EX-99.7 8 exhibit99-7.htm RECONCILIATION OF GAAP OPERATING INCOME TO NON-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								Year Ended
	November 2,				November 3,				November 2,				November 3,
	2014				2013				2014				2013
	$		%		$		%		$		%		$		%
			(b)				(b)				(b)				(b)
GAAP Operating Income	$	9,277	7.5	%	$	7,369	7.0	%	$	28,795	6.3	%	$	30,669	7.3	%
(a) Acquisition transaction expenses		—	—			773	0.7			2,455	0.6			773	0.1

Non-GAAP Operating Income	$	9,277	7.5	%	$	8,142	7.7	%	$	31,250	6.9	%	$	31,442	7.4	%

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

(b)		Represents percentage of net sales.