| TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | ||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | ||||||||||||||
| (dollars and share count in thousands, except per share data) | ||||||||||||||
| S i x m o n t h s e n d e d | ||||||||||||||
| June 30, | ||||||||||||||
| 2018 | 2017 | |||||||||||||
| REVENUES | $ | 647,848 | $ | 675,139 | ||||||||||
| COST OF REVENUES | 503,155 | 499,310 | ||||||||||||
| GROSS PROFIT | 144,693 | 175,829 | ||||||||||||
| OPERATING COSTS AND EXPENSES: | ||||||||||||||
| Research and development | 36,439 | 32,200 | ||||||||||||
| Marketing, general and administrative | 32,109 | 33,475 | ||||||||||||
| 68,548 | 65,675 | |||||||||||||
| OPERATING PROFIT | 76,145 | 110,154 | ||||||||||||
| FINANCING EXPENSE, NET | (10,822 | ) | (7,352 | ) | ||||||||||
| OTHER INCOME, NET | 1,600 | 653 | ||||||||||||
| PROFIT BEFORE INCOME TAX | 66,923 | 103,455 | ||||||||||||
| INCOME TAX EXPENSE, NET | (3,733 | ) | (4,682 | ) | ||||||||||
| PROFIT BEFORE NON CONTROLLING INTEREST | 63,190 | 98,773 | ||||||||||||
| NON CONTROLLING INTEREST | 670 | (3,247 | ) | |||||||||||
| NET PROFIT | $ | 63,860 | $ | 95,526 | ||||||||||
| BASIC EARNINGS PER SHARE | $ | 0.65 | $ | 1.00 | ||||||||||
| Weighted average number of shares | 98,693 | 95,139 | ||||||||||||
| DILUTED EARNINGS PER SHARE | $ | 0.63 | $ | 0.95 | ||||||||||
| Net profit used for diluted earnings per share | $ | 63,860 | $ | 99,883 | ||||||||||
| Weighted average number of shares | 101,090 | 105,288 | ||||||||||||
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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