Tower Semiconductor Reports Second Quarter 2021 Record Revenues; Guides Third Quarter Further Strong Revenue Growth
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TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |
|
RECONCILIATION FROM GAAP OPERATING PROFIT TO EBITDA (UNAUDITED) | |
|
(dollars in thousands) | |
| | | | | | | | | | |
| | | | | | | | | | |
| | | | |
Three months ended | |
| | | | |
June 30, | |
March 31, | |
June 30, | |
| | | | |
2021 | |
2021 | |
2020 | |
| | | | | | | | | | |
| | | | | | | | | | |
| | | | | | | | | | |
| |
GAAP OPERATING PROFIT |
$ |
34,003 |
$ |
32,480 |
$ |
22,127 | |
| | |
Depreciation of fixed assets | |
58,474 | |
56,624 | |
55,175 | |
| | |
Stock based compensation | |
5,971 | |
4,906 | |
3,795 | |
| | |
Amortization of acquired intangible assets | |
492 | |
491 | |
493 | |
| | | | | | | | | | |
| |
EBITDA |
$ |
98,940 |
$ |
94,501 |
$ |
81,590 | |
| | | | | | | | | | |
| | | | | | | | | | |
| | | | | | | | | | |
| | | | |
Six months ended | | | |
| | | | |
June 30, | |
June 30, | | | |
| | | | |
2021 | |
2020 | | | |
| | | | | | | | | | |
| |
GAAP OPERATING PROFIT |
$ |
66,483 |
$ |
38,565 | | | |
| | |
Depreciation of fixed assets | |
115,098 | |
106,659 | | | |
| | |
Stock based compensation | |
10,877 | |
8,338 | | | |
| | |
Amortization of acquired intangible assets | |
983 | |
803 | | | |
| | | | | | | | | | |
| |
EBITDA |
$ |
193,441 |
$ |
154,365 | | | |
| | | | | | | | | | |
