EARNINGS PER SHARE

12 Months Ended

Oct. 31, 2024

NOTE 15 - EARNINGS PER SHARE

The calculation of basic and diluted earnings per share is presented below.

	Year Ended
	October 31,		October 31,		October 31,
(in thousands, except for per share data)	2024		2023		2022
Net income attributable to Photronics, Inc. shareholders	$	130,688	$	125,485	$	118,786
Effect of dilutive securities		-		-		-
Earnings used for diluted earnings per share	$	130,688	$	125,485	$	118,786

Weighted-average common shares outstanding:
Basic		61,726		61,139		60,559
Effect of dilutive securities:
Share-based payment awards		665		616		630
Potentially dilutive common shares		665		616		630

Weighted-average common shares-Diluted		62,391		61,755		61,189

Earnings per share:
Net Income attributable to Photronics shareholders - Basic	$	2.12	$	2.05	$	1.96
Net Income attributable to Photronics shareholders - Diluted	$	2.09	$	2.03	$	1.94

The table below sets forth 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 antidilutive.

	Year Ended
	October 31, 2024		October 31, 2023		October 31, 2022
Share based payment awards		371		136		314
Total potentially dilutive shares excluded		371		136		314