EARNINGS PER SHARE (Tables)

12 Months Ended

Oct. 30, 2016

EARNINGS PER SHARE [Abstract]

Calculation of basic and diluted earnings per share

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

	Year Ended
	October 30, 2016		November 1, 2015		November 2, 2014
Net income attributable to Photronics, Inc. shareholders	$	46,200	$	44,625	$	25,996
Effect of dilutive securities:
Interest expense on convertible notes, net of related tax effects		2,938		4,363		1,426
Earnings for diluted earnings per share	$	49,138	$	48,988	$	27,422
Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		67,539		66,331		61,779
Effect of dilutive securities:
Convertible notes		7,841		11,085		3,945
Share-based payment awards		974		967		955
Dilutive common shares		8,815		12,052		4,900
Weighted-average common shares used for diluted earnings per share		76,354		78,383		66,679
Basic earnings per share	$	0.68	$	0.67	$	0.42
Diluted earnings per share	$	0.64	$	0.63	$	0.41

Outstanding securities excluded from the calculation of diluted earnings per share

The table below shows the outstanding weighted-average share-based payment awards 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 30, 2016		November 1, 2015		November 2, 2014
Share based payment awards		1,635		1,641		1,911
Convertible notes		-		-		11,085
Total potentially dilutive shares excluded		1,635		1,641		12,996