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						Nine Months Ended
	July 30,		April 30,		July 31,		July 30,		July 31,
	2017		2017		2016		2017		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	$	4,001	$	1,797	$	8,088	$	7,745	$	40,944
Income tax benefit (a)		-		-		-		-		(3,004	)
Gain on sale of investment, net of tax (b)		-		-		-		-		(8,753	)
Non-GAAP net income attributable to Photronics, Inc. shareholders	$	4,001	$	1,797	$	8,088	$	7,745	$	29,187
Weighted average number of diluted shares outstanding
GAAP		69,380		69,385		74,317		69,311		76,990
Non-GAAP		69,380		69,385		74,317		69,311		76,990
Net income per diluted share
GAAP	$	0.06	$	0.03	$	0.12	$	0.11	$	0.56
Non-GAAP	$	0.06	$	0.03	$	0.12	$	0.11	$	0.41
Reconciliation of GAAP Net Income to Non-GAAP EBITDA
GAAP Net Income (c)	$	4,799	$	1,484	$	11,453	$	10,793	$	49,106
Interest expense		550		550		612		1,658		2,750
Income tax expense		333		431		4,762		2,814		6,136
Depreciation and amortization		21,840		21,345		19,572		64,081		60,102
Other items (d)		984		921		975		2,842		2,848
Non-GAAP EBITDA	$	28,506	$	24,731	$	37,374	$	82,188	$	120,942

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