EARNINGS PER SHARE

3 Months Ended

Jan. 27, 2013

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

NOTE 9 - EARNINGS PER SHARE

The calculation of basic and diluted earnings per share is presented below.

	Three Months Ended
	January 27, 2013		January 29, 2012
Net income attributable to Photronics, Inc. shareholders	$	2,323	$	4,268
Effect of dilutive securities:
Gains related to common stock warrants fair value adjustment		-		(94	)
Earnings for diluted earnings per share	$	2,323	$	4,174
Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		60,277		59,817
Effect of dilutive securities:
Share-based payment awards		685		831
Common stock warrants		133		282
Potentially dilutive common shares		818		1,113
Weighted-average common shares used for diluted earnings per share		61,095		60,930
Basic earnings per share	$	0.04	$	0.07
Diluted earnings per share	$	0.04	$	0.07

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 anti-dilutive. The table also shows convertible notes that, if converted, would have been anti-dilutive.

	Three Months Ended
	January 27, 2013		January 29, 2012
Convertible notes		15,423		15,423
Share-based payment awards		2,943		2,550
Total potentially dilutive shares excluded		18,366		17,973