Tower Semiconductor Reports First Quarter 2021 Double Digit Year over Year Revenue Growth


TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES 
RECONCILIATION FROM GAAP OPERATING PROFIT TO EBITDA (UNAUDITED) 
(dollars in thousands) 
            
            
     Three months ended 
     March 31,   December 31,   March 31, 
     2021   2020   2020 
            
EBITDA CALCULATION:         
            
  GAAP OPERATING PROFIT $ 32,480  $ 33,379  $ 16,438 
   Depreciation of fixed assets   56,624   56,956     51,484  
    Stock based compensation   4,906     5,190     4,543  
    Amortization of acquired intangible assets   491     365     310  
                       
  EBITDA $ 94,501   $ 95,890   $ 72,775  
                       

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