EX-99.1 2 exhibit99-1.htm PRESENTATION APRIL 3, 2013

PHOTRONICS, INC. AND SUBSIDIARIES
Non-GAAP Financial Measure
Reconciliation of GAAP Net income to EBITDA
(in thousands)
(Unaudited)

|  | Three Months Ended
|  | January 27, |  | January 29,
|  | 2013 |  | 2012
GAAP Net income (a) |  | $ | 2,859 |  | $ | 4,841
Add: interest expense |  |  | 1,887 |  |  | 1,781
Add: income tax expense |  |  | 1,742 |  |  | 3,321
Add: depreciation and amortization |  |  | 18,783 |  |  | 22,295
Add (less): special items (b) |  |  | 886 |  |  | 794
EBITDA |  | $ | 26,157 |  | $ | 33,032

(a) |  | Includes net income attributable to noncontrolling interests.
(b) |  | Special items consist of stock compensation expense, and in 2012 non-cash consolidation and restructuring charges, and warrants income.