PHOTRONICS, INC. AND SUBSIDIARIES
Reconciliation of GAAP to Non-GAAP Financial Information
(in thousands, except per share data)
(Unaudited)
Three Months Ended | Year Ended | |||||||||||
November 2, | November 3, | November 2, | November 3, | |||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Reconciliation of GAAP to Non-GAAP Net Income | ||||||||||||
Attributable to Photronics, Inc. Shareholders | ||||||||||||
GAAP net income attributable to Photronics, Inc. shareholders | $ | 4,277 | $ | 4,840 | $ | 25,996 | $ | 17,966 | ||||
(a)Gain on acquisition, net of tax | - | - | (16,372 | ) | - | |||||||
(b)Acquisition transaction expenses, net of tax | - | 773 | 2,455 | 773 | ||||||||
Non-GAAP net income attributable to Photronics, Inc. shareholders | $ | 4,277 | $ | 5,613 | $ | 12,079 | $ | 18,739 | ||||
Reconciliation of GAAP to Non-GAAP Net Income | ||||||||||||
Applicable to Common Shareholders | ||||||||||||
Weighted average number of diluted shares outstanding | ||||||||||||
GAAP | 64,085 | 61,962 | 66,679 | 61,599 | ||||||||
Non-GAAP | 64,085 | 61,962 | 62,734 | 61,599 | ||||||||
Net income per diluted share | ||||||||||||
GAAP | $ | 0.07 | $ | 0.08 | $ | 0.41 | $ | 0.29 | ||||
Non-GAAP | $ | 0.07 | $ | 0.09 | $ | 0.19 | $ | 0.30 |
(a) | Represents gain on acquisition of DNP Photomask Technology Taiwan Co., Ltd (DPTT), a wholly-owned subsidiary of Dai Nippon Printing Co., Ltd | |
(b) | Represents transaction expenses in connection with the acquisition of DPTT. |