EARNINGS PER SHARE

6 Months Ended

Apr. 30, 2023

NOTE 10 - EARNINGS PER SHARE

The calculations of basic and diluted earnings per share are presented below.

	Three Months Ended				Six Months Ended
	April 30, 2023		May 1, 2022		April 30, 2023		May 1, 2022
Net income attributable to Photronics, Inc. shareholders	$	39,929	$	27,432	$	53,915	$	50,496
Effect of dilutive securities		-		-		-		-
Earnings used for diluted earnings per share	$	39,929	$	27,432	$	53,915	$	50,496

Weighted-average common shares computations:
Weighted-average common shares used for basic earnings per share		61,138		60,606		61,016		60,382
Effect of dilutive securities:
Share-based payment awards		369		539		473		659
Potentially dilutive common shares		369		539		473		659

Weighted-average common shares used for diluted earnings per share		61,507		61,145		61,489		61,041

Basic earnings per share	$	0.65	$	0.45	$	0.88	$	0.84
Diluted earnings per share	$	0.65	$	0.45	$	0.88	$	0.83

The table below illustrates 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.

	Three Months Ended				Six Months Ended
	April 30, 2023		May 1, 2022		April 30, 2023		May 1, 2022
Share-based payment awards		267		427		535		626
Total potentially dilutive shares excluded		267		427		535		626