EX-99.7 8 exhibit99-7.htm RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME

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

		Three Months Ended												Nine Months Ended
		August 3,						July 28,						August 3,						July 28,
		2014						2013						2014						2013
		$			%			$			%			$			%			$			%
GAAP Operating Income		$	11,057		8.9	%		$	10,025		9.1	%		$	19,519		5.9	%		$	23,299		7.4	%
(a) Acquisition transaction expenses			—		—				—		—				2,455		0.7				—		—
Non-GAAP Operating Income		$	11,057		8.9	%		$	10,025		9.1	%		$	21,974		6.6	%		$	23,299		7.4	%

(a)      Represents transaction expenses in connection with the acquisition of DNP Photomask Technology Taiwan Co., Ltd., a wholly-owned subsidiary of Dai Nippon Printing Co., Ltd.