PHOTRONICS, INC. AND SUBSIDIARIES
Reconciliation of GAAP to Non-GAAP Financial Information
(in thousands, except per share data)
(Unaudited)
| Three Months Ended | ||||||
| February 1, | February 2, | |||||
| 2015 | 2014 | |||||
| Reconciliation of GAAP to Non-GAAP Net Income | ||||||
| Attributable to Photronics, Inc. Shareholders | ||||||
| GAAP net income attributable to Photronics, Inc. shareholders | $ | 3,837 | $ | 1,993 | ||
| (a)Financing expenses, net of tax | 901 | - | ||||
| (b)Acquisition transaction expenses, net of tax | - | 437 | ||||
| Non-GAAP net income attributable to Photronics, Inc. shareholders | $ | 4,738 | $ | 2,430 | ||
| Reconciliation of GAAP to Non-GAAP Net Income | ||||||
| Applicable to Common Shareholders | ||||||
| Weighted average number of diluted shares outstanding | ||||||
| GAAP | 67,020 | 62,136 | ||||
| Non-GAAP | 67,020 | 62,136 | ||||
| Net income per diluted share | ||||||
| GAAP | $ | 0.06 | $ | 0.03 | ||
| Non-GAAP | $ | 0.07 | $ | 0.04 | ||
| (a) | Represents financing expenses related to the exchange of $57.5 million of 3.25% convertible senior notes, recorded in other expense, net |
| (b) | Represents transaction expenses in connection with the acquisition of DNP Photomask Technology Taiwan Co., Ltd., a wholly-owned subsidiary of Dai Nippon Printing Co., Ltd. |