EARNINGS PER SHARE (Tables)

12 Months Ended

Nov. 01, 2015

EARNINGS PER SHARE [Abstract]

Calculation of basic and diluted earnings per share

The calculation of basic and diluted earnings per share is presented as follows:

	Year Ended
	November 1, 2015		November 2, 2014		November 3, 2013
Net income attributable to Photronics, Inc. shareholders	$	44,625	$	25,996	$	17,966
Effect of dilutive securities:
Interest expense on convertible notes, net of related tax effects		4,363		1,426		-
Earnings for diluted earnings per share	$	48,988	$	27,422	$	17,966
Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		66,331		61,779		60,644
Effect of dilutive securities:
Convertible notes		11,085		3,945		-
Share-based payment awards		967		955		813
Common stock warrants		-		-		142
Dilutive common shares		12,052		4,900		955
Weighted-average common shares used for diluted earnings per share		78,383		66,679		61,599
Basic earnings per share	$	0.67	$	0.42	$	0.30
Diluted earnings per share	$	0.63	$	0.41	$	0.29

Outstanding securities excluded from the calculation of diluted earnings per share

The table below shows the outstanding weighted-average share-based payment awards that were excluded from the calculation of diluted earnings per share because their exercise price exceeded the average market value of the common shares for the period or, under application of the treasury stock method, they were otherwise determined to be antidilutive. The table also shows convertible notes that, if converted, would have been antidilutive.

	Year Ended
	November 1, 2015		November 2, 2014		November 3, 2013
Share based payment awards		1,641		1,911		2,880
Convertible notes		-		11,085		6,168
Total potentially dilutive shares excluded		1,641		12,996		9,048