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						Nine Months Ended
		August 3,			July 28,			August 3,				July 28,
		2014			2013			2014				2013
GAAP Net Income (a)		$	7,344		$	6,364		$	25,336			$	14,665
Add: interest expense			1,809			1,909			5,609				5,707
Add: income tax expense			2,545			2,689			7,291				6,155
Add: depreciation and amortization			21,292			17,212			57,264				53,954
Add (less): special items (b)			981			993			(10,787	)			2,818
		$	33,791		$	29,167		$	84,713			$	83,299

(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.