EX-99.6 7 exhibit99-6.htm RECONCILIATION OF GAAP NET INCOME TO EBITDA

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

		Three Months Ended							Six Months Ended
		May 4,				April 28,			May 4,				April 28,
		2014				2013			2014				2013
GAAP Net Income (a)		$	15,950			$	5,442		$	17,992			$	8,301
Add: interest expense			1,816				1,909			3,800				3,796
Add: income tax expense			2,032				1,724			4,747				3,466
Add: depreciation and amortization			18,550				17,959			35,972				36,742
Add (less): special items (b)			(13,310	)			939			(11,768	)			1,825
		$	25,038			$	27,973		$	50,743			$	54,130

(a)		Includes net income attributable to noncontrolling interests.
(b)		Special items consist of stock compensation expense, and in 2014 noncash gain on acquisition of DNP Photomask Technology Taiwan, Co., Ltd., a wholly-owned subsidiary of Dai Nippon Printing Co., Ltd., and related acquisition transaction expenses.