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

	Three Months Ended						Year Ended
	November 3,			October 28,			November 3,			October 28,
	2013			2012			2013			2012
Net sales	$	106,009		$	104,219		$	422,180		$	450,439
Costs and expenses:
Cost of sales		(79,334	)		(79,922	)		(322,540	)		(338,519	)
Selling, general and administrative		(12,928	)		(11,396	)		(48,213	)		(46,706	)
Research and development		(6,378	)		(5,264	)		(20,758	)		(19,371	)
Consolidation, restructuring and related charges		-			(246	)		-			(1,428	)
Operating income		7,369			7,391			30,669			44,415
Other expense, net		(1,384	)		(1,623	)		(3,864	)		(3,767	)
Income before income taxes		5,985			5,768			26,805			40,648
Income tax provision		(1,072	)		(1,551	)		(7,229	)		(10,793	)
Net income		4,913			4,217			19,576			29,855
Net income attributable to noncontrolling interests		(73	)		(384	)		(1,610	)		(1,987	)
Net income attributable to Photronics, Inc. shareholders	$	4,840		$	3,833		$	17,966		$	27,868
Earnings per share:
Basic	$	0.08		$	0.06		$	0.30		$	0.46
Diluted	$	0.08		$	0.06		$	0.29		$	0.44
Weighted-average number of common shares outstanding
Basic		61,058			60,196			60,644			60,055
Diluted		61,962			61,052			61,599			76,464