PHOTRONICS INC - FORM 8-K - EX-99.2 - CONDENSED CONSOLIDATED STATEMENTS OF INCOME - February 16, 2012

Attached files

file filename
8-K - CURRENT REPORT - PHOTRONICS INCphotronics_8k.htm
EX-99.1 - PRESS RELEASE DATED FEBRUARY 15, 2012 - PHOTRONICS INCexhibit99-1.htm
EX-99.6 - RECONCILIATION OF GAAP NET INCOME TO EBITDA - PHOTRONICS INCexhibit99-6.htm
EX-99.3 - CONDENSED CONSOLIDATED BALANCE SHEETS - PHOTRONICS INCexhibit99-3.htm
EX-99.5 - RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION - PHOTRONICS INCexhibit99-5.htm
EX-99.4 - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - PHOTRONICS INCexhibit99-4.htm

PHOTRONICS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(in thousands, except per share amounts)
(Unaudited)

Three Months Ended
      January 29,       January 30,
2012 2011
Net sales $       112,154 $      120,823
 
Costs and expenses:
 
       Cost of sales (86,696 ) (90,229 )
 
       Selling, general and administrative (11,325 ) (10,713 )
 
       Research and development (4,444 ) (3,771 )
 
       Consolidation, restructuring and related charges (1,118 ) -
   
              Operating income 8,571 16,110
 
Other income (expense), net (409 ) 957
 
              Income before income taxes 8,162 17,067
 
Income tax provision (3,321 )   (3,483 )
       
              Net income 4,841 13,584
   
Net income attributable to noncontrolling interests (573 ) (1,473 )
 
Net income attributable to Photronics, Inc. $ 4,268 $ 12,111
 
Earnings per share:
              Basic $ 0.07 $ 0.23
 
              Diluted $ 0.07 $ 0.20
 
Weighted-average number of common shares
       outstanding:
              Basic 59,817 53,817
 
              Diluted 60,930 66,411

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