PHOTRONICS INC - FORM 8-K - EX-99.6 - RECONCILIATION OF GAAP NET INCOME TO EBITDA - February 16, 2012

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8-K - CURRENT REPORT - PHOTRONICS INCphotronics_8k.htm
EX-99.1 - PRESS RELEASE DATED FEBRUARY 15, 2012 - PHOTRONICS INCexhibit99-1.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-99.2 - CONDENSED CONSOLIDATED STATEMENTS OF INCOME - PHOTRONICS INCexhibit99-2.htm
EX-99.4 - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - PHOTRONICS INCexhibit99-4.htm

PHOTRONICS, INC. AND SUBSIDIARIES
Non-GAAP Financial Measure
Reconciliation of GAAP Net income to EBITDA
(in thousands)
(Unaudited)

Three Months Ended
January 29, January 30,
2012 2011
GAAP Net income (a)       $      4,841       $      13,584
 
Add: interest expense 1,781 1,711
Add: income tax expense   3,321   3,483
Add: depreciation and amortization   22,295   22,808
Add (less): special items (b) 794 553
EBITDA $ 33,032 $ 42,139

(a)       Includes net income attributable to noncontrolling interests.
 
(b) Special items consist of non-cash consolidation and restructuring charges, warrants expense (income), and stock compensation expense.

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