| TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |||||||||||||
| RECONCILIATION OF CERTAIN FINANCIAL DATA (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, | |||||||||||
| 2018 | 2018 | 2017 | |||||||||||
| RECONCILIATION FROM GAAP NET PROFIT TO ADJUSTED NET PROFIT: | |||||||||||||
| GAAP NET PROFIT | $ | 37,742 | $ | 26,118 | $ | 50,017 | |||||||
| Stock based compensation | 2,678 | 3,367 | 2,319 | ||||||||||
| Amortization of acquired intangible assets | 1,652 | 1,661 | 2,246 | ||||||||||
| ADJUSTED NET PROFIT | $ | 42,072 | $ | 31,146 | $ | 54,582 | |||||||
| ADJUSTED NET PROFIT PER SHARE : | |||||||||||||
| Basic | $ | 0.43 | $ | 0.32 | $ | 0.57 | |||||||
| Diluted | $ | 0.42 | $ | 0.31 | $ | 0.54 | |||||||
| Fully diluted | $ | 0.41 | $ | 0.31 | $ | 0.53 | |||||||
| ADJUSTED NET PROFIT USED TO CALCULATE PER SHARE DATA: | |||||||||||||
| Basic | $ | 42,072 | $ | 31,146 | $ | 54,582 | |||||||
| Diluted | $ | 44,463 | $ | 31,146 | $ | 56,782 | |||||||
| Fully diluted | $ | 44,463 | $ | 33,486 | $ | 56,782 | |||||||
| NUMBER OF SHARES AND OTHER SECURITIES USED TO CALCULATE PER SHARE DATA: | |||||||||||||
| Basic | 98,888 | 98,495 | 96,365 | ||||||||||
| Diluted | 106,856 | 101,112 | 105,648 | ||||||||||
| Fully diluted | 107,880 | 107,717 | 107,375 | ||||||||||
| EBITDA CALCULATION: | |||||||||||||
| GAAP OPERATING PROFIT | $ | 44,240 | $ | 31,905 | $ | 57,391 | |||||||
| Depreciation of fixed assets | 46,978 | 47,357 | 46,360 | ||||||||||
| Stock based compensation | 2,678 | 3,367 | 2,319 | ||||||||||
| Amortization of acquired intangible assets | 1,652 | 1,661 | 2,246 | ||||||||||
| EBITDA | $ | 95,548 | $ | 84,290 | $ | 108,316 | |||||||
TowerJazz Reports Results for the Second Quarter of 2018: Revenue of $335 million with Strong Increases in Net Profit and Profit Margins over Prior Quarter
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