Attached files
| file | filename |
|---|---|
| EX-99.4 - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - PHOTRONICS INC | exhibit99-4.htm |
| EX-99.3 - CONDENSED CONSOLIDATED BALANCE SHEETS - PHOTRONICS INC | exhibit99-3.htm |
| EX-99.5 - RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION - PHOTRONICS INC | exhibit99-5.htm |
| 8-K - CURRENT REPORT - PHOTRONICS INC | photronics_8k.htm |
| EX-99.1 - PRESS RELEASE DATED MAY 16, 2011 - PHOTRONICS INC | exhibit99-1.htm |
PHOTRONICS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
(Unaudited)
(Unaudited)
| Three Months Ended | Six Months Ended | ||||||||||||||||
| May 1, | May 2, | May 1, | May 2, | ||||||||||||||
| 2011 | 2010 | 2011 | 2010 | ||||||||||||||
| Net sales | $ | 133,103 | $ | 105,070 | $ | 253,926 | $ | 203,267 | |||||||||
| Costs and expenses: | |||||||||||||||||
| Cost of sales | (96,617 | ) | (82,980 | ) | (186,845 | ) | (163,000 | ) | |||||||||
| Selling, general and administrative | (11,448 | ) | (10,870 | ) | (22,162 | ) | (21,018 | ) | |||||||||
| Research and development | (3,940 | ) | (3,601 | ) | (7,711 | ) | (7,556 | ) | |||||||||
| Consolidation, restructuring and related credits | - | 5,029 | - | 4,836 | |||||||||||||
| Operating income | 21,098 | 12,648 | 37,208 | 16,529 | |||||||||||||
| Debt extinguishment loss | (30,286 | ) | - | (30,286 | ) | - | |||||||||||
| Other expense, net | (2,585 | ) | (2,183 | ) | (1,629 | ) | (4,636 | ) | |||||||||
| (Loss) income before income taxes | (11,773 | ) | 10,465 | 5,293 | 11,893 | ||||||||||||
| Income tax provision | (3,260 | ) | (1,860 | ) | (6,742 | ) | (2,880 | ) | |||||||||
| Net (loss) income | (15,033 | ) | 8,605 | (1,449 | ) | 9,013 | |||||||||||
| Net income attributable to noncontrolling interests | (1,405 | ) | (732 | ) | (2,878 | ) | (927 | ) | |||||||||
| Net (loss) income attributable to Photronics, Inc. | $ | (16,438 | ) | $ | 7,873 | $ | (4,327 | ) | $ | 8,086 | |||||||
| Earnings (loss) per share: | |||||||||||||||||
| Basic | $ | (0.30 | ) | $ | 0.15 | $ | (0.08 | ) | $ | 0.15 | |||||||
| Diluted | $ | (0.30 | ) | $ | 0.14 | $ | (0.08 | ) | $ | 0.15 | |||||||
| Weighted average number of common shares | |||||||||||||||||
| outstanding: | |||||||||||||||||
| Basic | 55,685 | 53,405 | 54,751 | 53,253 | |||||||||||||
| Diluted | 55,685 | 65,780 | 54,751 | 54,291 | |||||||||||||