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EARNINGS PER SHARE
 6 Months Ended
May 02, 2021
EARNINGS PER SHARE [Abstract]  
EARNINGS PER SHARE
NOTE 11 - EARNINGS PER SHARE


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

  
Three Months Ended
    
Six Months Ended
  
   
May 2,
2021
    
May 3,
2020
    
May 2,
2021
    
May 3,
2020
  
                         
Net income attributable to Photronics, Inc. shareholders
  
$
10,526
    
$
6,284
    
$
18,562
    
$
16,584
  
                                 
Effect of dilutive securities
    
-
      
-
      
-
      
-
  
Earnings used for diluted earnings per share
  
$
10,526
    
$
6,284
    
$
18,562
    
$
16,584
  
                                 
Weighted-average common shares computations:
                                
Weighted-average common shares used for basic earnings per share
    
62,054
      
64,937
      
62,265
      
65,246
  
Effect of dilutive securities:
                                
Share-based payment awards
    
514
      
480
      
521
      
687
  
                                 
Potentially dilutive common shares
    
514
      
480
      
521
      
687
  
                                 
Weighted-average common shares used for diluted earnings per share
    
62,568
      
65,417
      
62,786
      
65,933
  
                                 
Basic earnings per share
  
$
0.17
    
$
0.10
    
$
0.30
    
$
0.25
  
Diluted earnings per share
  
$
0.17
    
$
0.10
    
$
0.30
    
$
0.25
  


The table below illustrates 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 antidilutive.

  
Three Months Ended
    
Six Months Ended
  
   
May 2,
2021
    
May 3,
2020
    
May 2,
2021
    
May 3,
2020
  
                         
Share-based payment awards
    
293
      
1,009
      
559
      
591
  
                                 
Total potentially dilutive shares excluded
    
293
      
1,009
      
559
      
591
  


Subsequent to May 2, 2021, our outstanding common stock was reduced by a net 0.7 million shares, primarily as a result of share repurchases. Please refer to Note 14 for information on our share repurchase programs.