| TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | ||||||||
| RECONCILIATION OF CERTAIN FINANCIAL DATA (UNAUDITED) | ||||||||
| (dollars and share count in thousands, except per share data) | ||||||||
| Three months ended | ||||||||
| September 30, | June 30, | September 30, | ||||||
| 2018 | 2018 | 2017 | ||||||
| RECONCILIATION FROM GAAP NET PROFIT TO ADJUSTED NET PROFIT: | ||||||||
| GAAP NET PROFIT | $ | 33,646 | $ | 37,742 | $ | 55,274 | ||
| Stock based compensation | 2,710 | 2,678 | 3,750 | |||||
| Amortization of acquired intangible assets | 1,627 | 1,652 | 2,161 | |||||
| ADJUSTED NET PROFIT | $ | 37,983 | $ | 42,072 | $ | 61,185 | ||
| ADJUSTED NET PROFIT PER SHARE : | ||||||||
| Basic | $ | 0.38 | $ | 0.43 | $ | 0.62 | ||
| Diluted | $ | 0.37 | $ | 0.42 | $ | 0.60 | ||
| Fully diluted | $ | 0.37 | $ | 0.41 | $ | 0.59 | ||
| ADJUSTED NET PROFIT USED TO CALCULATE PER SHARE DATA: | ||||||||
| Basic | $ | 37,983 | $ | 42,072 | $ | 61,185 | ||
| Diluted | $ | 37,983 | $ | 44,463 | $ | 63,430 | ||
| Fully diluted | $ | 40,149 | $ | 44,463 | $ | 63,430 | ||
| NUMBER OF SHARES AND OTHER SECURITIES USED TO CALCULATE PER SHARE DATA: | ||||||||
| Basic | 100,158 | 98,888 | 97,947 | |||||
| Diluted | 102,083 | 106,856 | 106,384 | |||||
| Fully diluted | 108,146 | 107,880 | 107,729 | |||||
| EBITDA CALCULATION: | ||||||||
| GAAP OPERATING PROFIT | $ | 38,559 | $ | 44,240 | $ | 55,202 | ||
| Depreciation of fixed assets | 46,172 | 46,978 | 47,544 | |||||
| Stock based compensation | 2,710 | 2,678 | 3,750 | |||||
| Amortization of acquired intangible assets | 1,627 | 1,652 | 2,161 | |||||
| EBITDA | $ | 89,068 | $ | 95,548 | $ | 108,657 | ||
TowerJazz Reports Revenues of $323 million with Net Profit of $34 million for the Third Quarter of 2018
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