PHOTRONICS, INC. AND SUBSIDIARIES
Reconciliation of GAAP to Non-GAAP Financial Information
(in thousands, except per share data)
(Unaudited)
| Three Months Ended | |||||
| February 2, | January 27, | ||||
| 2014 | 2013 | ||||
| Reconciliation of GAAP to Non-GAAP Net Income | |||||
| Attributable to Photronics, Inc. Shareholders | |||||
| GAAP net income attributable to Photronics, Inc. shareholders | $ | 1,993 | $ | 2,323 | |
| (a)Joint venture transaction expenses, net of tax | 437 | — | |||
| Non-GAAP net income attributable to Photronics, Inc. shareholders | $ | 2,430 | $ | 2,323 | |
| Reconciliation of GAAP to Non-GAAP Net Income | |||||
| Applicable to Common Shareholders | |||||
| Weighted average number of diluted shares outstanding | |||||
| GAAP | 62,136 | 61,095 | |||
| Non-GAAP | 62,136 | 61,095 | |||
| Net income per diluted share | |||||
| GAAP | $ | 0.03 | $ | 0.04 | |
| Non-GAAP | $ | 0.04 | $ | 0.04 | |
(a) | Represents transaction expenses in connection with the pending joint venture with DNP Photomask Technology Taiwan Co., Ltd., a wholly-owned subsidiary of Dai Nippon Printing Co., Ltd. |