TowerJazz Reports Revenues of $323 million with Net Profit of $34 million for the Third Quarter of 2018
| | | | |
TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |
RECONCILIATION OF CERTAIN FINANCIAL DATA (UNAUDITED) | |
(dollars and share count in thousands, except per share data) | | | | | | | | | | | | | | | |
Three
months
ended | | | | | |
September 30, | |
June 30, | |
September 30, | | | | | |
2018 | |
2018 | |
2017 | | | | | | | | | | | |
RECONCILIATION FROM GAAP NET PROFIT TO ADJUSTED NET PROFIT: | | | | | | | | | | | | | | |
GAAP NET PROFIT |
$ |
33,646 |
$ |
37,742 |
$ |
55,274 | | | |
Stock based compensation
| |
2,710 | |
2,678 | |
3,750 | | | |
Amortization of acquired intangible assets
| |
1,627 | |
1,652 | |
2,161 | | | | | | | | | | | | |
ADJUSTED NET PROFIT |
$ |
37,983 |
$ |
42,072 |
$ |
61,185 | | | | | | | | | | | | | | | | | | | | | | |
ADJUSTED NET PROFIT PER SHARE
: | | | | | | | | | |
Basic |
$ |
0.38 |
$ |
0.43 |
$ |
0.62 | | | |
Diluted |
$ |
0.37 |
$ |
0.42 |
$ |
0.60 | | | |
Fully diluted |
$ |
0.37 |
$ |
0.41 |
$ |
0.59 | | | | | | | | | | | | |
ADJUSTED NET PROFIT USED TO CALCULATE PER SHARE DATA: | | | | | |
Basic |
$ |
37,983 |
$ |
42,072 |
$ |
61,185 | | | |
Diluted |
$ |
37,983 |
$ |
44,463 |
$ |
63,430 | | | |
Fully diluted |
$ |
40,149 |
$ |
44,463 |
$ |
63,430 | | | | | | | | | | | | |
NUMBER OF SHARES AND OTHER SECURITIES USED TO CALCULATE PER SHARE DATA: | | | |
Basic | |
100,158 | |
98,888 | |
97,947 | | | |
Diluted | |
102,083 | |
106,856 | |
106,384 | | | |
Fully diluted | |
108,146 | |
107,880 | |
107,729 | | | | | | | | | | | | | | | | | | | | | |
EBITDA CALCULATION: | | | | | | | | | | | | | | | | | | |
GAAP OPERATING PROFIT
|
$ |
38,559 |
$ |
44,240 |
$ |
55,202 | | | |
Depreciation of fixed assets
| |
46,172 | |
46,978 | |
47,544 | | | |
Stock based compensation | |
2,710 | |
2,678 | |
3,750 | | | |
Amortization of acquired intangible assets | |
1,627 | |
1,652 | |
2,161 | | | | | | | | | | | | |
EBITDA |
$ |
89,068 |
$ |
95,548 |
$ |
108,657 | | | | | | | | | | |
|
