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EARNINGS PER SHARE | 9 Months Ended
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Jul. 30, 2017
EARNINGS PER SHARE [Abstract] |
EARNINGS PER SHARE | NOTE 9 - EARNINGS PER SHARE The calculation of basic and diluted earnings per share is presented below.
|  | Three Months Ended |  |  | Nine Months Ended |
|  | July 30, 2017 |  |  | July 31, 2016 |  |  | July 30, 2017 |  |  | July 31, 2016 |
Net income attributable to Photronics, Inc. shareholders |  | $ | 4,001 |  |  | $ | 8,088 |  |  | $ | 7,745 |  |  | $ | 40,944 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense on convertible notes, net of tax |  |  | - |  |  |  | 496 |  |  |  | - |  |  |  | 2,442 |
Earnings for diluted earnings per share |  | $ | 4,001 |  |  | $ | 8,584 |  |  | $ | 7,745 |  |  | $ | 43,386 |
Weighted-average common shares computations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares used for basic earnings per share |  |  | 68,525 |  |  |  | 67,953 |  |  |  | 68,376 |  |  |  | 67,377 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based payment awards |  |  | 855 |  |  |  | 822 |  |  |  | 935 |  |  |  | 1,006 |
Convertible notes |  |  | - |  |  |  | 5,542 |  |  |  | - |  |  |  | 8,607 |
Potentially dilutive common shares |  |  | 855 |  |  |  | 6,364 |  |  |  | 935 |  |  |  | 9,613 |
Weighted-average common shares used for diluted earnings per share |  |  | 69,380 |  |  |  | 74,317 |  |  |  | 69,311 |  |  |  | 76,990 |
Basic earnings per share |  | $ | 0.06 |  |  | $ | 0.12 |  |  | $ | 0.11 |  |  | $ | 0.61 |
Diluted earnings per share |  | $ | 0.06 |  |  | $ | 0.12 |  |  | $ | 0.11 |  |  | $ | 0.56 |
The table below shows the outstanding weighted-average share-based payment awards that were excluded from the calculation of diluted earnings per share because their exercise price exceeded the average market value of the common shares for the period or, under application of the treasury stock method, they were otherwise determined to be anti-dilutive. The table also shows convertible notes that, if converted, would have been anti-dilutive.
|  | Three Months Ended |  |  | Nine Months Ended |
|  | July 30, 2017 |  |  | July 31, 2016 |  |  | July 30, 2017 |  |  | July 31, 2016 |
Convertible notes |  |  | 5,542 |  |  |  | - |  |  |  | 5,542 |  |  |  | - |
Share-based payment awards |  |  | 1,087 |  |  |  | 2,016 |  |  |  | 1,054 |  |  |  | 1,615 |
Total potentially dilutive shares excluded |  |  | 6,629 |  |  |  | 2,016 |  |  |  | 6,596 |  |  |  | 1,615 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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