PHOTRONICS, INC. AND
SUBSIDIARIES
Condensed Consolidated Statements of
Income
(in thousands,
except per share amounts)
(Unaudited)
|
|
Three Months
Ended |
|
Nine Months
Ended |
|
|
August 2, |
|
August 3, |
|
August 2, |
|
August 3, |
|
|
2015 |
|
2014 |
|
2015 |
|
2014 |
| Net sales |
|
$ |
131,699 |
|
|
$ |
124,852 |
|
|
$ |
382,513 |
|
|
$ |
331,276 |
|
| Costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of sales |
|
|
(94,456 |
) |
|
|
(96,202 |
) |
|
|
(283,991 |
) |
|
|
(257,554 |
) |
| Selling, general and
administrative |
|
|
(12,430 |
) |
|
|
(12,394 |
) |
|
|
(36,795 |
) |
|
|
(38,092 |
) |
| Research and
development |
|
|
(6,253 |
) |
|
|
(5,199 |
) |
|
|
(16,743 |
) |
|
|
(16,111 |
) |
| Operating
income |
|
|
18,560 |
|
|
|
11,057 |
|
|
|
44,984 |
|
|
|
19,519 |
|
| Gain on acquisition |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
16,372 |
|
| Other income (expense), net |
|
|
240 |
|
|
|
(1,168 |
) |
|
|
(2,500 |
) |
|
|
(3,264 |
) |
| Income
before income taxes |
|
|
18,800 |
|
|
|
9,889 |
|
|
|
42,484 |
|
|
|
32,627 |
|
| Income tax provision |
|
|
(3,390 |
) |
|
|
(2,545 |
) |
|
|
(7,775 |
) |
|
|
(7,291 |
) |
| Net
income |
|
|
15,410 |
|
|
|
7,344 |
|
|
|
34,709 |
|
|
|
25,336 |
|
| Net
income attributable to noncontrolling interests |
|
|
(3,304 |
) |
|
|
(3,158 |
) |
|
|
(8,706 |
) |
|
|
(3,617 |
) |
| Net income attributable to Photronics, Inc.
shareholders |
|
$ |
12,106 |
|
|
$ |
4,186 |
|
|
$ |
26,003 |
|
|
$ |
21,719 |
|
| |
| Earnings per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
$ |
0.18 |
|
|
$ |
0.07 |
|
|
$ |
0.39 |
|
|
$ |
0.35 |
|
| Diluted |
|
$ |
0.17 |
|
|
$ |
0.07 |
|
|
$ |
0.37 |
|
|
$ |
0.34 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted-average number of common shares
outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
66,454 |
|
|
|
61,436 |
|
|
|
66,250 |
|
|
|
61,336 |
|
| Diluted |
|
|
78,569 |
|
|
|
62,432 |
|
|
|
78,300 |
|
|
|
77,706 |
|
