PHOTRONICS, INC. AND SUBSIDIARIES
Reconciliation of GAAP to Non-GAAP Financial Information
(in thousands, except per share data)
(Unaudited)
Three Months Ended | |||||||
January 31, | February 1, | ||||||
2016 | 2015 | ||||||
Reconciliation of GAAP to Non-GAAP Net Income | |||||||
Attributable to Photronics, Inc. Shareholders | |||||||
GAAP net income attributable to Photronics, Inc. shareholders | $ | 21,002 | $ | 3,837 | |||
(a)Gain on sale of investment, net of tax | (8,753 | ) | - | ||||
(b)Financing expenses, net of tax | - | 901 | |||||
Non-GAAP net income attributable to Photronics, Inc. shareholders | $ | 12,249 | $ | 4,738 | |||
Reconciliation of GAAP to Non-GAAP Net Income | |||||||
Applicable to Common Shareholders | |||||||
Weighted average number of diluted shares outstanding | |||||||
GAAP | 79,136 | 67,020 | |||||
Non-GAAP | 79,136 | 67,020 | |||||
Net income per diluted share | |||||||
GAAP | $ | 0.28 | $ | 0.06 | |||
Non-GAAP | $ | 0.17 | $ | 0.07 |
(a) | Represents gain on sale of investment in a foreign entity |
(b) | Represents financing expenses related to the exchange of $57.5 million of 3.25% convertible senior notes |