Attached files

file filename
8-K - CURRENT REPORT - PHOTRONICS INCphotronics_8k.htm
EX-99.4 - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - PHOTRONICS INCexhibit99-4.htm
EX-99.3 - CONDENSED CONSOLIDATED BALANCE SHEETS - PHOTRONICS INCexhibit99-3.htm
EX-99.1 - PRESS RELEASE DATED DECEMBER 8, 2009 - PHOTRONICS INCexhibit99-1.htm
EX-99.5 - RECONCILIATION OF GAAP TO PRO FORMA FINANCIAL INFORMATION - PHOTRONICS INCexhibit99-5.htm

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

Three Months Ended Year Ended
November 1,       November 2,       November 1,       November 2,
2009 2008 2009 2008
Net sales $ 94,677 $ 103,306 $ 361,353 $ 422,548
Costs and expenses:
       Cost of sales (77,660 ) (85,354 ) (304,282 ) (349,841 )
       Selling, general and administrative (10,166 ) (11,547 ) (41,162 ) (55,167 )
       Research and development (3,768 ) (4,327 ) (15,423 ) (17,475 )
       Consolidation, restructuring and related charges (811 ) (510 ) (13,557 ) (510 )
       Impairment of goodwill and long-lived assets - - (1,458 ) (205,408 )
Gain on sale of facility 2,034 - 2,034 -
       Operating income (loss) 4,306 1,568 (12,495 ) (205,853 )
Other income (expense), net (1,765 ) 24 (24,609 ) (6,316 )
       Income (loss) before income taxes and minority interest 2,541 1,592 (37,104 ) (212,169 )
Income tax (provision) benefit (1,398 ) (1,438 ) (4,323 ) 2,778
       Income (loss) before minority interest 1,143 154 (41,427 ) (209,391 )
Minority interest 98 81 (483 ) (1,374 )
       Net income (loss) $ 1,241 $ 235 $ (41,910 ) $ (210,765 )
 
Earnings (loss) per share:
       Basic $ 0.03 $ 0.01 $ (0.97 ) $ (5.06 )
       Diluted $ (0.11 ) $ 0.01 $ (0.97 ) $ (5.06 )
 
Weighted average number of common shares outstanding:
       Basic 47,522 41,703 43,210 41,658
       Diluted 48,907 41,996 43,210 41,658