TowerJazz Reports Revenues of $323 million with Net Profit of $34 million for the Third Quarter of 2018
| | | | |
TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | |
(dollars and share count in thousands, except per share data) | | | | | | | | | | | | | | | | | | | | | | | | | |
Three
months
ended | | | | | |
September 30, | |
June 30, | |
September 30, | | | | | |
2018 | |
2018 | |
2017 | | | | | | | | | | | |
REVENUES |
$ |
322,596 | |
$ |
335,138 | |
$ |
354,557 | | | | | | | | | | | | |
COST OF REVENUES | |
249,975 | | |
256,610 | | |
265,439 | | | | | | |
| |
| |
| | | |
GROSS PROFIT | |
72,621 | | |
78,528 | | |
89,118 | | | | | | | | | | | | |
OPERATING COSTS AND EXPENSES: | | | | | | | | | | | | | | | | | | |
Research and development | |
18,236 | | |
18,173 | | |
17,094 | | | |
Marketing, general and administrative | |
15,826 | | |
16,115 | | |
16,822 | | | | | | |
| |
| |
| | | | | |
34,062 | | |
34,288 | | |
33,916 | | | | | | |
| |
| |
| | | | | | | | | | | | | |
OPERATING PROFIT | |
38,559 | | |
44,240 | | |
55,202 | | | | | | | | | | | | |
FINANCING EXPENSE, NET | |
(2,497 |
) | |
(7,031 |
) | |
(4,042 |
) | | | | | | | | | | | |
OTHER INCOME (EXPENSE), NET | |
--
| | |
1,578 | | |
(253 |
) | | | | | |
| |
| |
| | | |
PROFIT BEFORE INCOME TAX | |
36,062 | | |
38,787 | | |
50,907 | | | | | | | | | | | | |
INCOME TAX BENEFIT (EXPENSE), NET | |
(2,388 |
) | |
(2,778 |
) | |
3,334 | | | | | | | | | | | | | | |
PROFIT BEFORE NON CONTROLLING INTEREST
| |
33,674 | | |
36,009 | | |
54,241 | | | | | | | | | | | | |
NON CONTROLLING INTEREST | |
(28 |
) | |
1,733 | | |
1,033 | | | | | | |
| |
| |
| | | |
NET PROFIT |
$ |
33,646 | |
$ |
37,742 | |
$ |
55,274 | | | | | | | | | | | | | | | | | | | | | | |
BASIC EARNINGS
PER SHARE |
$ |
0.34 | |
$ |
0.38 | |
$ |
0.56 | | | | | | | | | | | | |
Weighted average number of shares | |
100,158 | | |
98,888 | | |
97,947 | | | | | | | | | | | | | | | | | | | | | | |
DILUTED EARNINGS PER SHARE |
$ |
0.33 | |
$ |
0.37 | |
$ |
0.54 | | | | | | | | | | | | |
Net profit used for diluted earnings per share |
$ |
33,646 | |
$ |
37,742 | |
$ |
57,519 | | | | | | | | | | | | |
Weighted average number of shares | |
102,083 | | |
101,066 | | |
106,384 | | | | | | | | | | | |
|
