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SUBSIDIARY SHARE REPURCHASE

9 Months Ended

Jul. 31, 2011

Subsidiary Share Repurchase [Abstract]

SUBSIDIARY SHARE REPURCHASE

NOTE 13 – SUBSIDIARY SHARE REPURCHASE

During the three month period ended May 1, 2011, the board of directors of Photronics Semiconductor Mask Corporation (PSMC), a subsidiary of the Company based in Taiwan, authorized PSMC to repurchase for retirement up to 5% of its outstanding common stock on the open market. The repurchase program, which expired in April 2011, resulted in approximately 7.7 million shares (or approximately 2.7 % of its outstanding shares) being repurchased at a total cost of $3.3 million. PSMC's repurchase of these shares increased the Company's ownership of PSMC from 57.53% at October 31, 2010, to 59.14% at May 1, 2011. The table below presents the effect of the change in Photronics, Inc.'s ownership interest in PSMC on the Company's equity for the nine month periods ended July 31, 2011 and August 1, 2010.

		Nine Months Ended
		July 31, 2011				August 1, 2010
Net income attributable to Photronics, Inc.		$	6,938			$	15,778
Decrease in Photronics, Inc.'s additional paid-in capital for PSMC's repurchase of 7.7 million shares of its common stock			(328	)			-
Change from net income attributable to Photronics, Inc. and transfer to noncontrolling interest		$	6,610			$	15,778

In August 2011, the board of directors of PSMC authorized PSMC to repurchase for retirement up to 5% of its outstanding common stock on the open market through October 14, 2011, should such stock become available for repurchase within a certain price per share range.

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The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6921930&loc=SL4573702-111684

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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