EARNINGS PER SHARE (Tables)

6 Months Ended

May 03, 2026

Calculation of Basic and Diluted Earnings Per Share

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

	Three Months Ended				Six Months Ended
	May 3,		May 4,		May 3,		May 4,
	2026		2025		2026		2025
Net income attributable to Photronics, Inc. shareholders	$	31,429	$	8,861	$	74,368	$	51,712

Weighted-average common shares outstanding (in thousands):
Basic		58,123		60,793		57,959		61,443
Effect of dilutive securities:
Share-based awards		622		181		609		374
Potentially dilutive common shares		622		181		609		374

Weighted-average common shares - Diluted		58,745		60,974		58,568		61,817

Earnings per share:
Net Income attributable to Photronics shareholders - Basic	$	0.54	$	0.15	$	1.28	$	0.84
Net Income attributable to Photronics shareholders - Diluted	$	0.54	$	0.15	$	1.27	$	0.84

Outstanding Securities Excluded from Calculation of Diluted Earnings or Loss Per Share

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.

	Three Months Ended				Six Months Ended
	May 3,		May 4,		May 3,		May 4,
(in thousands of shares)	2026		2025		2026		2025
Share-based payment awards, in shares		5		1,099		81		793
Total potentially dilutive shares excluded		5		1,099		81		793