PHOTRONICS, INC. AND SUBSIDIARIES
Non-GAAP Financial Measure
Reconciliation of GAAP Operating Income to Non-GAAP Operating Income
(in thousands)
(Unaudited)
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||
August 2, | August 3, | August 2, | August 3, | |||||||||||||||||||||
2015 | 2014 | 2015 | 2014 | |||||||||||||||||||||
$ | % | $ | % | $ | % | $ | % | |||||||||||||||||
(a) | (a) | (a) | (a) | |||||||||||||||||||||
GAAP Operating Income | $ | 18,560 | 14.1 | % | $ | 11,057 | 8.9 | % | $ | 44,984 | 11.8 | % | $ | 19,519 | 5.9 | % | ||||||||
Acquisition transaction expenses (b) | - | - | - | - | - | - | 2,455 | 0.7 | ||||||||||||||||
Non-GAAP Operating Income | $ | 18,560 | 14.1 | % | $ | 11,057 | 8.9 | % | $ | 44,984 | 11.8 | % | $ | 21,974 | 6.6 | % |
(a) | Represents percentage of net sales |
(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. |