Attached files
| file | filename |
|---|---|
| EX-99.5 - EXHIBIT 99.5 - PHOTRONICS INC | ex99_5.htm |
| EX-99.4 - EXHIBIT 99.4 - PHOTRONICS INC | ex99_4.htm |
| EX-99.3 - EXHIBIT 99.3 - PHOTRONICS INC | ex99_3.htm |
| EX-99.2 - EXHIBIT 99.2 - PHOTRONICS INC | ex99_2.htm |
| EX-99.1 - EXHIBIT 99.1 - PHOTRONICS INC | ex99_1.htm |
| 8-K - 8-K - PHOTRONICS INC | form8k.htm |
Exhibit 99.6
PHOTRONICS, INC. AND SUBSIDIARIES
Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Information
(in thousands, except per share data)
(Unaudited)
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||||||
|
April 30,
2017 |
January 29,
2017 |
May 1,
2016 |
April 30,
2017 |
May 1,
2016 |
||||||||||||||||
|
Reconciliation of GAAP to Non-GAAP Net Income
|
||||||||||||||||||||
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Attributable to Photronics, Inc. Shareholders and EPS data
|
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GAAP net income attributable to Photronics, Inc. shareholders
|
$
|
1,797
|
$
|
1,946
|
$
|
11,854
|
$
|
3,743
|
$
|
32,856
|
||||||||||
|
Income tax expense/(benefit) (a)
|
-
|
-
|
(3,004
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)
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-
|
(3,004
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)
|
|||||||||||||
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Gain on sale of investment, net of tax (b)
|
-
|
-
|
-
|
-
|
(8,753
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)
|
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Non-GAAP net income attributable to Photronics, Inc. shareholders
|
$
|
1,797
|
$
|
1,946
|
$
|
8,850
|
$
|
3,743
|
$
|
21,099
|
||||||||||
|
Weighted average number of diluted shares outstanding
|
||||||||||||||||||||
|
GAAP
|
69,385
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69,169
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77,516
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69,277
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78,326
|
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|
Non-GAAP
|
69,385
|
69,169
|
77,516
|
69,277
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78,326
|
|||||||||||||||
|
Net income per diluted share
|
||||||||||||||||||||
|
GAAP
|
$
|
0.03
|
$
|
0.03
|
$
|
0.16
|
$
|
0.05
|
$
|
0.44
|
||||||||||
|
Non-GAAP
|
$
|
0.03
|
$
|
0.03
|
$
|
0.13
|
$
|
0.05
|
$
|
0.29
|
||||||||||
|
Reconciliation of GAAP Net Income to Non-GAAP EBITDA
|
||||||||||||||||||||
|
GAAP Net Income (c)
|
$
|
1,484
|
$
|
4,510
|
$
|
14,153
|
$
|
5,994
|
$
|
37,653
|
||||||||||
|
Interest expense
|
550
|
559
|
964
|
1,109
|
2,138
|
|||||||||||||||
|
Income tax expense/(benefit)
|
431
|
2,050
|
(2,326
|
)
|
2,481
|
1,374
|
||||||||||||||
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Depreciation and amortization
|
21,345
|
20,896
|
20,073
|
42,241
|
40,530
|
|||||||||||||||
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Other items (d)
|
921
|
937
|
976
|
1,858
|
1,873
|
|||||||||||||||
|
Non-GAAP EBITDA
|
$
|
24,731
|
$
|
28,952
|
$
|
33,840
|
$
|
53,683
|
$
|
83,568
|
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Notes:
| (a) |
Represents tax benefit primarily related to the recognition of prior period tax benefits and other tax positions no longer deemed necessary in Taiwan
|
| (b) |
Represents gain on sale of investment in a foreign entity
|
| (c) |
Includes net income attributable to noncontrolling interests, and in 2016 includes gain on sale of investment in a foreign entity
|
| (d) |
Consists of stock compensation expense
|