| TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | |||||||||||
| (dollars and share count in thousands, except per share data) | |||||||||||
| Three months ended | |||||||||||
| September 30, | June 30, | September 30, | |||||||||
| 2018 | 2018 | 2017 | |||||||||
| REVENUES | $ | 322,596 | $ | 335,138 | $ | 354,557 | |||||
| COST OF REVENUES | 249,975 | 256,610 | 265,439 | ||||||||
| GROSS PROFIT | 72,621 | 78,528 | 89,118 | ||||||||
| OPERATING COSTS AND EXPENSES: | |||||||||||
| Research and development | 18,236 | 18,173 | 17,094 | ||||||||
| Marketing, general and administrative | 15,826 | 16,115 | 16,822 | ||||||||
| 34,062 | 34,288 | 33,916 | |||||||||
| OPERATING PROFIT | 38,559 | 44,240 | 55,202 | ||||||||
| FINANCING EXPENSE, NET | (2,497 | ) | (7,031 | ) | (4,042 | ) | |||||
| OTHER INCOME (EXPENSE), NET | -- | 1,578 | (253 | ) | |||||||
| PROFIT BEFORE INCOME TAX | 36,062 | 38,787 | 50,907 | ||||||||
| INCOME TAX BENEFIT (EXPENSE), NET | (2,388 | ) | (2,778 | ) | 3,334 | ||||||
| PROFIT BEFORE NON CONTROLLING INTEREST | 33,674 | 36,009 | 54,241 | ||||||||
| NON CONTROLLING INTEREST | (28 | ) | 1,733 | 1,033 | |||||||
| NET PROFIT | $ | 33,646 | $ | 37,742 | $ | 55,274 | |||||
| BASIC EARNINGS PER SHARE | $ | 0.34 | $ | 0.38 | $ | 0.56 | |||||
| Weighted average number of shares | 100,158 | 98,888 | 97,947 | ||||||||
| DILUTED EARNINGS PER SHARE | $ | 0.33 | $ | 0.37 | $ | 0.54 | |||||
| Net profit used for diluted earnings per share | $ | 33,646 | $ | 37,742 | $ | 57,519 | |||||
| Weighted average number of shares | 102,083 | 101,066 | 106,384 | ||||||||
TowerJazz Reports Revenues of $323 million with Net Profit of $34 million for the Third Quarter of 2018
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