tax, related to the acquisition of DPTT.

CHANGES IN ACCUMULATED OTHER 70

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME BY COMPONENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 03, 2013
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME BY COMPONENT [Abstract]
Other comprehensive income, tax	$ 0	$ 0	$ 0
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	21,774	26,403
Other comprehensive income (loss) before reclassifications	(40,535)	(5,957)
Amounts reclassified from other accumulated comprehensive income	128	128
Net current period other comprehensive income (loss), net of tax	(40,407)	(5,829)	9,987
Less: other comprehensive loss attributable to noncontrolling interests	8,060	801
Other comprehensive income allocated to noncontrolling interests		410
Purchase of common stock of subsidiary		(11)
Ending Balance	(10,573)	21,774	26,403
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	22,651	27,797
Other comprehensive income (loss) before reclassifications	(40,154)	(5,916)
Amounts reclassified from other accumulated comprehensive income	0	0
Net current period other comprehensive income (loss), net of tax	(40,154)	(5,916)
Less: other comprehensive loss attributable to noncontrolling interests	7,869	770
Other comprehensive income allocated to noncontrolling interests		0
Purchase of common stock of subsidiary		0
Ending Balance	(9,634)	22,651	27,797
Amortization of Cash Flow Hedge [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(434)	(562)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from other accumulated comprehensive income	128	128
Net current period other comprehensive income (loss), net of tax	128	128
Less: other comprehensive loss attributable to noncontrolling interests	0	0
Other comprehensive income allocated to noncontrolling interests		0
Purchase of common stock of subsidiary		0
Ending Balance	(306)	(434)	(562)
Other [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(443)	(832)
Other comprehensive income (loss) before reclassifications	(381)	(41)
Amounts reclassified from other accumulated comprehensive income	0	0
Net current period other comprehensive income (loss), net of tax	(381)	(41)
Less: other comprehensive loss attributable to noncontrolling interests	191	31
Other comprehensive income allocated to noncontrolling interests		410
Purchase of common stock of subsidiary		(11)
Ending Balance	$ (633)	$ (443)	$ (832)

OTHER RELATED PARTY TRANSACTI71

OTHER RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 03, 2013
Information Technology Services Provider [Member]
Related Party Transaction [Line Items]
Expenses incurred for goods or services provided by related party during the period	$ 1	$ 1.2	$ 1.7
Amount due currently to related party at end of period	0.1	0.1
Amount of future services contracted for with related party	$ 0.2
End date of period contracted for services with related party	Jun. 30, 2016
Photomask Blank Supplier [Member]
Related Party Transaction [Line Items]
Expenses incurred for goods or services provided by related party during the period	$ 20.2	20.1	$ 20
Amount due currently to related party at end of period	$ 4.5	$ 4.4

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Nov. 01, 2015	Nov. 02, 2014
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 0	$ 0
Total liabilities	0	0
Fair Value [Member] | 3.25% convertible senior notes due 2016 [Member]
Fair and carrying values of the Company's convertible senior notes [Abstract]
Convertible senior notes	60,375	122,544
Fair Value [Member] | 3.25% convertible senior notes due 2019 [Member]
Fair and carrying values of the Company's convertible senior notes [Abstract]
Convertible senior notes	64,550	0
Carrying Value [Member] | 3.25% convertible senior notes due 2016 [Member]
Fair and carrying values of the Company's convertible senior notes [Abstract]
Convertible senior notes	57,500	115,000
Carrying Value [Member] | 3.25% convertible senior notes due 2019 [Member]
Fair and carrying values of the Company's convertible senior notes [Abstract]
Convertible senior notes	$ 57,500	$ 0

QUARTERLY RESULTS OF OPERATIO73

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended											12 Months Ended
	Nov. 01, 2015	Aug. 02, 2015	May. 03, 2015	Feb. 01, 2015		Nov. 02, 2014	Aug. 03, 2014	May. 04, 2014		Feb. 02, 2014		Nov. 01, 2015		Nov. 02, 2014		Nov. 03, 2013
Selected Quarterly Financial Data (Unaudited) [Abstract]
Revenues	$ 141,693	$ 131,699	$ 127,309	$ 123,505	[1]	$ 124,251	$ 124,852	$ 104,882	[2],[3]	$ 101,542	[4]	$ 524,206	[1]	$ 455,527	[3],[5]	$ 422,180
Gross margin	44,614	37,243	33,095	28,184	[1]	26,624	28,650	22,190	[2],[3]	22,882	[4]	143,136	[1]	100,346	[3],[5]
Net income	22,151	15,410	12,156	7,142	[1]	6,700	7,344	15,950	[2],[3]	2,041	[4]	56,859	[1]	32,035	[3],[5]	19,576
Net income attributable to Photronics, Inc. shareholders	$ 18,622	$ 12,106	$ 10,060	$ 3,837	[1]	$ 4,277	$ 4,186	$ 15,540	[2],[3]	$ 1,993	[4]	$ 44,625	[1]	$ 25,996	[3],[5]	$ 17,966
Earnings per share [Abstract]
Basic (in dollars per share)	$ 0.28	$ 0.18	$ 0.15	$ 0.06	[1]	$ 0.07	$ 0.07	$ 0.25	[2],[3]	$ 0.03	[4]	$ 0.67	[1]	$ 0.42	[3],[5]	$ 0.30
Diluted (in dollars per share)	$ 0.25	$ 0.17	$ 0.14	$ 0.06	[1]	$ 0.07	$ 0.07	$ 0.22	[2],[3]	$ 0.03	[4]	$ 0.63	[1]	$ 0.41	[3],[5]	$ 0.29
Transaction expenses, net of tax						$ 2,500		$ 2,000		$ 500				$ 2,500
Non cash gain related to acquisition, net of tax								$ 16,400				$ 0		$ 16,372		$ 0
Debt Instrument [Line Items]
Financing expenses				$ 900								$ 900
[1]	Includes expenses of $0.9 million of financing expenses related to the exchange of $57.5 million 3.25% convertible senior notes.
[2]	Includes expenses of $2.0 million, net of tax, related to the acquisition of DPTT.
[3]	Includes non-cash gain of $16.4 million, net of tax, related to the acquisition of DPTT.
[4]	Includes expenses of $0.5 million, net of tax, related to the acquisition of DPTT.
[5]	Includes expenses of $2.5 million, net of tax, related to the acquisition of DPTT.

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - Subsequent Event [Member] $ in Millions	Dec. 27, 2015USD ($)
Subsequent Event [Line Items]
Proceeds from sale of investments	$ 8.8
Gain on sale of investments	$ 8.5

Schedule II-Valuation and Qua75

Schedule II-Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 01, 2015		Nov. 02, 2014		Nov. 03, 2013
Allowance for Doubtful Accounts [Member]
Movement in Valuation Allowance and Qualifying Accounts [Roll Forward]
Balance at Beginning of Year		$ 3,078		$ 3,541		$ 3,902
Charged to Costs and Expenses		730		(740)		(398)
Deductions	[1]	(507)		277		37
Balance at End of Year		3,301		3,078		3,541
Deferred Tax Asset Valuation Allowance [Member]
Movement in Valuation Allowance and Qualifying Accounts [Roll Forward]
Balance at Beginning of Year		49,548		56,661		55,536
Charged to Costs and Expenses		(2,364)	[2]	0		1,125
Deductions		(8,421)	[3]	(7,113)	[3]	0
Balance at End of Year		$ 38,763		$ 49,548		$ 56,661
[1]	Uncollectible accounts written off and impact of foreign currency translation.
[2]	Partial reversal of valuation allowance
[3]	Increase in deferred tax liability and utilization of net operating losses.