TowerJazz Reports Revenues of $323 million with Net Profit of $34 million for the Third Quarter of 2018
| | | | | | |
TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | | |
CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED) | | |
(dollars in thousands) | | | | | | | | | | | | | | | | | | | | | | | | | |
Three months ended | | | | | |
September 30, | |
June 30, | |
September 30, | | | | | |
2018 | |
2018 | |
2017 | | | | | | | | | | | | |
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD |
$ |
486,880 | |
$ |
464,661 | |
$ |
483,603 | | | | | | | | | | | | | | |
Cash from operations | |
69,471 | | |
76,929 | | |
103,916 | |
(a) | | |
Investments in property and equipment, net | |
(40,892 |
) | |
(40,148 |
) | |
(41,708 |
) | | | |
Exercise of options, net | |
21 | | |
26 | | |
1,027 | | | | |
Debt received (repaid), net | |
(43,078 |
) | |
3,809 | | |
(15,932 |
) | | | |
Effect of Japanese Yen exchange rate change over cash balance | |
(3,057 |
) | |
(2,909 |
) | |
(630 |
) | | | |
Investments in marketable securities and other assets, net | |
(4,899 |
) | |
(15,488 |
) | |
(49,869 |
) | | | | | | | | | | | | |
CASH AND CASH EQUIVALENTS - END OF PERIOD |
$ |
464,446 | |
$ |
486,880 | |
$ |
480,407 | | | | | | | | | | | | | |
Free Cash Flow |
$ |
28,579 | |
$ |
36,781 | |
$ |
62,208 | |
(a) | | | | | | | | | | | |
(a) |
Cash from operations for the three months ended September 30, 2017 included $18,000 received from Tacoma as announced on August 21, 2017. | | | | | | | | | | | | | | | | | | | | | | | | | |
Nine months ended | | | | | | | |
September 30, | |
September 30, | | | | | | | |
2018 | |
2017 | | | | | | | | | | | | | | |
CASH AND SHORT-TERM DEPOSITS - BEGINNING OF PERIOD |
$ |
445,961 | |
$ |
389,377 | | | | | | | | | | | | | | | | |
Cash from operations | |
221,401 | | |
270,350 | |
(b) | | | | |
Investments in property and equipment, net | |
(121,087 |
) | |
(123,368 |
) | | | | | |
Exercise of warrants and options, net | |
705 | | |
28,037 | | | | | | |
Debt repaid, net | |
(45,925 |
) | |
(33,392 |
) | | | | | |
Effect of Japanese Yen exchange rate change over cash balance | |
(1,259 |
) | |
3,650 | | | | | | |
TPSCo dividend to Panasonic | |
--
| | |
(4,378 |
) | | | | | |
Investments in marketable securities and other assets, net | |
(35,350 |
) | |
(49,869 |
) | | | | | | | | | | | | | | |
CASH AND AND SHORT-TERM DEPOSITS - END OF PERIOD |
$ |
464,446 | |
$ |
480,407 | | | | | | | | | | | | | | | |
Free Cash Flow |
$ |
100,314 | |
$ |
146,982 | |
(b) | | | | | | | | | | | | | |
(b) |
Cash from operations for the nine months ended September 30, 2017 included $18,000 received from Tacoma as announced on August 21, 2017. | | | | | | | | | | | |
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