Photronics (PLAB) 8-K Results of Operations and Financial Condition

PHOTRONICS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(in thousands, except per share amounts)
(Unaudited)

	Three Months Ended
	January 29,			January 30,
	2012			2011
Net sales	$	112,154		$	120,823
Costs and expenses:
Cost of sales		(86,696	)		(90,229	)
Selling, general and administrative		(11,325	)		(10,713	)
Research and development		(4,444	)		(3,771	)
Consolidation, restructuring and related charges		(1,118	)		-
Operating income		8,571			16,110
Other income (expense), net		(409	)		957
Income before income taxes		8,162			17,067
Income tax provision		(3,321	)		(3,483	)
Net income		4,841			13,584
Net income attributable to noncontrolling interests		(573	)		(1,473	)
Net income attributable to Photronics, Inc.	$	4,268		$	12,111
Earnings per share:
Basic	$	0.07		$	0.23
Diluted	$	0.07		$	0.20
Weighted-average number of common shares
outstanding:
Basic		59,817			53,817
Diluted		60,930			66,411