TowerJazz Announces Third Quarter 2019 Results

| More IC News

TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(dollars and share count in thousands, except per share data)

Three months ended

September 30,

June 30,

September 30,

2019

2018

REVENUES

312,122

306,064

322,596

COST OF REVENUES

253,841

252,657

249,975

GROSS PROFIT

58,281

53,407

72,621

OPERATING COSTS AND EXPENSES:

Research and development

18,722

18,812

18,236

Marketing, general and administrative

16,840

16,838

15,826

35,562

35,650

34,062

OPERATING PROFIT

22,719

17,757

38,559

FINANCING AND OTHER INCOME (EXPENSE), NET

(426

)

947

(2,497

)

PROFIT BEFORE INCOME TAX

22,293

18,704

36,062

INCOME TAX BENEFIT (EXPENSE), NET

1,018

(2,388

)

PROFIT BEFORE NON CONTROLLING INTEREST

22,354

19,722

33,674

NON CONTROLLING INTEREST

(166

)

1,214

(28

)

NET PROFIT

22,188

20,936

33,646

BASIC EARNINGS PER SHARE

0.21

0.20

0.34

Weighted average number of shares

106,644

106,321

100,158

DILUTED EARNINGS PER SHARE

0.21

0.20

0.33

Net profit used for diluted earnings per share

22,188

20,936

33,646

Weighted average number of shares

107,601

107,178

102,083

RECONCILIATION FROM GAAP NET PROFIT TO ADJUSTED NET PROFIT:

GAAP NET PROFIT

22,188

20,936

33,646

Stock based compensation

3,775

3,884

2,710

Amortization of acquired intangible assets

492

494

1,627

ADJUSTED NET PROFIT

26,455

25,314

37,983

ADJUSTED EARNINGS PER SHARE:

Basic

0.25

0.24

0.38

Diluted

0.25

0.24

0.37

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 Next Page »