PHOTRONICS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(in thousands, except per share amounts)
(Unaudited)
Three Months Ended | ||||||||
January 31, | February 1, | |||||||
2016 | 2015 | |||||||
Net sales | $ | 129,956 | $ | 123,505 | ||||
Costs and expenses: | ||||||||
Cost of sales | (94,520 | ) | (95,321 | ) | ||||
Selling, general and administrative | (12,198 | ) | (11,944 | ) | ||||
Research and development | (5,700 | ) | (4,681 | ) | ||||
Operating income | 17,538 | 11,559 | ||||||
Gain on sale of investment | 8,785 | - | ||||||
Other income (expense), net | 878 | (1,283 | ) | |||||
Income before income taxes | 27,201 | 10,276 | ||||||
Income tax provision | (3,700 | ) | (3,134 | ) | ||||
Net income | 23,501 | 7,142 | ||||||
Net income attributable to noncontrolling interests | (2,499 | ) | (3,305 | ) | ||||
Net income attributable to Photronics, Inc. shareholders | $ | 21,002 | $ | 3,837 | ||||
Earnings per share: | ||||||||
Basic | $ | 0.31 | $ | 0.06 | ||||
Diluted | $ | 0.28 | $ | 0.06 | ||||
Weighted-average number of common shares outstanding: | ||||||||
Basic | 66,807 | 66,066 | ||||||
Diluted | 79,136 | 67,020 |