Attached files
file | filename |
---|---|
8-K - CURRENT REPORT - PHOTRONICS INC | photronics_8k.htm |
EX-99.1 - PRESS RELEASE DATED DECEMBER 8, 2014 - PHOTRONICS INC | exhibit99-1.htm |
EX-99.7 - RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME - PHOTRONICS INC | exhibit99-7.htm |
EX-99.5 - RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION - PHOTRONICS INC | exhibit99-5.htm |
EX-99.4 - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - PHOTRONICS INC | exhibit99-4.htm |
EX-99.2 - CONDENSED CONSOLIDATED STATEMENTS OF INCOME - PHOTRONICS INC | exhibit99-2.htm |
EX-99.3 - CONDENSED CONSOLIDATED BALANCE SHEETS - PHOTRONICS INC | exhibit99-3.htm |
PHOTRONICS, INC. AND
SUBSIDIARIES
Non-GAAP Financial Measure
Reconciliation of GAAP Net Income
to EBITDA
(in
thousands)
(Unaudited)
Three Months Ended | Year Ended | |||||||||||
November 2, | November 3, | November 2, | November 3, | |||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
GAAP Net Income (a) | $ | 6,699 | $ | 4,913 | $ | 32,035 | $ | 19,576 | ||||
Add: interest expense | 1,638 | 2,051 | 7,247 | 7,756 | ||||||||
Add: income tax expense | 2,004 | 1,072 | 9,295 | 7,229 | ||||||||
Add: depreciation and amortization | 21,421 | 17,453 | 78,685 | 71,408 | ||||||||
Add (less): special items (b) | 941 | 1,156 | (9,846 | ) | 3,974 | |||||||
EBITDA | $ | 32,703 | $ | 26,645 | $ | 117,416 | $ | 109,943 |
(a) | Includes net income attributable to noncontrolling interests. | |
(b) | Special items consist of stock compensation expense, and in 2014 noncash gain on acquisition of DNP Photomask Technology Taiwan, Co., Ltd., a wholly-owned subsidiary of Dai Nippon Printing Co., Ltd., and related acquisition transaction expenses. |