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

	Three Months Ended						Nine Months Ended
	August 2,			August 3,			August 2,			August 3,
	2015			2014			2015			2014
Net sales	$	131,699		$	124,852		$	382,513		$	331,276
Costs and expenses:
Cost of sales		(94,456	)		(96,202	)		(283,991	)		(257,554	)
Selling, general and administrative		(12,430	)		(12,394	)		(36,795	)		(38,092	)
Research and development		(6,253	)		(5,199	)		(16,743	)		(16,111	)
Operating income		18,560			11,057			44,984			19,519
Gain on acquisition		-			-			-			16,372
Other income (expense), net		240			(1,168	)		(2,500	)		(3,264	)
Income before income taxes		18,800			9,889			42,484			32,627
Income tax provision		(3,390	)		(2,545	)		(7,775	)		(7,291	)
Net income		15,410			7,344			34,709			25,336
Net income attributable to noncontrolling interests		(3,304	)		(3,158	)		(8,706	)		(3,617	)
Net income attributable to Photronics, Inc. shareholders	$	12,106		$	4,186		$	26,003		$	21,719
Earnings per share:
Basic	$	0.18		$	0.07		$	0.39		$	0.35
Diluted	$	0.17		$	0.07		$	0.37		$	0.34
Weighted-average number of common shares outstanding
Basic		66,454			61,436			66,250			61,336
Diluted		78,569			62,432			78,300			77,706