| TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | ||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | ||||||
| (dollars and share count in thousands, except per share data) | ||||||
| Three months ended | ||||||
| June 30, | March 31, | June 30, | ||||
| 2022 | 2022 | 2021 | ||||
| REVENUES | $ 426,168 | $ 421,132 | $ 362,138 | |||
| COST OF REVENUES | 313,728 | 316,501 | 288,383 | |||
| GROSS PROFIT | 112,440 | 104,631 | 73,755 | |||
| OPERATING COSTS AND EXPENSES: | ||||||
| Research and development | 20,481 | 20,318 | 21,081 | |||
| Marketing, general and administrative | 21,285 | 21,253 | 18,671 | |||
| 41,766 | 41,571 | 39,752 | ||||
| OPERATING PROFIT | 70,674 | 63,060 | 34,003 | |||
| FINANCING AND OTHER EXPENSE, NET | (8,162) | (2,133) | (484) | |||
| PROFIT BEFORE INCOME TAX | 62,512 | 60,927 | 33,519 | |||
| INCOME TAX EXPENSE, NET | (4,339) | (5,153) | (2,202) | |||
| NET PROFIT | 58,173 | 55,774 | 31,317 | |||
| Net income attributable to non-controlling interest | (96) | (1,741) | (451) | |||
| NET PROFIT ATTRIBUTABLE TO THE COMPANY | $ 58,077 | $ 54,033 | $ 30,866 | |||
| BASIC EARNINGS PER SHARE | $ 0.53 | $ 0.50 | $ 0.29 | |||
| Weighted average number of shares | 109,138 | 108,934 | 108,043 | |||
| DILUTED EARNINGS PER SHARE | $ 0.53 | $ 0.49 | $ 0.28 | |||
| Weighted average number of shares | 110,561 | 110,539 | 109,629 | |||
Tower Semiconductor Reports Second Quarter 2022 Record Revenue of $426 Million Year over Year Revenue Growth of 18% Total and 30% Organic
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