| TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |||||||||||||
| RECONCILIATION FROM GAAP OPERATING PROFIT TO EBITDA (UNAUDITED) | |||||||||||||
| (dollars in thousands) | |||||||||||||
| EBITDA CALCULATION: | |||||||||||||
| Three months ended | |||||||||||||
| June 30, | March 31, | June 30, | |||||||||||
| 2020 | 2020 | 2019 | |||||||||||
| GAAP OPERATING PROFIT | $ | 22,127 | $ | 16,438 | $ | 17,757 | |||||||
| Depreciation of fixed assets | 55,175 | 51,484 | 47,966 | ||||||||||
| Stock based compensation | 3,795 | 4,543 | 3,884 | ||||||||||
| Amortization of acquired intangible assets | 493 | 310 | 494 | ||||||||||
| EBITDA | $ | 81,590 | $ | 72,775 | $ | 70,101 | |||||||
|
Six months ended
| |||||||||||||
| June 30, | June 30, | ||||||||||||
| 2020 | 2019 | ||||||||||||
| GAAP OPERATING PROFIT | $ | 38,565 | $ | 45,099 | |||||||||
| Depreciation of fixed assets | 106,659 | 94,007 | |||||||||||
| Stock based compensation | 8,338 | 7,707 | |||||||||||
| Amortization of acquired intangible assets | 803 | 2,135 | |||||||||||
| EBITDA | $ | 154,365 | $ | 148,948 | |||||||||
Tower Semiconductor Reports Second Quarter 2020 with Quarter over Quarter Revenues and Margins Growth
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