| 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 | |||||||||||||||||
| September 30, | September 30, | June 30, | |||||||||||||||
| 2017 | 2016 | 2017 | |||||||||||||||
| REVENUES | $ | 354,557 | $ | 326,209 | $ | 345,059 | |||||||||||
| COST OF REVENUES | 265,439 | 244,915 | 253,998 | ||||||||||||||
| GROSS PROFIT | 89,118 | 81,294 | 91,061 | ||||||||||||||
| OPERATING COSTS AND EXPENSES: | |||||||||||||||||
| Research and development | 17,094 | 15,547 | 16,432 | ||||||||||||||
| Marketing, general and administrative | 16,822 | 16,787 | 17,238 | ||||||||||||||
| 33,916 | 32,334 | 33,670 | |||||||||||||||
| OPERATING PROFIT | 55,202 | 48,960 | 57,391 | ||||||||||||||
| INTEREST EXPENSE, NET | (1,776 | ) | (3,272 | ) | (2,070 | ) | |||||||||||
| OTHER FINANCING EXPENSE, NET | (2,266 | ) | (2,210 | ) | (1,053 | ) | |||||||||||
| OTHER INCOME (EXPENSE), NET | (253 | ) | 5,081 | 142 | |||||||||||||
| PROFIT BEFORE INCOME TAX | 50,907 | 48,559 | 54,410 | ||||||||||||||
| INCOME TAX BENEFIT (EXPENSE) | 3,334 | 3,459 | (2,683 | ) | |||||||||||||
| PROFIT BEFORE NON CONTROLLING INTEREST | 54,241 | 52,018 | 51,727 | ||||||||||||||
| NON CONTROLLING INTEREST | 1,033 | (805 | ) | (1,710 | ) | ||||||||||||
| NET PROFIT | $ | 55,274 | $ | 51,213 | $ | 50,017 | |||||||||||
| BASIC EARNINGS PER SHARE | $ | 0.56 | $ | 0.58 | $ | 0.52 | |||||||||||
| Weighted average number of shares | 97,947 | 87,821 | 96,365 | ||||||||||||||
| DILUTED EARNINGS PER SHARE | $ | 0.54 | $ | 0.52 | $ | 0.49 | |||||||||||
| Net profit used for diluted earnings per share | $ | 57,519 | $ | 53,318 | $ | 52,217 | |||||||||||
| Weighted average number of shares | 106,384 | 101,805 | 105,648 | ||||||||||||||
TowerJazz Reports Increase in Net Profit
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