TowerJazz Reports Increase in Net Profit
|
TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | | |
UNAUDITED RECONCILIATION OF CERTAIN FINANCIAL DATA
| | |
(dollars and share count in thousands, except per share data) | | | | | | | | | | | | | | | | | | | | | | | | | |
T h r e e
m o n t h s
e n d e d | | | | | | | | | | |
September 30, | |
September 30, | |
June 30, | | | | | | | | | | |
2017 | |
2016 | | |
2017 | | | | | | | | | | | | | | | | | |
RECONCILIATION FROM GAAP NET PROFIT TO ADJUSTED NET PROFIT: | | | | | | | | | | | | | | | | | | | | | | | | | |
GAAP NET PROFIT | |
$ |
55,274 |
$ |
51,213 | |
$ |
50,017 | | | | |
Stock based compensation
| | |
3,750 | |
2,337 | | |
2,319 | | | | |
Amortization of acquired intangible assets
| | |
2,161 | |
2,367 | | |
2,246 | | | | |
Income tax benefit in relation to Nishiwaki closure | | |
--
| |
(6,472 |
) | |
--
| | | | | | | | | | | | | | | | | | |
ADJUSTED NET PROFIT | |
$ |
61,185 |
$ |
49,445 | |
$ |
54,582 | | | | | | | | | | | | | | | | | | |
ADJUSTED NET PROFIT PER SHARE
: | | | | | | | | | | | |
Basic | | |
$ |
0.62 |
$ |
0.56 | |
$ |
0.57 | | | | |
Diluted | | |
$ |
0.60 |
$ |
0.51 | |
$ |
0.54 | | | | |
Fully diluted | |
$ |
0.59 |
$ |
0.48 | |
$ |
0.53 | | | | | | | | | | | | | | | | | | |
ADJUSTED NET PROFIT USED TO CALCULATE PER SHARE DATA: | | | | | | | | | | | |
Basic | | |
$ |
61,185 |
$ |
49,445 | |
$ |
54,582 | | | | |
Diluted | | |
$ |
63,430 |
$ |
51,550 | |
$ |
56,782 | | | | |
Fully diluted | |
$ |
63,430 |
$ |
51,550 | |
$ |
56,782 | | | | | | | | | | | | | | | | | | |
NUMBER OF SHARES AND OTHER SECURITIES USED TO CALCULATE PER SHARE DATA: | | | | | | | | |
Basic | | | |
97,947 | |
87,821 | | |
96,365 | | | | |
Diluted | | | |
106,384 | |
101,805 | | |
105,648 | | | | |
Fully diluted | | |
107,729 | |
107,147 | | |
107,375 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
EBITDA CALCULATION: | | | | | | | | | | | | | | | | | | | | | | | | | |
GAAP OPERATING PROFIT
| |
$ |
55,202 |
$ |
48,960 | |
$ |
57,391 | | | | | |
Depreciation of fixed assets
| | |
47,544 | |
43,110 | | |
46,360 | | | | | |
Stock based compensation | | |
3,750 | |
2,337 | | |
2,319 | | | | | |
Amortization of acquired intangible assets | | |
2,161 | |
2,367 | | |
2,246 | | | | | | | | | | | | | | | | | | |
EBITDA | | |
$ |
108,657 |
$ |
96,774 | |
$ |
108,316 | | | | | | | | | | | | | | | | |
|
