PHOTRONICS INC - FORM 8-K - EX-99.6 - RECONCILIATION OF GAAP NET INCOME TO EBITDA - August 15, 2012

Attached files

file	filename
8-K - CURRENT REPORT - PHOTRONICS INC	photronics_8k.htm
EX-99.5 - RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION - PHOTRONICS INC	exhibit99-5.htm
EX-99.1 - PRESS RELEASE DATED AUGUST 14, 2012 - PHOTRONICS INC	exhibit99-1.htm
EX-99.3 - CONDENSED CONSOLIDATED BALANCE SHEETS - PHOTRONICS INC	exhibit99-3.htm
EX-99.4 - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - PHOTRONICS INC	exhibit99-4.htm
EX-99.2 - CONDENSED CONSOLIDATED STATEMENTS OF INCOME - PHOTRONICS INC	exhibit99-2.htm

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

	Three Months Ended						Nine Months Ended
	July 29,			July 31,			July 29,			July 31,
	2012			2011			2012			2011
GAAP Net income (a)	$	11,267		$	12,622		$	25,638		$	11,173

Add: interest expense		2,012			1,907			5,587			5,499
Add: income tax expense		3,258			4,895			9,242			11,637
Add: depreciation and amortization		20,403			23,229			63,787			68,923
Add (less): special items (b)		878			5,479			2,418			37,671
EBITDA	$	37,818		$	48,132		$	106,672		$	134,903

(a)		Includes net income attributable to noncontrolling interests.

(b)		Special items consist of stock compensation expense, non-cash consolidation and restructuring charges, warrants expense (income), and in 2011 debt extinguishment loss and deferred financing fees write off.