PHOTRONICS, INC. AND
SUBSIDIARIES
Non-GAAP Financial Measure
Reconciliation of GAAP Operating Income to
Non-GAAP Operating Income
(in thousands)
(Unaudited)
|
|
Three Months
Ended |
|
Nine Months
Ended |
|
|
August 2, |
|
August 3, |
|
August 2, |
|
August 3, |
|
|
2015 |
|
2014 |
|
2015 |
|
2014 |
|
|
$ |
|
% |
|
$ |
|
% |
|
$ |
|
% |
|
$ |
|
% |
|
|
|
|
|
(a) |
|
|
|
|
(a) |
|
|
|
|
(a) |
|
|
|
|
(a) |
GAAP Operating Income |
|
$ |
18,560 |
|
14.1 |
% |
|
$ |
11,057 |
|
8.9 |
% |
|
$ |
44,984 |
|
11.8 |
% |
|
$ |
19,519 |
|
5.9 |
% |
Acquisition transaction expenses
(b) |
|
|
- |
|
- |
|
|
|
- |
|
- |
|
|
|
- |
|
- |
|
|
|
2,455 |
|
0.7 |
|
|
Non-GAAP Operating Income |
|
$ |
18,560 |
|
14.1 |
% |
|
$ |
11,057 |
|
8.9 |
% |
|
$ |
44,984 |
|
11.8 |
% |
|
$ |
21,974 |
|
6.6 |
% |
(a) |
Represents percentage
of net sales |
|
(b) |
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. |
|