EARNINGS PER SHARE

12 Months Ended

Oct. 31, 2022

NOTE 12 - EARNINGS PER SHARE

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

	Year Ended
	October 31, 2022		October 31, 2021		October 31, 2020

Net income attributable to Photronics, Inc. shareholders	$	118,786	$	55,449	$	33,820
Effect of dilutive securities		-		-		-

Earnings used for diluted earnings per share	$	118,786	$	55,449	$	33,820

Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		60,559		61,407		64,866
Effect of dilutive securities:
Share-based payment awards		630		592		604

Potentially dilutive common shares		630		592		604

Weighted-average common shares used for diluted earnings per share		61,189		61,999		65,470

Basic earnings per share	$	1.96	$	0.90	$	0.52
Diluted earnings per share	$	1.94	$	0.89	$	0.52

The table below sets forth 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.

	Year Ended
	October 31, 2022		October 31, 2021		October 31, 2020

Share based payment awards		314		331		795
Total potentially dilutive shares excluded		314		331		795