| TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | ||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | ||||||||||||||||
| (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 | ||||||||||||||||
| June 30, | March 31, | June 30, | ||||||||||||||
|
2017
|
2017
|
2016
| ||||||||||||||
| REVENUES | $ | 345,059 | $ | 330,080 | $ | 305,003 | ||||||||||
| COST OF REVENUES | 253,998 | 245,312 | 232,275 | |||||||||||||
| GROSS PROFIT | 91,061 | 84,768 | 72,728 | |||||||||||||
| OPERATING COSTS AND EXPENSES: | ||||||||||||||||
| Research and development | 16,432 | 15,768 | 16,030 | |||||||||||||
| Marketing, general and administrative | 17,238 | 16,237 | 16,520 | |||||||||||||
| 33,670 | 32,005 | 32,550 | ||||||||||||||
| OPERATING PROFIT | 57,391 | 52,763 | 40,178 | |||||||||||||
| INTEREST EXPENSE, NET | (2,070 | ) | (2,211 | ) | (2,997 | ) | ||||||||||
| OTHER FINANCING EXPENSE, NET | (1,053 | ) | (2,018 | ) | (7,528 | ) | (a) | |||||||||
| GAIN FROM ACQUISITION, NET | -- | -- | 10,158 | (a) | ||||||||||||
| OTHER INCOME, NET | 142 | 511 | 4,362 | |||||||||||||
| PROFIT BEFORE INCOME TAX | 54,410 | 49,045 | 44,173 | (a) | ||||||||||||
| INCOME TAX EXPENSE | (2,683 | ) | (1,999 | ) | (3,826 | ) | ||||||||||
| PROFIT BEFORE NON CONTROLLING INTEREST | 51,727 | 47,046 | 40,347 | (a) | ||||||||||||
| NON CONTROLLING INTEREST | (1,710 | ) | (1,537 | ) | (1,861 | ) | ||||||||||
| NET PROFIT | $ | 50,017 | $ | 45,509 | $ | 38,486 | (a) | |||||||||
| BASIC EARNINGS PER SHARE | $ | 0.52 | $ | 0.48 | $ | 0.45 | (a) | |||||||||
| Weighted average number of shares | 96,365 | 93,900 | 86,300 | |||||||||||||
| DILUTED EARNINGS PER SHARE | $ | 0.49 | $ | 0.45 | $ | 0.40 | (a) | |||||||||
| Net profit used for diluted earnings per share | $ | 52,217 | $ | 47,666 | $ | 40,556 | (a) | |||||||||
| Weighted average number of shares | 105,648 | 104,915 | 100,163 | |||||||||||||
| (a) | Three months ended June 30, 2016 included $10,158 net gain from acquisition of TJT and $6,653 financing cost resulted from banks loans early repayment. | |||||||||||||||
TowerJazz Announces Records in Revenues, Margins, EBITDA and Free Cash Flow for the Second Quarter and First Half of 2017
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