Tower Semiconductor Reports First Quarter 2022 Record revenue of $421 Million, a 21 Percent Year over Year Revenue Growth
|
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 |
| |
March 31, | |
December 31, | |
March 31, |
| |
2022 | |
2021 | |
2021 |
|
GAAP OPERATING PROFIT |
$ |
63,060 | |
$ |
55,863 | |
$ |
32,480 |
|
Depreciation |
64,368 | |
64,692 | |
56,624 |
|
Stock based compensation |
5,715 | |
8,815 | |
4,906 |
|
Amortization of acquired intangible assets |
506 | |
506 | |
491 |
|
EBITDA |
$ |
133,649 | |
$ |
129,876 | |
$ |
94,501 |
| | | | | | |
|
TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES |
|
CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED) |
|
(dollars in thousands) |
|
|
T h r e e m o n t h s e n d e d |
|
|
March 31,
|
|
December 31,
|
|
March 31,
|
|
|
2022
|
|
2021
|
|
2021
|
|
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD |
$ |
210,930 | |
|
$ |
211,503 | | |
$ |
211,683 | |
|
Net cash provided by operating activities |
136,571 | |
|
133,656 | |
|
87,413 | |
|
Investments in property and equipment, net |
(80,840 |
) |
|
(85,947 |
) |
|
(49,415 |
) |
|
Exercise of options |
44 | |
|
48 | |
|
364 | |
|
Debt received (repaid), net |
(30,539 |
) |
|
1,040 | |
|
(29,375 |
) |
|
Effect of Japanese Yen exchange rate change over cash balance |
(3,071 |
) |
|
(2,102 |
) |
|
(3,478 |
) |
|
Investments in short-term deposits, marketable securities and other assets, net |
(29,611 |
) |
|
(47,268 |
) |
|
(1,611 |
) |
|
CASH AND CASH EQUIVALENTS - END OF PERIOD |
$ |
203,484 | |
|
$ |
210,930 | |
|
$ |
215,581 | |
| | | | | | | | | |
