| 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 | ||||||||||||||
| September 30, | September 30, | June 30, | ||||||||||||
| 2017 | 2016 | 2017 | ||||||||||||
| RECONCILIATION FROM GAAP NET PROFIT TO ADJUSTED NET PROFIT: | ||||||||||||||
| GAAP NET PROFIT | $ | 55,274 | $ | 51,213 | $ | 50,017 | ||||||||
| Stock based compensation | 3,750 | 2,337 | 2,319 | |||||||||||
| Amortization of acquired intangible assets | 2,161 | 2,367 | 2,246 | |||||||||||
| Income tax benefit in relation to Nishiwaki closure | -- | (6,472 | ) | -- | ||||||||||
| ADJUSTED NET PROFIT | $ | 61,185 | $ | 49,445 | $ | 54,582 | ||||||||
| ADJUSTED NET PROFIT PER SHARE : | ||||||||||||||
| Basic | $ | 0.62 | $ | 0.56 | $ | 0.57 | ||||||||
| Diluted | $ | 0.60 | $ | 0.51 | $ | 0.54 | ||||||||
| Fully diluted | $ | 0.59 | $ | 0.48 | $ | 0.53 | ||||||||
| ADJUSTED NET PROFIT USED TO CALCULATE PER SHARE DATA: | ||||||||||||||
| Basic | $ | 61,185 | $ | 49,445 | $ | 54,582 | ||||||||
| Diluted | $ | 63,430 | $ | 51,550 | $ | 56,782 | ||||||||
| Fully diluted | $ | 63,430 | $ | 51,550 | $ | 56,782 | ||||||||
| NUMBER OF SHARES AND OTHER SECURITIES USED TO CALCULATE PER SHARE DATA: | ||||||||||||||
| Basic | 97,947 | 87,821 | 96,365 | |||||||||||
| Diluted | 106,384 | 101,805 | 105,648 | |||||||||||
| Fully diluted | 107,729 | 107,147 | 107,375 | |||||||||||
| EBITDA CALCULATION: | ||||||||||||||
| GAAP OPERATING PROFIT | $ | 55,202 | $ | 48,960 | $ | 57,391 | ||||||||
| Depreciation of fixed assets | 47,544 | 43,110 | 46,360 | |||||||||||
| Stock based compensation | 3,750 | 2,337 | 2,319 | |||||||||||
| Amortization of acquired intangible assets | 2,161 | 2,367 | 2,246 | |||||||||||
| EBITDA | $ | 108,657 | $ | 96,774 | $ | 108,316 | ||||||||
TowerJazz Reports Increase in Net Profit
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