EARNINGS PER SHARE

3 Months Ended

Jan. 31, 2016

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

NOTE 8 - EARNINGS PER SHARE

The calculation of basic and diluted earnings per share is presented below.

	Three Months Ended
	January 31, 2016		February 1, 2015
Net income attributable to Photronics, Inc. shareholders	$	21,002	$	3,837
Effect of dilutive securities:
Interest expense on convertible notes, net of tax		1,071		-
Earnings for diluted earnings per share	$	22,073	$	3,837
Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		66,807		66,066
Effect of dilutive securities:
Convertible notes		11,084		-
Share-based payment awards		1,245		954
Potentially dilutive common shares		12,329		954
Weighted-average common shares used for diluted earnings per share		79,136		67,020
Basic earnings per share	$	0.31	$	0.06
Diluted earnings per share	$	0.28	$	0.06

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 anti-dilutive. The table also shows convertible notes that, if converted, would have been anti-dilutive.

	Three Months Ended
	January 31, 2016		February 1, 2015
Share-based payment awards		668		1,587
Convertible notes		-		11,085
Total potentially dilutive shares excluded		668		12,672