NOTE 9 - EARNINGS PER SHARE

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

	Three Months Ended
	January 28, 2018		January 29, 2017

Net income attributable to Photronics, Inc. shareholders	$	5,898	$	1,946

Effect of dilutive securities		-		-

Earnings used for diluted earnings per share	$	5,898	$	1,946

Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		68,755		68,176
Effect of dilutive securities:
Share-based payment awards		617		993

Potentially dilutive common shares		617		993

Weighted-average common shares used for diluted earnings per share		69,372		69,169

Basic earnings per share	$	0.09	$	0.03
Diluted earnings per share	$	0.09	$	0.03

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 be antidilutive.

	Three Months Ended
	January 28, 2018		January 29, 2017

Convertible notes		5,542		-
Share-based payment awards		1,583		993

Total potentially dilutive shares excluded		7,125		993