EX-99.5 6 exhibit99-5.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 2,			November 3,			November 2,				November 3,
	2014			2013			2014				2013
Reconciliation of GAAP to Non-GAAP Net Income
Attributable to Photronics, Inc. Shareholders
GAAP net income attributable to Photronics, Inc. shareholders	$	4,277		$	4,840		$	25,996			$	17,966
(a) Gain on acquisition, net of tax		-			-			(16,372	)			-
(b) Acquisition transaction expenses, net of tax		-			773			2,455				773
Non-GAAP net income attributable to Photronics, Inc. shareholders	$	4,277		$	5,613		$	12,079			$	18,739
Reconciliation of GAAP to Non-GAAP Net Income
Applicable to Common Shareholders
Weighted average number of diluted shares outstanding
GAAP		64,085			61,962			66,679				61,599
Non-GAAP		64,085			61,962			62,734				61,599
Net income per diluted share
GAAP	$	0.07		$	0.08		$	0.41			$	0.29
Non-GAAP	$	0.07		$	0.09		$	0.19			$	0.30

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