PHOTRONICS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(in thousands, except per share amounts)
(Unaudited)
| Three Months Ended | |||||||
| February 2, | January 27, | ||||||
| 2014 | 2013 | ||||||
| Net sales | $ | 101,542 | $ | 99,839 | |||
| Costs and expenses: | |||||||
| Cost of sales | (78,660 | ) | (78,741 | ) | |||
| Selling, general and administrative | (12,278 | ) | (11,067 | ) | |||
| Research and development | (4,974 | ) | (4,839 | ) | |||
| Operating income | 5,630 | 5,192 | |||||
| Other expense, net | (873 | ) | (591 | ) | |||
| Income before income taxes | 4,757 | 4,601 | |||||
| Income tax provision | (2,716 | ) | (1,742 | ) | |||
| Net income | 2,041 | 2,859 | |||||
| Net income attributable to noncontrolling interests | (48 | ) | (536 | ) | |||
| Net income attributable to Photronics, Inc. shareholders | $ | 1,993 | $ | 2,323 | |||
| Earnings per share: | |||||||
| Basic | $ | 0.03 | $ | 0.04 | |||
| Diluted | $ | 0.03 | $ | 0.04 | |||
| Weighted-average number of common shares outstanding: | |||||||
| Basic | 61,200 | 60,277 | |||||
| Diluted | 62,136 | 61,095 | |||||