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EARNINGS PER SHARE | 9 Months Ended
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Aug. 01, 2021
EARNINGS PER SHARE [Abstract] |
EARNINGS PER SHARE | NOTE 11 - EARNINGS PER SHARE The calculation of basic and diluted earnings per share is presented below.
|  | Three Months Ended |  |  | Nine Months Ended |
|  | August 1, 2021 |  |  | August 2, 2020 |  |  | August 1, 2021 |  |  | August 2, 2020 |
Net income attributable to Photronics, Inc. shareholders |  | $ | 17,076 |  |  | $ | 10,776 |  |  | $ | 35,638 |  |  | $ | 27,360 |
Effect of dilutive securities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Earnings used for diluted earnings per share |  | $ | 17,076 |  |  | $ | 10,776 |  |  | $ | 35,638 |  |  | $ | 27,360 |
Weighted-average common shares computations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares used for basic earnings per share |  |  | 60,884 |  |  |  | 64,780 |  |  |  | 61,804 |  |  |  | 65,090 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based payment awards |  |  | 631 |  |  |  | 467 |  |  |  | 558 |  |  |  | 614 |
Potentially dilutive common shares |  |  | 631 |  |  |  | 467 |  |  |  | 558 |  |  |  | 614 |
Weighted-average common shares used for diluted earnings per share |  |  | 61,515 |  |  |  | 65,247 |  |  |  | 62,362 |  |  |  | 65,704 |
Basic earnings per share |  | $ | 0.28 |  |  | $ | 0.17 |  |  | $ | 0.58 |  |  | $ | 0.42 |
Diluted earnings per share |  | $ | 0.28 |  |  | $ | 0.17 |  |  | $ | 0.57 |  |  | $ | 0.42 |
The table below illustrates the outstanding weighted-average share-based payment awards that were excluded from the calculation of diluted earnings per share because their exercise prices 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 antidilutive.
|  | Three Months Ended |  |  | Nine Months Ended |
|  | August 1, 2021 |  |  | August 2, 2020 |  |  | August 1, 2021 |  |  | August 2, 2020 |
Share-based payment awards |  |  | 206 |  |  |  | 985 |  |  |  | 442 |  |  |  | 723 |
Total potentially dilutive shares excluded |  |  | 206 |  |  |  | 985 |  |  |  | 442 |  |  |  | 723 |
Subsequent to August 1, 2021, our outstanding common stock was reduced by a net 0.6 million shares, primarily as a result of share repurchases. Please refer to Note 14 for information on our share repurchase programs.

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