Attached files
| file | filename |
|---|---|
| EX-99.2 - EXHIBIT 99.2 - PHOTRONICS INC | ex99_2.htm |
| 8-K - PHOTRONICS, INC 8-K 2-15-2017 - PHOTRONICS INC | form8k.htm |
| EX-99.4 - EXHIBIT 99.4 - PHOTRONICS INC | ex99_4.htm |
| EX-99.3 - EXHIBIT 99.3 - PHOTRONICS INC | ex99_3.htm |
| EX-99.1 - EXHIBIT 99.1 - PHOTRONICS INC | ex99_1.htm |
Exhibit 99.5
PHOTRONICS, INC. AND SUBSIDIARIES
Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Information
(in thousands, except per share data)
(Unaudited)
|
Three Months Ended
|
||||||||||||
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January 29,
2017
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October 30,
2016
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January 31,
2016
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||||||||||
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Reconciliation of GAAP to Non-GAAP Net Income Attributable to Photronics, Inc. Shareholders and EPS data
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||||||||||||
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GAAP net income attributable to Photronics, Inc. shareholders
|
$
|
1,946
|
$
|
5,256
|
$
|
21,002
|
||||||
|
Income tax expense/(benefit) (a)
|
-
|
(1,834
|
)
|
-
|
||||||||
|
Gain on sale of investment, net of tax (b)
|
-
|
-
|
(8,753
|
)
|
||||||||
|
Non-GAAP net income attributable to Photronics, Inc. shareholders
|
$
|
1,946
|
$
|
3,422
|
$
|
12,249
|
||||||
|
Weighted average number of diluted shares outstanding
|
||||||||||||
|
GAAP
|
69,169
|
68,906
|
79,136
|
|||||||||
|
Non-GAAP
|
69,169
|
68,906
|
79,136
|
|||||||||
|
Net income per diluted share
|
||||||||||||
|
GAAP
|
$
|
0.03
|
$
|
0.08
|
$
|
0.28
|
||||||
|
Non-GAAP
|
$
|
0.03
|
$
|
0.05
|
$
|
0.17
|
||||||
|
Reconciliation of GAAP Net Income to Non-GAAP EBITDA
|
||||||||||||
|
GAAP Net Income (c)
|
$
|
4,510
|
$
|
6,569
|
$
|
23,501
|
||||||
|
Interest expense
|
559
|
616
|
1,174
|
|||||||||
|
Income tax expense/(benefit)
|
2,050
|
(1,337
|
)
|
3,700
|
||||||||
|
Depreciation and amortization
|
20,896
|
22,304
|
20,457
|
|||||||||
|
Other items (d)
|
937
|
980
|
897
|
|||||||||
|
Non-GAAP EBITDA
|
$
|
28,952
|
$
|
29,132
|
$
|
49,729
|
||||||
Notes:
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(a)
|
Represents tax benefit primarily related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary in Taiwan
|
| (b) |
Represents gain on sale of investment in a foreign entity
|
| (c) |
Includes net income attributable to noncontrolling interests and, in 2016, includes gain on sale of investment in a foreign entity
|
| (d) |
Consists of stock compensation expense
|