PHOTRONICS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(in thousands, except per share amounts)
(Unaudited)
Three Months Ended | ||||||||
February 1, | February 2, | |||||||
2015 | 2014 | |||||||
Net sales | $ | 123,505 | $ | 101,542 | ||||
Costs and expenses: | ||||||||
Cost of sales | (95,321 | ) | (78,660 | ) | ||||
Selling, general and administrative | (11,944 | ) | (12,278 | ) | ||||
Research and development | (4,681 | ) | (4,974 | ) | ||||
Operating income | 11,559 | 5,630 | ||||||
Other expense, net | (1,283 | ) | (873 | ) | ||||
Income before income taxes | 10,276 | 4,757 | ||||||
Income tax provision | (3,134 | ) | (2,716 | ) | ||||
Net income | 7,142 | 2,041 | ||||||
Net income attributable to noncontrolling interests | (3,305 | ) | (48 | ) | ||||
Net income attributable to Photronics, Inc. shareholders | $ | 3,837 | $ | 1,993 | ||||
Earnings per share: | ||||||||
Basic | $ | 0.06 | $ | 0.03 | ||||
Diluted | $ | 0.06 | $ | 0.03 | ||||
Weighted-average number of common shares outstanding: | ||||||||
Basic | 66,066 | 61,200 | ||||||
Diluted | 67,020 | 62,136 |