EARNINGS PER SHARE (Tables)

6 Months Ended

Apr. 28, 2019

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 28, 2019		April 29, 2018		April 28, 2019		April 29, 2018
Net income attributable to Photronics, Inc. shareholders	$	8,479	$	10,665	$	13,746	$	16,563
Effect of dilutive securities:
Interest expense on convertible notes, net of tax		349		496		845		992
Earnings used for diluted earnings per share	$	8,828	$	11,161	$	14,591	$	17,555
Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		66,261		69,293		66,422		69,024
Effect of dilutive securities:
Convertible notes		3,898		5,542		4,720		5,542
Share-based payment awards		438		355		451		486
Potentially dilutive common shares		4,336		5,897		5,171		6,028
Weighted-average common shares used for diluted earnings per share		70,597		75,190		71,593		75,052
Basic earnings per share	$	0.13	$	0.15	$	0.21	$	0.24
Diluted earnings per share	$	0.13	$	0.15	$	0.20	$	0.23

Outstanding Securities Excluded from 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.

	Three Months Ended				Six Months Ended
	April 28, 2019		April 29, 2018		April 28, 2019		April 29, 2018
Share-based payment awards		1,204		2,022		1,134		1,803
Total potentially dilutive shares excluded		1,204		2,022		1,134		1,803