EARNINGS PER SHARE (Tables)

6 Months Ended

Apr. 29, 2018

EARNINGS PER SHARE [Abstract]

Calculation of basic and diluted earnings per share

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

	Three Months Ended				Six Months Ended
	April 29, 2018		April 30, 2017		April 29 2018		April 30 2017
Net income attributable to Photronics, Inc. shareholders	$	10,665	$	1,797	$	16,563	$	3,744
Effect of dilutive securities:
Interest expense on convertible notes, net of tax		496		-		992		-
Earnings used for diluted earnings per share	$	11,161	$	1,797	$	17,555	$	3,744
Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		69,293		68,426		69,024		68,301
Effect of dilutive securities:
Convertible notes		5,542		-		5,542		-
Share-based payment awards		355		959		486		976
Potentially dilutive common shares		5,897		959		6,028		976
Weighted-average common shares used for diluted earnings per share		75,190		69,385		75,052		69,277
Basic earnings per share	$	0.15	$	0.03	$	0.24	$	0.05
Diluted earnings per share	$	0.15	$	0.03	$	0.23	$	0.05

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 prices 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 29, 2018		April 30, 2017		April 29, 2018		April 30, 2017
Share-based payment awards		2,022		1,082		1,803		1,038
Convertible notes		-		5,542		-		5,542
Total potentially dilutive shares excluded		2,022		6,624		1,803		6,580