EARNINGS PER SHARE

9 Months Ended

Aug. 01, 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				Nine Months Ended
	August 1, 2021		August 2, 2020		August 1, 2021		August 2, 2020
Net income attributable to Photronics, Inc. shareholders	$	17,076	$	10,776	$	35,638	$	27,360
Effect of dilutive securities		-		-		-		-
Earnings used for diluted earnings per share	$	17,076	$	10,776	$	35,638	$	27,360
Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		60,884		64,780		61,804		65,090
Effect of dilutive securities:
Share-based payment awards		631		467		558		614
Potentially dilutive common shares		631		467		558		614
Weighted-average common shares used for diluted earnings per share		61,515		65,247		62,362		65,704
Basic earnings per share	$	0.28	$	0.17	$	0.58	$	0.42
Diluted earnings per share	$	0.28	$	0.17	$	0.57	$	0.42

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				Nine Months Ended
	August 1, 2021		August 2, 2020		August 1, 2021		August 2, 2020
Share-based payment awards		206		985		442		723
Total potentially dilutive shares excluded		206		985		442		723

Subsequent to August 1, 2021, our outstanding common stock was reduced by a net 0.6 million shares, primarily as a result of share repurchases. Please refer to Note 14 for information on our share repurchase programs.