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

	Three Months Ended						Nine Months Ended
	July 28,			July 29,			July 28,			July 29,
	2013			2012			2013			2012
Net sales	$	109,652		$	116,616		$	316,171		$	346,220
Costs and expenses:
Cost of sales		(82,574	)		(84,312	)		(243,206	)		(258,598	)
Selling, general and administrative		(12,068	)		(11,784	)		(35,286	)		(35,311	)
Research and development		(4,985	)		(5,221	)		(14,380	)		(14,106	)
Consolidation, restructuring and related charges		-			(7	)		-			(1,182	)
Operating income		10,025			15,292			23,299			37,023
Other expense, net		(972	)		(767	)		(2,479	)		(2,143	)
Income before income tax provision		9,053			14,525			20,820			34,880
Income tax provision		(2,689	)		(3,258	)		(6,155	)		(9,242	)
Net income		6,364			11,267			14,665			25,638
Net income attributable to noncontrolling interests		(424	)		(317	)		(1,539	)		(1,603	)
Net income attributable to Photronics, Inc. shareholders	$	5,940		$	10,950		$	13,126		$	24,035
Earnings per share:
Basic	$	0.10		$	0.18		$	0.22		$	0.40
Diluted	$	0.10		$	0.16		$	0.21		$	0.37
Weighted average number of common shares
outstanding:
Basic		60,746			60,121			60,505			60,008
Diluted		66,177			76,436			61,478			76,460