Attached files
| file | filename |
|---|---|
| EX-99.1 - PRESS RELEASE DATED DECEMBER 2, 2015 - PHOTRONICS INC | exhibit99-1.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 |
| EX-99.3 - CONDENSED CONSOLIDATED BALANCE SHEETS - PHOTRONICS INC | exhibit99-3.htm |
| EX-99.5 - RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION - PHOTRONICS INC | exhibit99-5.htm |
| 8-K - CURRENT REPORT - PHOTRONICS INC | photronics_8k.htm |
PHOTRONICS, INC. AND
SUBSIDIARIES
Non-GAAP Financial Measure
Reconciliation of GAAP Net Income to Non-GAAP
EBITDA
(in thousands)
(Unaudited)
| Three Months Ended | Year Ended | ||||||||||||
| November 1, | November 2, | November 1, | November 2, | ||||||||||
| 2015 | 2014 | 2015 | 2014 | ||||||||||
| GAAP Net Income (a) | $ | 22,150 | $ | 6,699 | $ | 56,859 | $ | 32,035 | |||||
| Add: interest expense | 1,178 | 1,638 | 4,991 | 7,247 | |||||||||
| Add: income tax expense | 5,406 | 2,004 | 13,181 | 9,295 | |||||||||
| Add: depreciation and amortization | 20,777 | 21,421 | 81,653 | 78,685 | |||||||||
| Add (less): special items (b) | 905 | 941 | 4,590 | (9,846 | ) | ||||||||
| Non-GAAP EBITDA | $ | 50,416 | $ | 32,703 | $ | 161,274 | $ | 117,416 | |||||
| (a) | Includes net income attributable to noncontrolling interests. |
| (b) | Special items consist of stock compensation expense, and in 2015 financing expenses in connection with the exchange of $57.5 million of 3.25% convertible senior notes, and in 2014 noncash gain on acquisition of DNP Photomask Technology Taiwan, Co., Ltd., a wholly-owned subsidiary of Dai Nippon Printing Co., Ltd., and related acquisition transaction expenses. |