EARNINGS PER SHARE (Tables)

9 Months Ended

Jul. 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				Nine Months Ended
	July 30, 2017		July 31, 2016		July 30, 2017		July 31, 2016
Net income attributable to Photronics, Inc. shareholders	$	4,001	$	8,088	$	7,745	$	40,944
Effect of dilutive securities:
Interest expense on convertible notes, net of tax		-		496		-		2,442
Earnings for diluted earnings per share	$	4,001	$	8,584	$	7,745	$	43,386
Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		68,525		67,953		68,376		67,377
Effect of dilutive securities:
Share-based payment awards		855		822		935		1,006
Convertible notes		-		5,542		-		8,607
Potentially dilutive common shares		855		6,364		935		9,613
Weighted-average common shares used for diluted earnings per share		69,380		74,317		69,311		76,990
Basic earnings per share	$	0.06	$	0.12	$	0.11	$	0.61
Diluted earnings per share	$	0.06	$	0.12	$	0.11	$	0.56

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				Nine Months Ended
	July 30, 2017		July 31, 2016		July 30, 2017		July 31, 2016
Convertible notes		5,542		-		5,542		-
Share-based payment awards		1,087		2,016		1,054		1,615
Total potentially dilutive shares excluded		6,629		2,016		6,596		1,615