EX-99.7 8 exhibit99-7.htm RECONCILIATION OF NON-GAAP OPERATING MARGIN TO GAAP OPERATING INCOME

PHOTRONICS, INC. AND SUBSIDIARIES
Non-GAAP Financial Measure
Reconciliation of GAAP Operating Income to Non-GAAP Operating Income
(in thousands)
(Unaudited)

	Three Months Ended
	February 2,				January 27,
	2014				2013
	$		%		$		%
GAAP Operating Income	$	5,630	5.6	%	$	5,192	5.2	%
(a) Joint venture transaction expenses		437	0.4			—	—

Non-GAAP Operating Income	$	6,067	6.0	%	$	5,192	5.2	%

(a)

Represents transaction expenses in connection with the pending joint venture with DNP Photomask Technology Taiwan Co., Ltd., a wholly-owned subsidiary of Dai Nippon Printing Co., Ltd.