EX-99.2 3 exhibit99-2.htm RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION exhibit99-2.htm
PHOTRONICS, INC. AND SUBSIDIARIES
Reconciliation of GAAP to Non-GAAP Financial Information
(in thousands, except per share data)
(Unaudited)
 
    Three Months Ended
        January 30,       January 31,
    2011   2010
Reconciliation of GAAP to Non-GAAP Net Income            
GAAP net income attributable to Photronics, Inc.   $      12,111   $      213
       (a) Impact of warrants, net of tax     75     220
       (b) Consolidation and restructuring charges, net of tax     -     193
Non-GAAP net income attributable to Photronics, Inc.   $ 12,186   $ 626
Weighted average number of diluted shares outstanding     66,411     54,824
Earnings per diluted share            
              GAAP   $ 0.20   $ -
              Non-GAAP   $ 0.20   $ 0.01

(a)   Represents financing expenses related to warrants, which are recorded in other income (expense).
         
(b)   Represents charges related to restructuring in China.