EX-99.6 7 exhibit99-6.htm RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION

PHOTRONICS, INC. AND SUBSIDIARIES
Reconciliation of GAAP to Non-GAAP Financial Information
(in thousands, except per share data)
(Unaudited)

		Three Months Ended						Year Ended
		November 3,			October 28,			November 3,			October 28,
		2013			2012			2013			2012
Reconciliation of GAAP to Non-GAAP Net Income
Attributable to Photronics, Inc. Shareholders
GAAP net income attributable to Photronics, Inc. shareholders		$	4,840		$	3,833		$	17,966		$	27,868
(a) Joint venture transaction expenses, net of tax			773			-			773			-
(b) Consolidation and restructuring charges, net of tax			-			246			-			1,428
(c) Impact of warrants, net of tax			-			-			-			(94	)
Non-GAAP net income attributable to Photronics, Inc. shareholders		$	5,613		$	4,079		$	18,739		$	29,202
Reconciliation of GAAP to Non-GAAP Net Income
Applicable to Common Shareholders
Weighted average number of diluted shares outstanding
GAAP			61,962			61,052			61,599			76,464
Non-GAAP			61,962			61,052			61,599			76,445
Net income per diluted share
GAAP		$	0.08		$	0.06		$	0.29		$	0.44
Non-GAAP		$	0.09		$	0.07		$	0.30		$	0.46

(a)		Represents transaction expenses in connection with the joint venture with DNP Photomask Technology Taiwan Co., Ltd., a wholly-owned subsidiary of Dai Nippon Printing Co., Ltd.
(b)		Represents consolidation and restructuring charges primarily related to restructuring in Singapore.
(c)		Represents impact related to warrants, which is recorded in other expense, net.