Attached files
| file | filename |
|---|---|
| 8-K - PHOTRONICS, INC. 8-K 8-18-2016 - PHOTRONICS INC | form8k.htm |
| EX-99.5 - EXHIBIT 99.5 - PHOTRONICS INC | ex99_5.htm |
| EX-99.4 - EXHIBIT 99.4 - PHOTRONICS INC | ex99_4.htm |
| EX-99.3 - EXHIBIT 99.3 - PHOTRONICS INC | ex99_3.htm |
| EX-99.2 - EXHIBIT 99.2 - PHOTRONICS INC | ex99_2.htm |
| EX-99.1 - EXHIBIT 99.1 - PHOTRONICS INC | ex99_1.htm |
Exhibit 99.6
PHOTRONICS, INC. AND SUBSIDIARIES
Non-GAAP Financial Measure
Reconciliation of GAAP Net Income to Non-GAAP EBITDA
(in thousands)
(Unaudited)
|
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
|
July 31,
2016
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August 2,
2015
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July 31,
2016
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August 2,
2015
|
|||||||||||||
|
GAAP Net Income (a)
|
$
|
11,453
|
$
|
15,410
|
$
|
49,106
|
$
|
34,709
|
||||||||
|
Add: interest expense
|
612
|
1,209
|
2,750
|
3,812
|
||||||||||||
|
Add: income tax expense
|
4,762
|
3,390
|
6,136
|
7,775
|
||||||||||||
|
Add: depreciation and amortization
|
19,572
|
20,976
|
60,102
|
60,876
|
||||||||||||
|
Add: special items (b)
|
975
|
947
|
2,848
|
3,685
|
||||||||||||
|
Non-GAAP EBITDA
|
$
|
37,374
|
$
|
41,932
|
$
|
120,942
|
$
|
110,857
|
||||||||
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(a)
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Includes net income attributable to noncontrolling interests, and in the nine months ended July 31, 2016 includes gain on sale of investment in a foreign entity
|
|
(b)
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Special items consist of stock compensation expense, and in the nine months ended August 2, 2015 includes financing expenses in connection with the exchange of $57.5 million of 3.25% convertible senior notes
|