PHOTRONICS, INC. AND
SUBSIDIARIES
Condensed Consolidated Statements of
Income
(in thousands,
except per share amounts)
(Unaudited)
|
|
Three Months
Ended |
|
|
January 31, |
|
February 1, |
|
|
2016 |
|
2015 |
Net sales |
|
$ |
129,956 |
|
|
$ |
123,505 |
|
Costs and expenses: |
|
|
|
|
|
|
|
|
Cost of sales |
|
|
(94,520 |
) |
|
|
(95,321 |
) |
Selling, general and
administrative |
|
|
(12,198 |
) |
|
|
(11,944 |
) |
Research and
development |
|
|
(5,700 |
) |
|
|
(4,681 |
) |
Operating
income |
|
|
17,538 |
|
|
|
11,559 |
|
Gain on sale of investment |
|
|
8,785 |
|
|
|
- |
|
Other income (expense), net |
|
|
878 |
|
|
|
(1,283 |
) |
Income before income
taxes |
|
|
27,201 |
|
|
|
10,276 |
|
Income tax provision |
|
|
(3,700 |
) |
|
|
(3,134 |
) |
Net income |
|
|
23,501 |
|
|
|
7,142 |
|
Net
income attributable to noncontrolling interests |
|
|
(2,499 |
) |
|
|
(3,305 |
) |
Net income attributable to Photronics, Inc.
shareholders |
|
$ |
21,002 |
|
|
$ |
3,837 |
|
|
|
|
|
|
|
|
|
|
Earnings per share: |
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.31 |
|
|
$ |
0.06 |
|
Diluted |
|
$ |
0.28 |
|
|
$ |
0.06 |
|
Weighted-average number of common shares
outstanding: |
|
|
|
|
|
|
|
|
Basic |
|
|
66,807 |
|
|
|
66,066 |
|
Diluted |
|
|
79,136 |
|
|
|
67,020 |
|