| TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | ||||||||||||||||
| UNAUDITED RECONCILIATION OF CERTAIN FINANCIAL DATA | ||||||||||||||||
| (dollars and share count in thousands, except per share data) | ||||||||||||||||
| T h r e e m o n t h s e n d e d | ||||||||||||||||
| December 31, | September 30, | December 31, | ||||||||||||||
| 2016 | 2016 | 2015 | ||||||||||||||
| RECONCILIATION FROM GAAP NET PROFIT TO ADJUSTED NET PROFIT: | ||||||||||||||||
| GAAP NET PROFIT | $ | 48,281 | $ | 51,213 | $ | 22,079 | ||||||||||
| Stock based compensation | 2,381 | 2,337 | 1,975 | |||||||||||||
| Amortization of acquired intangible assets | 2,777 | 2,367 | 2,374 | |||||||||||||
| Nishiwaki Fab restructuring and impairment cost (income), net | -- | -- | (991 | ) | ||||||||||||
| Financing expense, net associated with Bonds Series F accelerated conversion | -- | -- | 6,998 | |||||||||||||
| Income tax benefit, see (1) below | -- | (6,472 | ) | (6,389 | ) | |||||||||||
| ADJUSTED NET PROFIT | $ | 53,439 | $ | 49,445 | $ | 26,046 | ||||||||||
| ADJUSTED NET PROFIT PER SHARE: | ||||||||||||||||
| Basic | $ | 0.59 | $ | 0.56 | $ | 0.33 | ||||||||||
| Diluted | $ | 0.54 | $ | 0.51 | $ | 0.29 | ||||||||||
| Fully diluted, see (2) below | $ | 0.52 | $ | 0.48 | $ | 0.27 | ||||||||||
| ADJUSTED NET PROFIT USED TO CALCULATE PER SHARE DATA: | ||||||||||||||||
| Basic | $ | 53,439 | $ | 49,445 | $ | 26,046 | ||||||||||
| Diluted | $ | 55,555 | $ | 51,550 | $ | 26,472 | ||||||||||
| Fully diluted | $ | 55,555 | $ | 51,550 | $ | 28,440 | ||||||||||
| NUMBER OF SHARES AND OTHER SECURITIES USED TO CALCULATE PER SHARE DATA: | ||||||||||||||||
| Basic | 91,235 | 87,821 | 79,607 | |||||||||||||
| Diluted | 103,613 | 101,805 | 91,086 | |||||||||||||
| Fully diluted, see (2) below | 107,121 | 107,147 | 103,477 | |||||||||||||
| EBITDA CALCULATION: | ||||||||||||||||
| GAAP OPERATING PROFIT | $ | 55,202 | $ | 48,960 | $ | 34,339 | ||||||||||
| Cost of revenue: | ||||||||||||||||
| Depreciation of fixed assets | 44,874 | 43,110 | 37,841 | |||||||||||||
| Stock based compensation | 835 | 936 | 686 | |||||||||||||
| Amortization of acquired intangible assets | 2,589 | 2,180 | 2,186 | |||||||||||||
| Research and development: | ||||||||||||||||
| Stock based compensation | 557 | 501 | 519 | |||||||||||||
| Marketing, general and administrative: | ||||||||||||||||
| Stock based compensation | 989 | 900 | 770 | |||||||||||||
| Amortization of acquired intangible assets | 188 | 187 | 188 | |||||||||||||
| Nishiwaki Fab restructuring and impairment cost (income), net | -- | -- | (991 | ) | ||||||||||||
| EBITDA | $ | 105,234 | $ | 96,774 | $ | 75,538 | ||||||||||
| (1 | ) | Three months ended September 30, 2016 included income tax benefit in relation to TJP legal entity closure following Nishiwaki Fab cessation of operation announced in 2014; three months ended December 31, 2015 included income tax benefit due to Japanese income tax rate reduction. | ||||||||||||||
| (2 | ) | Fully diluted share count includes all issued and outstanding securities; outstanding ordinary share count as of December 31, 2016 is 92,985. | ||||||||||||||
TowerJazz Reports Best Results in the History of the Company
 |  | More IC News
|
|
RELATED NEWS
