EARNINGS PER SHARE (Tables)

12 Months Ended

Oct. 28, 2012

EARNINGS PER SHARE [Abstract]

Calculation of basic and diluted earnings (loss) per share

     The calculation of basic and diluted earnings per share is presented as follows:

	Year Ended
	October 28, 2012			October 30, 2011		October 31, 2010
Net income attributable to Photronics, Inc. shareholders	$	27,868		$	16,229	$	23,922
Effect of dilutive securities:
Interest expense on convertible notes, net of related tax effects		6,168			-		4,085
Gain related to common stock warrants fair value adjustment		(94	)		-		-
Earnings for diluted earnings per share	$	33,942		$	16,229	$	28,007
Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		60,055			57,030		53,433
Effect of dilutive securities:
Share-based payment awards		767			1,145		996
Common stock warrants		219			283		63
Convertible notes		15,423			-		11,311
Dilutive potential common shares		16,409			1,428		12,370
Weighted-average common shares used for diluted earnings per share		76,464			58,458		65,803
Basic earnings per share	$	0.46		$	0.28	$	0.45
Diluted earnings per share	$	0.44		$	0.28	$	0.43

Outstanding securities excluded from the calculation of diluted earnings or loss per share

     The table below shows the outstanding weighted-average share-based payment awards and common stock warrants that were excluded from the calculation of diluted earnings per share because their exercise price exceeded the average market value of the common shares for the period or, under application of the treasury stock method, they were otherwise determined to be antidilutive. The table also shows convertible notes that, if converted, would have been antidilutive.

	Year Ended
	October 28, 2012		October 30, 2011		October 31, 2010
Share based payment awards		2,587		2,407		2,684
Convertible notes		-		13,994		-
Common stock warrants		-		213		745
Total potentially dilutive shares excluded		2,587		16,614		3,429