Photronics (PLAB) 8-K Entry into a Material Definitive Agreement

Exhibit 99.6

PHOTRONICS, INC. AND SUBSIDIARIES

Non-GAAP Financial Measures

Reconciliation of GAAP to Non-GAAP Financial Information

(in thousands, except per share data)

(Unaudited)

	Three Months Ended							Six Months Ended
	April 30, 2017		January 29, 2017		May 1, 2016			April 30, 2017		May 1, 2016
Reconciliation of GAAP to Non-GAAP Net Income
Attributable to Photronics, Inc. Shareholders and EPS data
GAAP net income attributable to Photronics, Inc. shareholders	$	1,797	$	1,946	$	11,854		$	3,743	$	32,856
Income tax expense/(benefit) (a)		-		-		(3,004	)		-		(3,004	)
Gain on sale of investment, net of tax  (b)		-		-		-			-		(8,753	)
Non-GAAP net income attributable to Photronics, Inc. shareholders	$	1,797	$	1,946	$	8,850		$	3,743	$	21,099
Weighted average number of diluted shares outstanding
GAAP		69,385		69,169		77,516			69,277		78,326
Non-GAAP		69,385		69,169		77,516			69,277		78,326
Net income per diluted share
GAAP	$	0.03	$	0.03	$	0.16		$	0.05	$	0.44
Non-GAAP	$	0.03	$	0.03	$	0.13		$	0.05	$	0.29
Reconciliation of GAAP  Net Income to Non-GAAP EBITDA
GAAP Net Income (c)	$	1,484	$	4,510	$	14,153		$	5,994	$	37,653
Interest expense		550		559		964			1,109		2,138
Income tax expense/(benefit)		431		2,050		(2,326	)		2,481		1,374
Depreciation and amortization		21,345		20,896		20,073			42,241		40,530
Other items (d)		921		937		976			1,858		1,873
Non-GAAP EBITDA	$	24,731	$	28,952	$	33,840		$	53,683	$	83,568

Notes:

(a) Represents tax benefit primarily related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary in Taiwan

(b) Represents gain on sale of investment in a foreign entity

(c) Includes net income attributable to noncontrolling interests, and in 2016 includes gain on sale of investment in a foreign entity

(d) Consists of stock compensation expense