PHOTRONICS INC - FORM 8-K - EX-99.7 - RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME - August 19, 2015

Attached files

file	filename
EX-99.1 - PRESS RELEASE DATED AUGUST 18, 2015 - PHOTRONICS INC	exhibit99-1.htm
EX-99.5 - RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION - PHOTRONICS INC	exhibit99-5.htm
EX-99.6 - RECONCILIATION OF GAAP NET INCOME TO EBITDA - PHOTRONICS INC	exhibit99-6.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-99.3 - CONDENSED CONSOLIDATED BALANCE SHEETS - PHOTRONICS INC	exhibit99-3.htm
8-K - CURRENT REPORT - PHOTRONICS INC	photronics_8k.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												Nine Months Ended
		August 2,						August 3,						August 2,						August 3,
		2015						2014						2015						2014
		$			%			$			%			$			%			$			%
					(a)						(a)						(a)						(a)
GAAP Operating Income		$	18,560		14.1	%		$	11,057		8.9	%		$	44,984		11.8	%		$	19,519		5.9	%
Acquisition transaction expenses (b)			-		-				-		-				-		-				2,455		0.7

Non-GAAP Operating Income		$	18,560		14.1	%		$	11,057		8.9	%		$	44,984		11.8	%		$	21,974		6.6	%

(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.