EARNINGS PER SHARE (Tables)

6 Months Ended

Apr. 30, 2017

EARNINGS PER SHARE [Abstract]

Calculation of basic and diluted earnings per share

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

	Three Months Ended				Six Months Ended
	April 30, 2017		May 1, 2016		April 30 2017		May 1, 2016
Net income attributable to Photronics, Inc. shareholders	$	1,797	$	11,854	$	3,744	$	32,856
Effect of dilutive securities:
Interest expense on convertible notes, net of tax		-		875		-		1,946
Earnings for diluted earnings per share	$	1,797	$	12,729	$	3,744	$	34,802
Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		68,426		67,372		68,301		67,090
Effect of dilutive securities:
Share-based payment awards		959		948		976		1,096
Convertible notes		-		9,196		-		10,140
Potentially dilutive common shares		959		10,144		976		11,236
Weighted-average common shares used for diluted earnings per share		69,385		77,516		69,277		78,326
Basic earnings per share	$	0.03	$	0.18	$	0.05	$	0.49
Diluted earnings per share	$	0.03	$	0.16	$	0.05	$	0.44

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 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				Six Months Ended
	April 30, 2017		May 1, 2016		April 30, 2017		May 1, 2016
Convertible notes		5,542		-		5,542		-
Share-based payment awards		1,082		2,160		1,038		1,414
Total potentially dilutive shares excluded		6,624		2,160		6,580		1,414