| TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |||||||||||||
| RECONCILIATION OF CERTAIN FINANCIAL DATA (UNAUDITED) | |||||||||||||
| (dollars and share count in thousands, except per share data) | |||||||||||||
| Three months ended | |||||||||||||
| March 31, | December 31, | March 31, | |||||||||||
| 2018 |
2017
| 2017 | |||||||||||
| RECONCILIATION FROM GAAP NET PROFIT TO ADJUSTED NET PROFIT: | |||||||||||||
|
GAAP NET PROFIT
| $ | 26,118 | $ | 147,211 | $ | 45,509 | |||||||
| Stock based compensation | 3,367 | 3,481 | 2,098 | ||||||||||
| Amortization of acquired intangible assets | 1,661 | 1,564 | 2,336 | ||||||||||
| Non-recurring items related to long term investments | -- | 3,009 | -- | ||||||||||
| Income tax benefit resulted from Israeli deferred tax asset realization following valuation allowance release, see (a) above | -- | (82,370 | ) | -- | |||||||||
| Income tax benefit related to U.S. tax reform, see (a) above | -- | (12,970 | ) | -- | |||||||||
| ADJUSTED NET PROFIT | $ | 31,146 | $ | 59,925 | $ | 49,943 | |||||||
| ADJUSTED NET PROFIT PER SHARE : | |||||||||||||
|
Basic
| $ | 0.32 | $ | 0.61 | $ | 0.53 | |||||||
|
Diluted
| $ | 0.31 | $ | 0.58 | $ | 0.50 | |||||||
|
Fully diluted
| $ | 0.31 | $ | 0.58 | $ | 0.49 | |||||||
| ADJUSTED NET PROFIT USED TO CALCULATE PER SHARE DATA: | |||||||||||||
|
Basic
| $ | 31,146 | $ | 59,925 | $ | 49,943 | |||||||
|
Diluted
| $ | 31,146 | $ | 62,216 | $ | 52,100 | |||||||
|
Fully diluted
| $ | 33,486 | $ | 62,216 | $ | 52,100 | |||||||
| NUMBER OF SHARES AND OTHER SECURITIES USED TO CALCULATE PER SHARE DATA: | |||||||||||||
|
Basic
| 98,495 | 98,312 | 93,900 | ||||||||||
|
Diluted
| 101,112 | 106,776 | 104,915 | ||||||||||
|
Fully diluted
| 107,717 | 107,721 | 107,245 | ||||||||||
| EBITDA CALCULATION: | |||||||||||||
| GAAP OPERATING PROFIT | $ | 31,905 | $ | 54,486 | $ | 52,763 | |||||||
| Depreciation of fixed assets | 47,357 | 47,741 | 43,819 | ||||||||||
| Stock based compensation | 3,367 | 3,481 | 2,098 | ||||||||||
| Amortization of acquired intangible assets | 1,661 | 1,564 | 2,336 | ||||||||||
|
EBITDA
| $ | 84,290 | $ | 107,272 | $ | 101,016 | |||||||
TowerJazz Reports Results for the First Quarter of 2018 and Second Quarter Guidance Growth
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