Document And Entity Information (USD $)	12 Months Ended
Document And Entity Information (USD $)	Oct. 30, 2011	Dec. 31, 2011	May 01, 2011
Entity Registrant Name	PHOTRONICS INC
Entity Central Index Key	0000810136
Current Fiscal Year End Date	--10-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 494,018,059
Entity Common Stock, Shares Outstanding		60,194,533
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Oct. 30, 2011

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Oct. 30, 2011	Oct. 31, 2010
Current assets:
Cash and cash equivalents	$ 189,928	$ 98,945
Accounts receivable, net of allowance of $4,055 in 2011 and $4,235 in 2010	85,540	82,951
Inventories	22,100	15,502
Deferred income taxes	609	1,173
Other current assets	7,030	7,231
Total current assets	305,207	205,802
Property, plant and equipment, net	368,680	369,814
Investment in joint venture	79,984	61,127
Intangible assets, net	42,462	47,748
Deferred income taxes	11,239	10,132
Other assets	10,282	9,256
Total assets	817,854	703,879
Current liabilities:
Current portion of long-term borrowings	5,583	11,467
Accounts payable	54,772	77,630
Accrued liabilities	35,546	30,132
Total current liabilities	95,901	119,229
Long-term borrowings	152,577	78,852
Deferred income taxes	737	499
Other liabilities	8,883	9,356
Total liabilities	258,098	207,936
Commitments and contingencies
Equity:
Preferred stock, $0.01 par value, 2,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.01 par value, 150,000 shares authorized, 59,651 shares issued and outstanding at October 30, 2011, and 53,779 shares issued and outstanding at October 31, 2010	597	538
Additional paid-in capital	486,674	436,825
Retained earnings (accumulated deficit)	13,605	(2,624)
Accumulated other comprehensive income	10,171	7,062
Total Photronics, Inc. shareholders' equity	511,047	441,801
Noncontrolling interests	48,709	54,142
Total equity	559,756	495,943
Total liabilities and equity	$ 817,854	$ 703,879

Consolidated Balance Sheets (Parenthetical) (USD $) In Thousands, except Per Share data, unless otherwise specified	Oct. 30, 2011	Oct. 31, 2010
Current assets:
Accounts receivable, allowance	$ 4,055	$ 4,235
Equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	2,000	2,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000	150,000
Common stock, shares issued (in shares)	59,651	53,779
Common stock, shares outstanding (in shares)	59,651	53,779

Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Oct. 30, 2011	Oct. 31, 2010	Nov. 01, 2009
Consolidated Statements of Operations [Abstract]
Net sales	$ 512,020	$ 425,554	$ 361,353
Cost and expenses:
Cost of sales	(375,806)	(333,739)	(304,282)
Selling, general and administrative	(45,240)	(42,387)	(41,162)
Research and development	(15,507)	(14,932)	(15,423)
Consolidation, restructuring and related credits (charges)	0	4,979	(13,557)
Impairment of long-lived assets	0	0	(1,458)
Gain on sale of facility	0	0	2,034
Operating income (loss)	75,467	39,475	(12,495)
Other income (expense):
Debt extinguishment loss	(35,259)	0	0
Interest expense	(7,258)	(9,475)	(22,401)
Investment and other income (expense), net	2,949	2,553	(2,208)
Income (loss) before income tax provision	35,899	32,553	(37,104)
Income tax provision	(15,691)	(7,471)	(4,323)
Net income (loss)	20,208	25,082	(41,427)
Net income attributable to noncontrolling interests	(3,979)	(1,160)	(483)
Net income (loss) attributable to Photronics, Inc.	$ 16,229	$ 23,922	$ (41,910)
Earnings (loss) per share:
Basic (in dollars per share)	$ 0.28	$ 0.45	$ (0.97)
Diluted (in dollars per share)	$ 0.28	$ 0.43	$ (0.97)
Weighted-average number of common shares outstanding:
Basic (in shares)	57,030	53,433	43,210
Diluted (in shares)	58,458	65,803	43,210

Consolidated Statements of Equity and Other Comprehensive Income (Loss) (USD $) In Thousands, unless otherwise specified	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings Accumulated (Deficit) [Member]	Accumulated Other Comprehensive Income (Loss), Unrealized Investment Gains (Losses) [Member]	Accumulated Other Comprehensive Income (Loss), Cash Flow Hedges [Member]	Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation [Member]	Accumulated Other Comprehensive Income (Loss) Other [Member]	Accumulated Other Comprehensive Income (Loss) Total [Member]	Total Photronics, Inc. [Member]	Non-Controlling Interest [Member]
Balance at Nov. 02, 2008	$ 432,398	$ 417	$ 384,502	$ 15,364	$ (62)	$ (1,652)	$ (15,520)	$ (267)	$ (17,501)	$ 382,782	$ 49,616
Balance (in shares) at Nov. 02, 2008		41,712
Comprehensive income (loss):
Net (loss) income	(41,427)	0	0	(41,910)	0	0	0	0	0	(41,910)	483
Unrealized holding income (losses) reclassification adjustment	101	0	0	0	62	0	0	0	62	62	39
Amortization of cash flow hedges	576	0	0	0	0	576	0	0	576	576	0
Foreign currency translation adjustments	11,054	0	0	0	0	0	10,712	0	10,712	10,712	342
Other	(339)	0	0	0	0	0	0	(238)	(238)	(238)	(101)
Total comprehensive (loss) income	(30,035)									(30,798)	763
Subsidiary dividend	(438)	0	0	0	0	0	0	0	0	0	(438)
Sale of common stock through employee stock option and purchase plan (in shares)		28
Sale of common stock through employee stock option and purchase plan	117	0	117	0	0	0	0	0	0	117	0
Restricted stock awards vestings and expense (in shares)		121
Restricted stock awards vestings and expense	810	1	809	0	0	0	0	0	0	810	0
Share-based compensation expense	1,326	0	1,326	0	0	0	0	0	0	1,326	0
Common stock issued in public offering (net) (in shares)		11,084
Common stock issued in public offering (net)	43,097	111	42,986	0	0	0	0	0	0	43,097	0
Common stock warrants issued	2,081	0	2,081	0	0	0	0	0	0	2,081	0
Common stock warrants exercised (in shares)		66
Common stock warrants exercised	340	1	339	0	0	0	0	0	0	340	0
Balance at Nov. 01, 2009	449,696	530	432,160	(26,546)	0	(1,076)	(4,808)	(505)	(6,389)	399,755	49,941
Balance (in shares) at Nov. 01, 2009		53,011
Comprehensive income (loss):
Net (loss) income	25,082	0	0	23,922	0	0	0	0	0	23,922	1,160
Unrealized holding losses	209				147				147	147	62
Unrealized holding income (losses) reclassification adjustment	(209)	0	0	0	(147)	0	0	0	(147)	(147)	(62)
Amortization of cash flow hedges	129	0	0	0	0	129	0	0	129	129	0
Foreign currency translation adjustments	16,574	0	0	0	0	0	13,451	0	13,451	13,451	3,123
OCI reclassification	0	0	0	0	0	0	(214)	214	0	0	0
Other	(211)	0	0	0	0	0	0	(129)	(129)	(129)	(82)
Total comprehensive (loss) income	41,574									37,373	4,201
Sale of common stock through employee stock option and purchase plan (in shares)		242
Sale of common stock through employee stock option and purchase plan	522	2	520	0	0	0	0	0	0	522	0
Restricted stock awards vestings and expense (in shares)		58
Restricted stock awards vestings and expense	510	1	509	0	0	0	0	0	0	510	0
Share-based compensation expense	1,374	0	1,374	0	0	0	0	0	0	1,374	0
Common stock warrants exercised (in shares)		468
Common stock warrants exercised	2,240	5	2,235	0	0	0	0	0	0	2,240	0
Common stock issuance costs	27	0	27	0	0	0	0	0	0	27	0
Balance at Oct. 31, 2010	495,943	538	436,825	(2,624)	0	(947)	8,429	(420)	7,062	441,801	54,142
Balance (in shares) at Oct. 31, 2010	53,779	53,779
Comprehensive income (loss):
Net (loss) income	20,208	0	0	16,229	0	0	0	0	0	16,229	3,979
Amortization of cash flow hedges	128	0	0	0	0	128	0	0	128	128	0
Foreign currency translation adjustments	3,267	0	0	0	0	0	3,040	0	3,040	3,040	227
Other	(35)	0	0	0	0	0	0	(25)	(25)	(25)	(10)
Total comprehensive (loss) income	23,568									19,372	4,196
Common stock issued to extinguish debt (in shares)		5,229
Common stock issued to extinguish debt	45,637	52	45,585	0	0	0	0	0	0	45,637	0
Sale of common stock through employee stock option and purchase plan (in shares)		440
Sale of common stock through employee stock option and purchase plan	856	5	851	0	0	0	0	0	0	856	0
Restricted stock awards vestings and expense (in shares)		81
Restricted stock awards vestings and expense	1,036	1	1,035	0	0	0	0	0	0	1,036	0
Share-based compensation expense	1,422	0	1,422	0	0	0	0	0	0	1,422	0
Common stock warrants exercised (in shares)		122
Common stock warrants exercised	1,158	1	1,157	0	0	0	0	0	0	1,158	0
Repurchase of common stock by subsidiary	(9,864)	0	(201)	0	0	0	0	(34)	(34)	(235)	(9,629)
Balance at Oct. 30, 2011	$ 559,756	$ 597	$ 486,674	$ 13,605	$ 0	$ (819)	$ 11,469	$ (479)	$ 10,171	$ 511,047	$ 48,709
Balance (in shares) at Oct. 30, 2011	59,651	59,651

Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 30, 2011	Oct. 31, 2010	Nov. 01, 2009
Cash flows from operating activities:
Net income (loss)	$ 20,208	$ 25,082	$ (41,427)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization of property, plant and equipment	86,661	81,374	76,530
Amortization of deferred financing costs and intangible assets	6,799	8,926	13,944
Debt extinguishment loss	27,399	0	0
Consolidation, restructuring and related charges (credits)	0	(5,059)	10,514
Share-based compensation	2,458	1,883	2,136
Deferred income taxes	(224)	168	(2,943)
Impairment of long-lived assets	0	0	1,458
Gain on sale of facility	0	0	(2,034)
Changes in assets and liabilities:
Accounts receivable	(1,806)	(13,352)	2,709
Inventories	(6,544)	(84)	3,111
Other current assets	223	(725)	3,087
Accounts payable, accrued liabilities and other	1,379	(2,294)	1,063
Net cash provided by operating activities	136,553	95,919	68,148
Cash flows from investing activities:
Purchases of property, plant and equipment	(82,121)	(71,381)	(34,995)
Investment in joint venture	(18,271)	0	0
Proceeds from sales of short-term investments and other	(345)	289	996
Proceeds from sale of facilities	0	12,880	4,321
Return of investment from joint venture	0	0	5,000
Net cash used in investing activities	(100,737)	(58,212)	(24,678)
Cash flows from financing activities:
Proceeds from debt and equity offerings	115,000	0	103,500
Proceeds from long-term borrowings	17,000	41,680	28,112
Repayments of long-term borrowings	(64,107)	(72,932)	(161,841)
Payments of expenses related to debt and equity offerings	(4,201)	0	(5,539)
Deferred financing costs and other	(117)	(1,285)	(4,734)
Repurchase of common stock by subsidiary	(9,878)	0	0
Proceeds from share-based arrangements	828	81	0
Net cash provided by (used in) financing activities	54,525	(32,456)	(40,502)
Effects of exchange rate changes on cash	642	5,155	1,808
Net increase in cash and cash equivalents	90,983	10,406	4,776
Cash and cash equivalents at beginning of year	98,945	88,539	83,763
Cash and cash equivalents at end of year	189,928	98,945	88,539
Supplemental disclosures of cash flow information:
Changes in accrual for purchases of property, plant and equipment	(20,836)	28,717	(13,551)
Capital lease obligation for purchases of property, plant and equipment	21,248	0	(28,244)
Common stock issued to extinguish debt	20,234	0	0
Issuances of common stock warrants	$ 0	$ 0	$ 5,320

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Oct. 30, 2011
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Photronics, Inc. and its subsidiaries (the "Company" or "Photronics") is one of the world's leading manufacturers of photomasks, which are high precision photographic quartz plates containing microscopic images of electronic circuits. Photomasks are a key element in the manufacture of semiconductors and flat panel displays ("FPDs"), and are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication of integrated circuits ("ICs") and a variety of FPDs and, to a lesser extent, other types of electrical and optical components. The Company currently operates principally from eight manufacturing facilities; two of which are located in Europe, two in Taiwan, one in Korea, and three in the United States. The Company closed its manufacturing facilities in Manchester, United Kingdom, and Shanghai, China, during the year ended November 1, 2009, and in December 2011 ceased manufacturing photomasks at its facility in Singapore. Consolidation The accompanying consolidated financial statements include the accounts of Photronics, Inc. and its majority-owned subsidiaries that the Company controls. All intercompany balances and transactions have been eliminated in consolidation. Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect amounts reported in them. Actual results may differ from such estimates. Derivative Instruments and Hedging Activities The Company records derivatives in the consolidated balance sheets as assets or liabilities, measured at fair value. The Company does not engage in derivative instruments for speculative purposes. Gains or losses resulting from changes in the values of those derivatives are reported in the consolidated statements of operations, or as accumulated other comprehensive income or loss, a separate component of equity, depending on the use of the derivatives and whether they qualify for hedge accounting. In order to qualify for hedge accounting, among other criteria, a derivative must be a hedge of an interest rate, price, foreign currency exchange rate, or credit risk that is expected to be highly effective at the inception of the hedge, be highly effective in achieving offsetting changes in the fair value or cash flows of the hedged item during the term of the hedge and formally documented at the inception of the hedge. In general, the types of risks the Company has hedged are those related to the variability of future cash flows caused by movements in foreign currency exchange and interest rates. The Company documents its risk management strategy and hedge effectiveness at the inception of, and during the term of, each hedge. Fiscal Year The Company's fiscal year ends on the Sunday closest to October thirty-first, and, as a result, a 53-week year occurs every 5 to 6 years. Fiscal years 2011, 2010 and 2009 each included 52 weeks, as will fiscal year 2012. Cash and Cash Equivalents Cash and cash equivalents include cash and highly liquid investments purchased with an original maturity of 3 months or less. The carrying values of cash equivalents approximate their fair values due to the short-term maturities of these instruments. Inventories Inventories are primarily comprised of raw materials and are stated at the lower of cost, determined under the first-in, first-out ("FIFO") method, or market. Property, Plant and Equipment Property, plant and equipment, except as explained below under "Impairment of Long-Lived Assets," are stated at cost less accumulated depreciation and amortization. Repairs and maintenance, as well as renewals and replacements of a routine nature, are charged to operations as incurred, while those that improve or extend the lives of existing assets are capitalized. Upon sale or other disposition, the cost of the asset and accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in the consolidated statement of operations. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the related assets. Buildings and improvements are depreciated over 15 to 40 years, machinery and equipment over 3 to 10 years and, furniture, fixtures and office equipment over 3 to 5 years. Leasehold improvements are amortized over the life of the lease or the estimated useful life of the improvement, whichever is less. Judgment and assumptions are used in establishing estimated useful lives and depreciation periods. The Company also uses judgment and assumptions as it periodically reviews property, plant and equipment for any potential impairment in carrying values whenever events such as a significant industry downturn, plant closures, technological obsolescence, or other change in circumstances indicate that their carrying amounts may not be recoverable. Intangible Assets Intangible assets consist primarily of a technology license agreement, a supply agreement and acquisition-related intangibles. These assets are stated at fair value as of the date acquired less accumulated amortization. Amortization is calculated using the straight-line method or another method that more fairly represents the utilization of the assets. The Company periodically evaluates the remaining useful lives of its intangible assets to determine whether events or circumstances warrant a revision to the remaining periods of amortization. In the event that the estimate of an intangible asset's remaining useful life has changed, the remaining carrying amount of the intangible asset is amortized prospectively over that revised remaining useful life. If it is determined that an intangible asset has an indefinite useful life, that intangible asset would be subject to impairment testing annually or whenever events or circumstances indicate that the carrying value may not, based on future undiscounted cash flows or market factors, be recoverable, and an impairment loss would be recorded in the period so determined. The measurement of the impairment loss would be based on the fair value of the intangible asset. Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on the Company's judgment and estimates of undiscounted future cash flows resulting from the use of the assets and their eventual disposition. Measurement of an impairment loss for long-lived assets that management expects to hold and use is based on the fair value of the assets. The carrying values of assets determined to be impaired are reduced to their estimated fair values. Fair values of any impaired assets would generally be determined using a market or income approach. Investments in Joint Ventures Investments in joint ventures over which the Company has the ability to exercise significant influence and that, in general, are at least 20 percent owned are stated at cost plus equity in undistributed net income (loss) of the joint venture. An impairment loss would be recognized whenever a decrease in the fair value of such an investment below its carrying amount is determined to be other than temporary. In judging "other than temporary," the Company would consider the length of time and the extent to which the fair value of the investment has been less than the carrying amount of the investment, the near-term and longer-term operating and financial prospects of the investee, and the Company's longer-term intent of retaining its investment in the investee. Variable Interest Entities The Company accounts for the investments it makes in certain legal entities in which equity investors do not have 1) sufficient equity at risk for the legal entity to finance its activities without additional subordinated financial support or, 2) as a group, the holders of the equity investment at risk do not have either the power, through voting or similar rights, to direct the activities of the legal entity that most significantly impact the entity's economic performance or, 3) the obligation to absorb the expected losses of the legal entity or the right to receive expected residual returns of the legal entity. These certain legal entities are referred to as “variable interest entities”, or “VIEs”. The Company would consolidate the results of any such entity in which it determined that it had a controlling financial interest. The Company would have a “controlling financial interest” in such an entity if the Company had both the power to direct the activities that most significantly affect the VIE's economic performance and the obligation to absorb the losses of, or right to receive benefits from, the VIE that could be potentially significant to the VIE. On a quarterly basis, the Company reassesses whether it has a controlling financial interest in any investments it has in these certain legal entities. Income Taxes The income tax provision is computed on the basis of the various tax jurisdictions' income or loss before income taxes. Deferred income taxes reflect the tax effects of differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as the tax effects of net operating losses and tax credit carryforwards. The Company uses judgment and assumptions to determine if valuation allowances for deferred income tax assets are required, if their realization is not more likely than not, by considering future market growth, forecasted operations, future taxable income, and the mix of earnings in the tax jurisdictions in which it operates. The Company considers income taxes in each of the tax jurisdictions in which it operates in order to determine its effective income tax rate. Current income tax exposure is identified and temporary differences resulting from differing treatments of items for tax and financial reporting purposes are assessed. These differences result in deferred tax assets and liabilities, which are included in the Company's consolidated balance sheets. Additionally, the Company evaluates the potential realization of deferred income tax assets from future taxable income and establishes valuation allowances if their realization is deemed not more likely than not. Accordingly, the income taxes in the consolidated statements of operations are impacted by changes in the valuation allowance. Significant management estimates and judgment are required in determining any valuation allowances recorded against net deferred tax assets. The Company accounts for uncertain tax positions by recording a liability for unrecognized tax benefits resulting from uncertain tax positions taken, or expected to be taken, in its tax returns. The Company includes any applicable interest and penalties related to uncertain tax positions in its income tax provision. Earnings Per Share Basic earnings per share ("EPS") is based on the weighted-average number of common shares outstanding for the period, excluding any dilutive common share equivalents. Diluted EPS reflects the potential dilution that could occur if certain share-based payment awards or financial instruments were exercised, earned or converted. Share-Based Compensation The Company adopted Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 718 related to share-based payments on October 31, 2005, using the modified prospective method. Subsequently, compensation expense has been recognized in its consolidated statements of operations over the service period that the awards are expected to vest. The Company recognizes expense for all share-based compensation with graded vesting granted on or after October 31, 2005, on a straight-line basis over the vesting period of the entire award. For awards with graded vesting granted prior to October 31, 2005, the Company recognized compensation cost over the vesting period following accelerated recognition as if each underlying vesting date represented a separate award. Share-based compensation expense includes the estimated effects of forfeitures, which are adjusted over the requisite service period to the extent actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized in the period of change and will also impact the amount of expense to be recognized in future periods. Determining the appropriate option pricing model, calculating the grant date fair value of share-based awards and estimating forfeiture rates requires considerable judgment, including the estimations of stock price volatility and the expected term of options granted. The Company uses the Black-Scholes option pricing model to value employee stock options. The Company estimates stock price volatility based on daily averages of its historical volatility over a term approximately equal to the estimated time period the grant will remain outstanding. The expected term of options and forfeiture rate assumptions are derived from historical data. Research and Development Research and development costs are expensed as incurred, and consist primarily of global development efforts related to high-end process technologies for advanced sub-wavelength reticle solutions for IC photomask technologies. Research and development expenses also include the amortization of the carrying value of a technology license agreement with Micron Technology, Inc. (“Micron”). Under this technology license agreement, the Company has access to certain photomask technology developed by Micron. Foreign Currency Translation The Company's international subsidiaries maintain their accounts in their respective local currencies. Assets and liabilities of such subsidiaries are translated to U.S. dollars at year-end exchange rates. Income and expenses are translated at average rates of exchange prevailing during the year. Foreign currency translation adjustments are accumulated and reported in accumulated other comprehensive income, a component of equity. The effects of changes in exchange rates on foreign currency transactions, which are included in investment and other income (expense), net, were a gain of $0.4 million, a gain of $2.0 million and a loss of $3.1 million in 2011, 2010 and 2009, respectively. Noncontrolling Interests Noncontrolling interests represents the minority shareholders' proportionate share in the equity of the Company's two majority-owned subsidiaries, PK Ltd. ("PKL") in Korea of which noncontrolling shareholders owned approximately 0.3% as of October 30, 2011 and October 31, 2010, and Photronics Semiconductor Mask Corporation ("PSMC") in Taiwan, of which noncontrolling interests owned approximately 38% and 42%, as of October 30, 2011 and October 31, 2010, respectively. The effect on its equity of the change in the Company's ownership interest in PSMC is presented in Note 15. Revenue Recognition The Company recognizes revenue when there is persuasive evidence that an arrangement exists, delivery has occurred, the sales price is fixed or determinable, and collectability is reasonably assured. Delivery is determined by the shipping terms of the individual sales transactions. For sales with FOB destination shipping terms, delivery occurs when the Company's product reaches its destination and is received by the customer. For sales with FOB shipping point terms, delivery occurs when the Company's product is received by the common carrier. The Company uses judgment when estimating the effect on revenue of discounts and product warranty obligations, both of which are accrued when the related revenue is recognized. Warranties and Other Post Shipment Obligations – For a 30-day period, the Company warrants that items sold will conform to customer specifications. However, the Company's liability is limited to the repair or replacement of the photomasks at its sole option. The Company inspects photomasks for conformity to customer specifications prior to shipment. Accordingly, customer returns of items under warranty have historically been insignificant. However, the Company records a liability for the insignificant amount of estimated warranty returns based on historical experience. The Company's specific return policies include accepting returns of products with defects, or products that have not been produced to precise customer specifications. At the time of revenue recognition, a liability is established for these items. Sales Taxes – The Company presents its revenues, in the consolidated statements of operations, net of any sales taxes billed to its customers.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Oct. 30, 2011

PROPERTY, PLANT AND EQUIPMENT [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 2 - PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consists of the following:

	October 30, 2011		October 31, 2010

Land	$	7,330	$	7,983
Buildings and improvements		90,455		80,458
Machinery and equipment		1,195,007		1,115,371
Leasehold improvements		8,778		7,647
Furniture, fixtures and office equipment		13,988		15,273
Construction in progress		4,694		26,265
		1,320,252		1,252,997
Less accumulated depreciation and amortization		951,572		883,183
	$	368,680	$	369,814

Property under capital leases are included in above property, plant and equipment as follows:

	October 30, 2011		October 31, 2010

Buildings and improvements	$	33,621	$	33,621
Machinery and equipment		21,327		19,912
		54,948		53,533
Less accumulated amortization		24,660		21,082
	$	30,288	$	32,451

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details

INTANGIBLE ASSETS

12 Months Ended

Oct. 30, 2011

Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 3 - INTANGIBLE ASSETS

Intangible assets are amortized based on their estimated useful lives, which range from 3 to 15 years. Intangible assets include assets related to the purchase of additional shares of PKL and the investment to form the MP Mask joint venture. Amortization expense of intangible assets was $5.3 million, $6.0 million and $6.5 million in 2011, 2010 and 2009, respectively. Intangible asset amortization is forecasted to range from $4.3 million to $5.1 million per year for the next 5 years.

Intangible assets consist of:

As of October 30, 2011	Gross Amount		Accumulated Amortization		Net Amount
Technology license agreement	$	59,616	$	21,528	$	38,088
Customer lists		7,210		4,154		3,056
Supply agreement		6,959		5,802		1,157
Software and other		3,557		3,396		161
	$	77,342	$	34,880	$	42,462
As of October 31, 2010

Technology license agreement	$	59,616	$	17,554	$	42,062
Customer lists		7,210		3,431		3,779
Supply agreement		6,959		5,355		1,604
Software and other		3,863		3,560		303
	$	77,648	$	29,900	$	47,748

- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References+ Details

JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC.

12 Months Ended

Oct. 30, 2011

JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC. [Abstract]

JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC.

NOTE 4 -

JOINT VENTURE, TECHNOLOGY LICENSE AND OTHER AGREEMENTS WITH MICRON TECHNOLOGY, INC.

On May 5, 2006, Photronics and Micron entered into the MP Mask joint venture (“MP Mask”), which develops and produces photomasks for leading-edge and advanced next generation semiconductors. As part of the formation of the joint venture, Micron contributed its existing photomask technology center located in Boise, Idaho, (headquarters of MP Mask) and Photronics invested $135 million in exchange for a 49.99% interest in MP Mask (to which $64.2 million of the original investment was allocated), a license for photomask technology of Micron, and certain supply agreements.

This joint venture is a variable interest entity ("VIE") (as that term is defined in the Accounting Standards Codification ("ASC") ) because all costs of the joint venture are passed on to the Company and Micron through purchase agreements they have entered into with the joint venture, and it is dependent upon the Company and Micron for any additional cash requirements. On a quarterly basis the Company reassesses whether its interest in MP Mask gives it a controlling financial interest in this VIE. The purpose of this quarterly reassessment is to identify the primary beneficiary (which is defined in the ASC as the entity that consolidates a VIE) of the VIE. As a result of the reassessments in fiscal year 2011, the Company determined that Micron is still the primary beneficiary of the VIE, by virtue of its tie-breaking voting rights within MP Mask's Board of Managers, thereby giving it the power to direct the activities of MP Mask that most significantly impact its economic performance, including its decision making authority in the ordinary course of business and its purchasing the majority of products produced by the VIE.

The Company has utilized MP Mask for both high-end IC photomask production and research and development purposes. MP Mask charges its variable interest holders based on their actual usage of its facility and charges separately for any research and development activities it engages in at the requests of its owners.

MP Mask is governed by a Board of Managers, appointed by Micron and the Company. Since MP Mask's inception, Micron, as a result of its majority ownership, has held majority voting power on the Board of Managers. The voting power held by each party is subject to change as ownership interests change. Under the MP Mask joint venture operating agreement, the Company may be required to make additional capital contributions to MP Mask up to the maximum amount defined in the operating agreement. However, should the Board of Managers determine that further additional funding is required, MP Mask shall pursue its own financing. If MP Mask is unable to obtain its own financing, it may request additional capital contributions from the Company. Should the Company choose not to make a requested contribution to MP Mask, its ownership percentage may be reduced. During fiscal 2011 the Company made additional capital contributions of $18.3 million to the MP Mask joint venture, which were primarily related to capital calls made by the joint venture. The Company made no capital contributions to MP Mask during fiscal 2010, and did not receive any distributions from MP Mask during fiscal 2011 or fiscal 2010.

The Company's investment in the VIE, which represents its maximum exposure to loss, was $80.0 million and $61.1 million at October 30, 2011 and October 31, 2010, respectively. These amounts are reported in the Company's consolidated balance sheets as "Investment in joint venture". The Company recorded income from its investment in MP Mask of $0.6 million and $0.2 million in fiscal 2011 and fiscal 2010, respectively. Income from MP Mask is included in “Investments and other income, net” in the consolidated statements of operations.

As of October 30, 2011, the Company owed MP Mask $6.3 million and had a receivable from Micron of $3.4 million, both primarily related to the aforementioned supply agreements. The Company, in 2011, recorded $1.7 million of commission revenue earned under the supply agreements it has with Micron and MP Mask. Amortization of $0.5 million of the supply agreement intangible asset resulted in net earnings related to the supply agreements of $1.2 million in 2011. The recorded commission revenue of $1.7 million represents the excess of $35.0 million in orders received from Micron over the Company's cost of $33.3 million to fulfill the orders through MP Mask. The Company, for certain sales made during 2011, also recorded cost of sales in the amount of $18.5 million for photomasks produced by MP Mask for the Company's customers, and incurred outsourcing expenses of $3.1 million from MP Mask for research and development activities and other goods and services purchased by the Company. In 2011, the Company purchased equipment from MP Mask for $4.6 million, of which $2.3 million was recorded as the cost of the equipment and $2.3 million was recorded as an investment in joint venture.

As of October 31, 2010, the Company owed MP Mask $5.4 million and had a receivable from Micron of $4.9 million, both primarily related to the supply agreements. The Company, in 2010, recorded $1.7 million of commission revenue earned under the supply agreements it has with Micron and MP Mask. Amortization of $0.5 million of the supply agreement intangible asset resulted in net earnings related to the supply agreements of $1.2 million in 2010. The recorded commission revenue of $1.7 million represents the excess of $35.3 million in orders received from Micron over the Company's cost of $33.6 million to fulfill the orders through MP Mask. The Company, for certain sales made during 2010, also recorded cost of sales in the amount of $5.9 million for photomasks produced by MP Mask for the Company's customers, and incurred outsourcing expenses of $1.9 million from MP Mask for research and development activities and other goods and services purchased by the Company.

The Company, in 2009, recorded $1.8 million of commission revenue earned under the supply agreements it has with Micron and MP Mask. Amortization of $0.9 million of the supply agreement intangible asset resulted in net earnings related to the supply agreements of $0.9 million in 2009. The recorded commission revenue of $1.8 million represents the excess of $37.9 million in orders received from Micron over the Company's cost of $36.1 million to fulfill the orders through MP Mask. The Company, for certain sales made during 2009, also recorded cost of sales in the amount of $4.2 million for photomasks produced by MP Mask for the Company's customers, and incurred outsourcing expenses of $2.0 million from MP Mask for research and development activities and other goods and services purchased by the Company.

In the first quarter of 2008 a capital lease agreement commenced for the U.S. nanoFab facility. Quarterly lease payments, which bore interest at 8%, were $3.8 million through January 2013. This lease was cancelled in the third fiscal quarter of 2009, at which time the Company and Micron (the lessor) entered into a new lease agreement for the facility. Under the provisions of the new lease agreement, quarterly lease payments were reduced from $3.8 million to $2.0 million, the term of the lease was extended from December 31, 2012 to December 31, 2014, and ownership of the property will not transfer to the Company at the end of the lease term. The interest rate of the new lease agreement is also 8%. As a result of the new lease agreement, the Company reduced its lease obligation and the carrying value of its assets under capital leases by approximately $28 million. The Company paid the lease obligation in full with a portion of the net proceeds of the March 2011 issuance of its 3.25% convertible senior notes. The lease will be accounted for as an operating lease during the additional two years of the new lease term.

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

12 Months Ended

Oct. 30, 2011

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES [Abstract]

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

NOTE 6 - DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

The Company utilizes derivative instruments to reduce its exposure to the effects of the variability of interest rates and foreign currencies on its financial performance when it believes such action is warranted. Historically, the Company has been a party to derivative instruments to hedge either the variability of cash flows of a prospective transaction or the fair value of a recorded asset or liability. In certain instances, the Company has designated these transactions as hedging instruments. However, whether or not a derivative was designated as being a hedging instrument, the Company's purpose for engaging in the derivative has always been for risk management (and not speculative) purposes. The Company has historically not been a party to a significant number of derivative instruments and does not expect its derivative activity to significantly increase in the foreseeable future.

In addition to the utilization of derivative instruments discussed above, the Company attempts to minimize its risk of foreign currency exchange rate variability by, whenever possible, procuring production materials within the same country that it will utilize the materials in manufacturing and, by selling to customers from manufacturing sites within the country in which the customers are located.

In May 2009, in connection with an amendment to its credit facility, the Company issued 2.1 million warrants, each exercisable for one share of the Company's common stock at an exercise price of $0.01 per share. Forty percent of the warrants were exercisable upon issuance, and the remaining balance was to become exercisable in twenty percent increments at various points in time after October 31, 2009. As a result of certain net cash settleable put provisions within the warrant agreement, the warrants were recorded as a liability in the Company's consolidated balance sheet. As of the issuance date, and for future periods that such warrants remain outstanding, the Company has, and will continue to, adjust the liability based upon the current fair value of the warrants, with any changes in their fair value being recognized in earnings. Due to the warrants' exercise price of $0.01 per share, their fair value will approximate the market price of the Company's common stock. Approximately 1.2 million of these warrants were cancelled as a result of the Company's early repayment of certain amounts under its credit facility during the year ended November 1, 2009, and the associated liability was reduced accordingly.

The Company was a party to two foreign currency forward contracts which expired during the year ended November 1, 2009, both of which were not accounted for as hedges, as they were economic hedges of intercompany loans denominated in U.S. dollars that were remeasured at fair value and recognized immediately in earnings. A portion of an existing loss on a cash flow hedge in the amount of $0.1 million is expected to be reclassified into earnings during fiscal year 2012.

The table below presents the effect of derivative instruments on the Company's consolidated balance sheets at October 30, 2011 and October 31, 2010.

Derivatives Not Designated		Fair Value at
as Hedging Instruments		October 30,		October 31,
Under ASC 815	Balance Sheet Location	2011		2010

Warrants on common stock	Other liabilities	$	1,147	$	1,881

In December 2011 the above warrants on common stock were exercised.

The table below presents the effect of derivative instruments on the Company's consolidated statements of operations for the years ended October 30, 2011 and October 31, 2010.

		Amount of Loss Recognized Related to Derivative Instruments
		Year Ended
Derivatives Not Designated as Hedging Instruments Under ASC 815	Location of Loss Recognized Related to Derivative Instruments	October 30, 2011			October 31, 2010

Warrants on common stock	Investment and other income (expense), net	$	(424	)	$	(916	)

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

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+ Details

LONG-TERM BORROWINGS

12 Months Ended

Oct. 30, 2011

LONG-TERM BORROWINGS [Abstract]

LONG-TERM BORROWINGS

NOTE 7 - LONG-TERM BORROWINGS

Long-term borrowings consist of the following:

	October 30, 2011		October 31, 2010

3.25% convertible senior notes due on April 1, 2016	$	115,000	$	-

5.50% convertible senior notes due on October 1, 2014		22,054		57,500

3.09% capital lease obligation payable through March 2016		19,218		-

4.75% financing loan with customer		1,888		2,954

8.0% capital lease obligation		-		16,220

5.6% capital lease obligation		-		8,645

Borrowings under revolving credit facility, which bear interest at a variable rate, as defined (3.81% at October 31, 2010)		-		5,000
		158,160		90,319
Less current portion		5,583		11,467
	$	152,577	$	78,852

As of October 30, 2011, long-term borrowings, excluding capital lease obligations, mature as follows: $1,540, $348, $22,054, $0 and $115,000 in fiscal years 2012, 2013, 2014, 2015 and 2016 respectively. The maturity date for the 4.75% financing loan with a customer is dependent upon the timing of photomasks shipped to that customer. The Company currently estimates that the loan will be fully repaid in fiscal 2013, and has reflected that estimate in the yearly maturity amounts presented above.

As of October 30, 2011, minimum lease payments under the Company's capital lease obligations were as follows:

Fiscal Years:

2012	$	4,580
2013		4,961
2014		4,580
2015		4,580
2016		1,909
		20,610
Less interest		1,392
Net minimum lease payments under capital leases		19,218
Less current portion of net minimum lease payments		4,043
Long-term portion of minimum lease payments	$	15,175

In March 2011 the Company issued through a private offering pursuant to Rule 144A under the Securities Act of 1933, as amended, $115 million aggregate principal amount of 3.25% convertible senior notes. The notes mature on April 1, 2016, and note holders may convert each $1,000 principal amount of notes to 96.3879 shares of common stock (equivalent to an initial conversion price of $10.37 per share of common stock) at any time prior to the close of business on the second scheduled trading day immediately preceding April 1, 2016. The conversion rate is subject to adjustment upon the occurrence of certain events, which are described in the indenture dated March 28, 2011. The Company is not required to redeem the notes prior to their maturity date. Interest on the notes accrues in arrears, and is paid semiannually through the notes' maturity date. Interest payments on the notes commenced on October 1, 2011. The net proceeds of the notes were approximately $110.7 million, which were used, in part, to acquire $35.4 million of the Company's 5.5% convertible senior notes which were to mature on October 1, 2014, and to repay, in full, its then outstanding obligations under capital leases of $19.8 million.

In March 2011 the Company amended its revolving credit facility (“the credit facility”) which, as amended, included, among other things: i) a reduction of the aggregate commitments of the lenders from $65 million to $30 million; ii) a reduction of the applicable interest rates and modifications of the leverage ratios related thereto; iii) an extension of the maturity date to April 30, 2015; iv) an increase in the permitted amount of certain financed capital assets up to $75 million outstanding at any one time; v) an allowance to issue the 3.25% convertible senior notes; vi) an increase in the investments “basket” from $15 million to $25 million per year; vii) an allowance to repurchase the 5.5% convertible senior notes and other indebtedness; and viii) removal of the limitation on maximum last twelve months capital expenditures. The credit facility bears interest (2.50% at October 30, 2011), based on the Company's total leverage ratio, at LIBOR plus a spread, as defined in the credit facility.

The credit facility is secured by substantially all of the Company's assets located in the United States, as well as common stock the Company owns in certain of its foreign subsidiaries, and is subject to the following financial covenants: minimum fixed charge ratio, total leverage ratio and minimum unrestricted cash balance. The Company, in connection with a February 2010 amendment to the credit facility, wrote off $1.0 million of deferred financing fees in its second quarter of fiscal 2010. As of October 30, 2011, the Company had no outstanding borrowings under the credit facility and $30 million was available for borrowing.

In June 2011 the Company acquired $5.0 million of its 5.5% convertible senior notes in exchange for 0.7 million shares of its common stock with a fair value of $6.5 million and cash of $3.2 million (the note holders received 147.529 shares and cash of $647 for each $1,000 note). The Company, in connection with this repurchase, recorded an extinguishment loss of $5.0 million, which included the write off of deferred financing fees of $0.3 million. The loss is included in other income (expense) in the Company's consolidated statements of operations.

In March 2011 the Company acquired $30.4 million of its 5.5% convertible senior notes in exchange for 4.5 million shares of its common stock with a fair value of $39.2 million and cash of $19.7 million (the note holders received 147.529 shares and cash of $647 for each $1,000 note). The Company, in connection with this repurchase, recorded an extinguishment loss of $30.1 million, which included the write off of deferred financing fees of $1.7 million. The loss is included in other income (expense) in the Company's consolidated statements of operations.

In September 2009 the Company issued, through a public offering, $57.5 million aggregate principal amount of 5.5% convertible senior notes, which were to mature on October 1, 2014. Under the terms of the offering, the note holders could convert each $1,000 principal amount of notes to 196.7052 shares of common stock (equivalent to an initial conversion price of $5.08 per share of common stock) on, or before, September 30, 2014. The conversion rate is subject to adjustment upon the occurrence of certain events which are described in the indenture dated September 16, 2009. The Company is not required to redeem the notes prior to their maturity. The net proceeds of this offering were approximately $54.9 million, which were used to reduce amounts outstanding under the Company's credit facility. As discussed above, $35.4 million aggregate principal amount of these notes were acquired by the Company during 2011.

In the first quarter of 2008 a capital lease agreement with Micron commenced for the U.S. nanoFab facility. Quarterly lease payments, which bore interest at 8%, were $3.8 million through January 2013. This lease was cancelled in the third fiscal quarter of 2009, at which time the Company and Micron (the lessor) entered into a new lease agreement for the facility. Under the provisions of the new lease agreement, quarterly lease payments were reduced from $3.8 million to $2.0 million, the term of the lease was extended from December 31, 2012 to December 31, 2014, and ownership of the property will not transfer to the Company at the end of the lease term. The interest rate of the new lease agreement remained at 8%. As a result of the new lease agreement, the Company reduced its lease obligation and the carrying value of its assets under capital leases by approximately $28 million. The Company paid the lease obligation in full with a portion of the net proceeds of the March 2011 issuance of its 3.25% convertible senior notes. The lease will be accounted for as an operating lease during the additional two years of the new lease term.

In April 2011 the Company entered into a five year, $21.2 million capital lease for manufacturing equipment. Payments under the lease, which bears interest at 3.09%, are $0.4 million per month through March 2016. The lease agreement provides that the Company must maintain the equipment in good working order, and includes a cross default with cross acceleration provision related to certain non-financial covenants incorporated in the Company's credit facility agreement. As of October 30, 2011, the total amount payable through the end of the lease term was $20.6 million, of which $19.2 million represented principal and $1.4 million represented interest.

In October 2007 the Company entered into a capital lease agreement in the amount of $19.9 million associated with certain equipment. Payments under the lease were $0.4 million per month over a five year term at a 5.6% interest rate. In April 2011 the Company used a portion of the net proceeds of the March 2011 issuance of its 3.25% convertible senior notes, to repay in full the $7.0 million outstanding balance of this lease. In connection with this repayment, the Company paid a $0.2 million prepayment penalty which was recorded as a debt extinguishment loss, included in other income (expense) in the Company's statements of operations.

In January 2010 the Company borrowed $3.7 million from a customer to purchase manufacturing equipment. This loan bears interest at 4.75% and is primarily being repaid with product supplied to the customer. Product valued at $1.1 million and $0.7 million was shipped to the customer and applied against the loan during 2011 and 2010, respectively. The Company estimates that the loan will be fully repaid in fiscal 2013.

Interest payments were $9.7 million, $7.8 million and $20.8 million in fiscal 2011, 2010 and 2009, respectively, including deferred financing cost payments of $4.3 million, $1.3 million and $6.5 million in fiscal 2011, 2010 and 2009, respectively.

COMMON STOCK WARRANTS	12 Months Ended
COMMON STOCK WARRANTS	Oct. 30, 2011
COMMON STOCK WARRANTS [Abstract]
COMMON STOCK WARRANTS	NOTE 8 - COMMON STOCK WARRANTS In September 2009 the Company entered into two warrant agreements with Intel Capital Corporation to purchase a total of 750,000 shares of the Company's common stock. Under one warrant agreement 500,000 shares of the Company's common stock can be purchased at an exercise price of $4.15 per share and under the second warrant agreement 250,000 shares of the Company's common stock can be purchased at an exercise price of $5.08 per share. The warrant agreements expire in September 2014. Also in September 2009, the Company and Intel Corporation entered into an agreement to share technical and operations information regarding the development of the Company's products, the capabilities of the Company's photomask manufacturing lines and the alignment of photomask toolsets. Intel Capital Corporation also invested in the Company's convertible debt offering of September 2009. The warrants were recorded at their fair value on their date of grant, which was determined using the Black-Scholes option pricing model. As of October 30, 2011, none of the warrants issued to Intel Capital Corporation had been exercised. In conjunction with a May 2009 amendment to its credit facility, the Company also entered into a warrant agreement with its lenders. See Note 6 for further discussion of these warrants.

OPERATING LEASES

12 Months Ended

Oct. 30, 2011

OPERATING LEASES [Abstract]

OPERATING LEASES

NOTE 9 - OPERATING LEASES

The Company leases various real estate and equipment under non-cancelable operating leases. Rental expense under such leases amounted to $2.9 million in fiscal years 2011 and 2010, and $3.6 million in fiscal year 2009. As discussed in Note 7, in fiscal 2009 the Company entered into a new lease agreement for the U.S. nanoFab, under which the lease was being accounted for as a capital lease through December 31, 2012 (the end date of its original lease term), and, thereafter, will be accounted for as an operating lease through its expiration on December 31, 2014. In 2011 the Company paid this capital lease obligation in full with a portion of the net proceeds of the March 2011 issuance of its 3.25% convertible senior notes.

At October 30, 2011, future minimum lease payments under non-cancelable operating leases with initial terms in excess of one year are as follows:

2012	$	2,206
2013		8,294
2014		8,506
2015		521
2016		489
Thereafter		873
	$	20,889

See Note 7 for disclosures related to the Company's capital lease obligations.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References+ Details

SHARE-BASED COMPENSATION

12 Months Ended

Oct. 30, 2011

SHARE-BASED COMPENSATION [Abstract]

SHARE-BASED COMPENSATION

NOTE 10 – SHARE-BASED COMPENSATION

In March 2007 the Company's shareholders approved a new share-based compensation plan ("Plan"), under which options, restricted stock, restricted stock units, stock appreciation rights, performance stock, performance units, and other awards based on, or related to, shares of the Company's common stock may be granted from shares authorized but unissued or shares previously issued and reacquired by the Company. The maximum number of shares of common stock approved by the Company's shareholders to be issued under the Plan was increased from 3.0 million shares to 6.0 million shares during the second quarter of fiscal 2010. Awards may be granted to officers, employees, directors, consultants, advisors, and independent contractors of the Company or its subsidiaries. In the event of a change in control (as defined in the Plan), the vesting of awards may be accelerated. The Plan, aspects of which are more fully described below, prohibits further awards from being issued under prior plans. The Company incurred total share-based compensation cost of $2.5 million, $1.9 million and $2.1 million in fiscal years 2011, 2010 and 2009, respectively. No share-based compensation cost was capitalized as part of inventory and no related income tax benefits were recorded during the fiscal years presented.

Stock Options

Option awards generally vest in one to four years, and have a ten year contractual term. All incentive and non-qualified stock option grants must have an exercise price no less than the market value of the underlying common stock on the date of grant. The grant date fair values of options are based on the closing prices of the Company's common stock on the date of grant using the Black-Scholes option pricing model. Expected volatility is based on the historical volatility of the Company's stock. The Company uses historical option exercise behavior and employee termination data to estimate expected term, which represents the period of time that the options granted are expected to remain outstanding. The risk-free rate of return for the estimated term of the option is based on the U.S. Treasury yield curve in effect at the date of grant. The weighted-average inputs and risk-free rate of return ranges used to calculate the grant date fair values of options issued during fiscal years 2011, 2010 and 2009 are presented in the following table:

	Year Ended
	October 30, 2011			October 31, 2010			November 1, 2009

Expected volatility		98.7	%		89.9	%		69.8	%

Risk-free rate of return		0.7 – 1.9	%		1.5 – 2.4	%		1.9 - 2.5	%

Dividend yield		0.0	%		0.0	%		0.0	%

Expected term	4.2 years			4.4 years			4.7 years

A summary of option activity under the Plan as of October 30, 2011, and changes during the year then ended is presented as follows:

Options	Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life		Aggregate Intrinsic Value

Outstanding at October 31, 2010		3,901,909		$	9.34
Granted		625,750			6.77
Exercised		(318,974	)		1.28
Cancelled and forfeited		(174,769	)		16.11
Outstanding at October 30, 2011		4,033,916		$	9.28		6.1 years	$	7,300
Exercisable at October 30, 2011		2,068,448		$	14.32		4.3 years	$	2,166
Expected to vest as of October 30, 2011		1,651,417		$	3.73		8.0 years