Attached files
| file | filename |
|---|---|
| 8-K - CURRENT REPORT - PHOTRONICS INC | photronics_8k.htm |
| EX-99.7 - RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME - PHOTRONICS INC | exhibit99-7.htm |
| EX-99.1 - PRESS RELEASE DATED MAY 18, 2015 - PHOTRONICS INC | exhibit99-1.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-99.5 - RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION - PHOTRONICS INC | exhibit99-5.htm |
| EX-99.3 - CONDENSED CONSOLIDATED BALANCE SHEETS - PHOTRONICS INC | exhibit99-3.htm |
PHOTRONICS, INC. AND
SUBSIDIARIES
Non-GAAP Financial Measure
Reconciliation of GAAP Net Income to Non-GAAP EBITDA
(in
thousands)
(Unaudited)
| Three Months Ended | Six Months Ended | |||||||||||||
| May 3, | May 4, | May 3, | May 4, | |||||||||||
| 2015 | 2014 | 2015 | 2014 | |||||||||||
| GAAP Net Income (a) | $ | 12,156 | $ | 15,950 | $ | 19,298 | $ | 17,992 | ||||||
| Add: interest expense | 1,233 | 1,816 | 2,603 | 3,800 | ||||||||||
| Add: income tax expense | 1,252 | 2,032 | 4,386 | 4,747 | ||||||||||
| Add: depreciation and amortization | 19,293 | 18,550 | 39,900 | 35,972 | ||||||||||
| Add (less): special items (b) | 912 | (13,310 | ) | 2,738 | (11,768 | ) | ||||||||
| Non-GAAP EBITDA | $ | 34,846 | $ | 25,038 | $ | 68,925 | $ | 50,743 | ||||||
| (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. |