| TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | |||||||
| (dollars and share count in thousands, except per share data) | |||||||
| Six months ended | |||||||
| June 30, | |||||||
| 2019 | 2018 | ||||||
| REVENUES | $ | 616,171 | $ | 647,848 | |||
| COST OF REVENUES | 499,613 | 503,155 | |||||
| GROSS PROFIT | 116,558 | 144,693 | |||||
| OPERATING COSTS AND EXPENSES: | |||||||
| Research and development | 37,980 | 36,439 | |||||
| Marketing, general and administrative | 33,479 | 32,109 | |||||
| 71,459 | 68,548 | ||||||
| OPERATING PROFIT | 45,099 | 76,145 | |||||
| FINANCING AND OTHER INCOME (EXPENSE), NET | 1,672 | (9,222 | ) | ||||
| PROFIT BEFORE INCOME TAX | 46,771 | 66,923 | |||||
| INCOME TAX EXPENSE, NET | (649 | ) | (3,733 | ) | |||
| PROFIT BEFORE NON CONTROLLING INTEREST | 46,122 | 63,190 | |||||
| NON CONTROLLING INTEREST | 1,030 | 670 | |||||
| NET PROFIT | $ | 47,152 | $ | 63,860 | |||
| BASIC EARNINGS PER SHARE | $ | 0.45 | $ | 0.65 | |||
| Weighted average number of shares | 105,829 | 98,693 | |||||
| DILUTED EARNINGS PER SHARE | $ | 0.44 | $ | 0.63 | |||
| Net profit used for diluted earnings per share | $ | 47,152 | $ | 63,860 | |||
| Weighted average number of shares | 107,078 | 101,090 | |||||
| RECONCILIATION FROM GAAP NET PROFIT TO ADJUSTED NET PROFIT: | |||||||
| GAAP NET PROFIT: | $ | 47,152 | $ | 63,860 | |||
| Stock based compensation | 7,707 | 6,045 | |||||
| Amortization of acquired intangible assets | 2,135 | 3,313 | |||||
| ADJUSTED NET PROFIT | $ | 56,994 | $ | 73,218 | |||
| ADJUSTED EARNINGS PER SHARE: | |||||||
| Basic | $ | 0.54 | $ | 0.74 | |||
| Diluted | $ | 0.53 | $ | 0.72 | |||
TowerJazz Announces Second Quarter 2019 Results with Strong Organic Growth and Guides Third Quarter Revenue Increase with Continued Organic Growth
 |  | More IC News
|
|
RELATED NEWS
