PHOTRONICS INC - FORM 8-K - EX-99.6 - RECONCILIATION OF GAAP NET INCOME TO EBITDA - May 15, 2013

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8-K - CURRENT REPORT - PHOTRONICS INCphotronics_8k.htm
EX-99.4 - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - PHOTRONICS INCexhibit99-4.htm
EX-99.2 - CONDENSED CONSOLIDATED STATEMENTS OF INCOME - PHOTRONICS INCexhibit99-2.htm
EX-99.3 - CONDENSED CONSOLIDATED BALANCE SHEETS - PHOTRONICS INCexhibit99-3.htm
EX-99.1 - PRESS RELEASE DATED MAY 14, 2013 - PHOTRONICS INCexhibit99-1.htm
EX-99.5 - RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION - PHOTRONICS INCexhibit99-5.htm

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

Three Months Ended Six Months Ended
April 28, April 29, April 28, April 29,
       2013        2012        2013        2012
GAAP Net income (a) $       5,442 $       9,530 $       8,301 $       14,371
 
Add: interest expense 1,909 1,795 3,796 3,575
Add: income tax expense 1,724 2,663 3,466 5,984
Add: depreciation and amortization 17,959 21,089 36,742 43,384
Add (less): special items (b) 939 746 1,825 1,540
EBITDA $ 27,973 $ 35,823 $ 54,130 $ 68,854

(a)        Includes net income attributable to noncontrolling interests.
 
(b)   Special items consist of stock compensation expense, and in 2012 non-cash consolidation and restructuring charges and warrants expense (income).

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