PHOTRONICS, INC. AND SUBSIDIARIES
Reconciliation of GAAP to Non-GAAP Financial Information
(in thousands, except per share data)
(Unaudited)
Three Months Ended | Nine Months Ended | ||||||||||||
July 28, | July 29, | July 28, | July 29, | ||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
Reconciliation of GAAP to Non-GAAP Net Income | |||||||||||||
Attributable to Photronics, Inc. Shareholders | |||||||||||||
GAAP net income attributable to Photronics, Inc. shareholders | $ | 5,940 | $ | 10,950 | $ | 13,126 | $ | 24,035 | |||||
(a)Consolidation and restructuring charges, net of tax | - | 7 | - | 1,182 | |||||||||
(b)Impact of warrants, net of tax | - | - | - | (94 | ) | ||||||||
Non-GAAP net income attributable to Photronics, Inc. shareholders | $ | 5,940 | $ | 10,957 | $ | 13,126 | $ | 25,123 | |||||
Reconciliation of GAAP to Non-GAAP Net Income | |||||||||||||
Applicable to Common Shareholders | |||||||||||||
Weighted average number of diluted shares outstanding | |||||||||||||
GAAP | 66,177 | 76,436 | 61,478 | 76,460 | |||||||||
Non-GAAP | 66,177 | 76,436 | 61,478 | 76,435 | |||||||||
Net income per diluted share | |||||||||||||
GAAP | $ | 0.10 | $ | 0.16 | $ | 0.21 | $ | 0.37 | |||||
Non-GAAP | $ | 0.10 | $ | 0.16 | $ | 0.21 | $ | 0.39 |
(a) | Represents consolidation and restructuring charges primarily related to restructuring in Singapore. |
(b) | Represents impact related to warrants, which is recorded in other expense, net. |