PHOTRONICS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(in thousands, except per share amounts)
(Unaudited)

	Three Months Ended
	January 27,			January 29,
	2013			2012
Net sales	$	99,839		$	112,154
Costs and expenses:
Cost of sales		(78,741	)		(86,696	)
Selling, general and administrative		(11,067	)		(11,325	)
Research and development		(4,839	)		(4,444	)
Consolidation, restructuring and related charges		-			(1,118	)
Operating income		5,192			8,571
Other income (expense), net		(591	)		(409	)
Income before income taxes		4,601			8,162
Income tax provision		(1,742	)		(3,321	)
Net income		2,859			4,841
Net income attributable to noncontrolling interests		(536	)		(573	)
Net income attributable to Photronics, Inc. shareholders	$	2,323		$	4,268
Earnings per share:
Basic	$	0.04		$	0.07
Diluted	$	0.04		$	0.07
Weighted-average number of common shares outstanding:
Basic		60,277			59,817
Diluted		61,095			60,930