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 | ||||||