EARNINGS PER SHARE

9 Months Ended

Aug. 03, 2025

NOTE 11 - EARNINGS PER SHARE

The following sets forth the computation of basic and diluted earnings per share:

	Three Months Ended				Nine Months Ended
	August 3,		July 28,		August 3,		July 28,
	2025		2024		2025		2024
Net income attributable to Photronics, Inc. shareholders	$	22,891	$	34,388	$	74,604	$	96,819

Weighted-average common shares outstanding (in thousands):
Basic		57,937		61,815		60,274		61,681
Effect of dilutive securities:
Share-based awards		131		599		293		688
Dilutive common shares		131		599		293		688

Weighted-average common shares - Diluted		58,068		62,414		60,567		62,369

Earnings per share attributable to Photronics, Inc. shareholders:
Basic	$	0.40	$	0.56	$	1.24	$	1.57
Diluted	$	0.39	$	0.55	$	1.23	$	1.55

The table below illustrates the outstanding weighted-average share-based 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				Nine Months Ended
	August 3,		July 28,		August 3,		July 28,
	2025		2024		2025		2024
Share-based payment awards, in shares		1,094		551		894		264
Total potentially dilutive shares excluded		1,094		551		894		264