| TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | ||||||||
| RECONCILIATION FROM GAAP OPERATING PROFIT TO EBITDA (UNAUDITED) | ||||||||
| (dollars in thousands) | ||||||||
| T h r e e m o n t h s e n d e d | ||||||||
| December 31, | September 30, | December 31, | ||||||
| 2019 | 2019 | 2018 | ||||||
| EBITDA CALCULATION: | ||||||||
| GAAP OPERATING PROFIT | $ | 18,898 | $ | 22,719 | $ | 40,239 | ||
| Depreciation of fixed assets | 52,222 | 48,355 | 46,950 | |||||
| Stock based compensation | 3,066 | 3,775 | 3,906 | |||||
| Amortization of acquired intangible assets | 453 | 492 | 1,614 | |||||
|
EBITDA
| $ | 74,639 | $ | 75,341 | $ | 92,709 | ||
| Y e a r e n d e d | ||||||||
| December 31, | December 31, | |||||||
| 2019 | 2018 | |||||||
| GAAP OPERATING PROFIT | $ | 86,716 | $ | 154,943 | ||||
| Depreciation of fixed assets | 194,584 | 187,460 | ||||||
| Stock based compensation | 14,548 | 12,661 | ||||||
| Amortization of acquired intangible assets | 3,080 | 6,554 | ||||||
| EBITDA | $ | 298,928 | $ | 361,618 | ||||
TowerJazz Reports Full Year 2019 Results with 5% Organic Revenue Growth; Expects Revenue Growth for 2020
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