XML 56 R38.htm IDEA: XBRL DOCUMENT
v3.3.1.900

ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD. (Tables) | 12 Months Ended
--- | ---
Nov. 01, 2015
ACQUISITION OF DNP PHOTOMASK TECHNOLOGY TAIWAN CO., LTD. [Abstract] |
Fair values of assets acquired and liabilities assumed | The following table summarizes the fair values of assets acquired and liabilities assumed of DPTT, the fair value of the noncontrolling interests and consideration for DPTT at the acquisition date.
Cash and cash equivalents |  | $ | 4,508 |
Accounts receivable (gross amount of $28,560, of which $500 is estimated to be uncollectable) |  |  | 28,060 |
Inventory |  |  | 1,279 |
Deferred tax asset |  |  | 9,787 |
Other current assets |  |  | 11,517 |
Property, plant and equipment |  |  | 95,431 |
Identifiable intangible assets |  |  | 1,552 |
Other long-term assets |  |  | 1,328 |
Accounts payable and accrued expenses |  |  | (32,410 | )
Deferred tax liability |  |  | (3,042 | )
Other long-term liabilities |  |  | (3,291 | )
Total net assets acquired |  |  | 114,719 |
Noncontrolling interests retained by DNP |  |  | 57,348 |
|  |  | 57,371 |
Consideration – 49.99% of fair value of PSMC |  |  | 40,999 |
Gain on acquisition |  | $ | 16,372 |
Pro forma information | The following unaudited pro forma financial information presents financial information as if the DPTT acquisition had occurred as of the beginning of fiscal year 2013. The pro forma earnings for fiscal years 2014 and 2013 were adjusted to exclude the above mentioned $2.5 million and $0.8 million non-recurring acquisition related costs and the gain on acquisition of $16.4 million. Other material non-recurring pro forma adjustments made to arrive at the below earnings amounts included the add back of additional depreciation recorded against DPTT long-lived assets of $6.6 million and $12.9 million for fiscal years 2014 and 2013, respectively. The pro forma information presented does not purport to represent results that would have been achieved had the merger occurred as of the beginning of the earliest period presented, or to be indicative of the Company’s future financial performance.
|  | Year Ended |
|  | November 2, 2014 |  |  | November 3, 2013 |
Revenues |  | $ | 499,968 |  |  | $ | 514,265 |
Net income |  | $ | 23,969 |  |  | $ | 34,922 |
Net income attributable to Photronics, Inc. shareholders |  | $ | 12,169 |  |  | $ | 21,902 |
Diluted earnings per share |  | $ | 0.19 |  |  | $ | 0.36 |

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration