Tower Semiconductor Reports Second Quarter 2022 Record Revenue of $426 Million Year over Year Revenue Growth of 18% Total and 30% Organic
|
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, | |
| | | | | | |
2022 | |
2022 | |
2021 | |
|
GAAP OPERATING PROFIT |
$ 70,674 | |
$ 63,060 | |
$ 34,003 | |
|
Depreciation | |
60,886 | |
64,368 | |
58,474 | |
|
Stock based compensation |
5,543 | |
5,715 | |
5,971 | |
|
Amortization of acquired intangible assets | | | | | |
508 | |
506 | |
492 | |
|
EBITDA | | |
$ 137,611 | |
$ 133,649 | |
$ 98,940 | |
| | | | | | | | | | | | |
|
TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |
|
CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED) | |
|
(dollars in thousands) | |
| |
Three months ended | |
| |
June 30, | |
March 31, | |
June 30, | |
| |
2022 | |
2022 | |
2021 | |
|
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD |
$ 203,484 | |
$ 210,930 | |
$ 215,581 | |
|
Net cash provided by operating activities |
138,097 | |
136,571 | |
93,250 | |
|
Investments in property and equipment, net |
(49,377) | |
(80,840) | |
(56,184) | |
|
Exercise of options |
-- | |
44 | |
-- | |
|
Debt repaid, net |
(8,211) | |
(30,539) | |
(19,769) | |
|
Effect of Japanese Yen exchange rate change over cash balance |
(7,682) | |
(3,071) | |
(68) | |
|
Investments in short-term deposits, marketable securities and other assets, net |
(65,134) | |
(29,611) | |
(17,055) | |
|
CASH AND CASH EQUIVALENTS - END OF PERIOD |
$ 211,177 | |
$ 203,484 | |
$ 215,755 | |
