| TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | ||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | ||||||||
| (dollars and share count in thousands, except per share data) | ||||||||
| Nine months ended | ||||||||
| September 30, | ||||||||
| 2018 | 2017 | |||||||
| REVENUES | $ | 970,444 | $ | 1,029,696 | ||||
| COST OF REVENUES | 753,130 | 764,749 | ||||||
| GROSS PROFIT | 217,314 | 264,947 | ||||||
| OPERATING COSTS AND EXPENSES: | ||||||||
| Research and development | 54,675 | 49,294 | ||||||
| Marketing, general and administrative | 47,935 | 50,297 | ||||||
| 102,610 | 99,591 | |||||||
| OPERATING PROFIT | 114,704 | 165,356 | ||||||
| FINANCING EXPENSE, NET | (13,283 | ) | (11,394 | ) | ||||
| OTHER INCOME, NET | 1,564 | 400 | ||||||
| PROFIT BEFORE INCOME TAX | 102,985 | 154,362 | ||||||
| INCOME TAX EXPENSE, NET | (6,121 | ) | (1,348 | ) | ||||
| PROFIT BEFORE NON CONTROLLING INTEREST | 96,864 | 153,014 | ||||||
| NON CONTROLLING INTEREST | 642 | (2,214 | ) | |||||
| NET PROFIT | $ | 97,506 | $ | 150,800 | ||||
| BASIC EARNINGS PER SHARE | $ | 0.98 | $ | 1.57 | ||||
| Weighted average number of shares | 99,186 | 96,085 | ||||||
| DILUTED EARNINGS PER SHARE | $ | 0.96 | $ | 1.49 | ||||
| Net profit used for diluted earnings per share | $ | 97,506 | $ | 157,403 | ||||
| Weighted average number of shares | 101,424 | 105,664 | ||||||
TowerJazz Reports Revenues of $323 million with Net Profit of $34 million for the Third Quarter of 2018
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