PHOTRONICS INC - FORM 8-K - EX-99.7 - RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME - May 20, 2015

Attached files

file	filename
8-K - CURRENT REPORT - PHOTRONICS INC	photronics_8k.htm
EX-99.1 - PRESS RELEASE DATED MAY 18, 2015 - PHOTRONICS INC	exhibit99-1.htm
EX-99.2 - CONDENSED CONSOLIDATED STATEMENTS OF INCOME - PHOTRONICS INC	exhibit99-2.htm
EX-99.4 - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - PHOTRONICS INC	exhibit99-4.htm
EX-99.5 - RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION - PHOTRONICS INC	exhibit99-5.htm
EX-99.3 - CONDENSED CONSOLIDATED BALANCE SHEETS - PHOTRONICS INC	exhibit99-3.htm
EX-99.6 - RECONCILIATION OF GAAP NET INCOME TO EBITDA - PHOTRONICS INC	exhibit99-6.htm

PHOTRONICS, INC. AND SUBSIDIARIES
Non-GAAP Financial Measure
Reconciliation of GAAP Operating Income to Non-GAAP Operating Income
(in thousands)
(Unaudited)

		Three Months Ended												Six Months Ended
		May 3,						May 4,						May 3,						May 4,
		2015						2014						2015						2014
		$			%			$			%			$			%			$			%
					(a)						(a)						(a)						(a)
GAAP Operating Income		$	14,865		11.7	%		$	2,832		2.7	%		$	26,424		10.5	%		$	8,462		4.1	%
Acquisition transaction expenses (b)			—		—				2,018		1.9				—		—				2,455		1.2

Non-GAAP Operating Income		$	14,865		11.7	%		$	4,850		4.6	%		$	26,424		10.5	%		$	10,917		5.3	%

(a)	Represents percentage of net sales

(b)	Represents transaction expenses in connection with the acquisition of DNP Photomask Technology Taiwan Co., Ltd., a wholly-owned subsidiary of Dai Nippon Printing Co., Ltd.