Tower Semiconductor Reports First Quarter 2020 with Year over Year Organic Revenue Growth
|
TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |
RECONCILIATION FROM GAAP OPERATING PROFIT TO EBITDA (UNAUDITED) | |
(dollars in thousands) | | | | | | | | | | | | | | | | | | | |
T h r e e m o n t h s e n d e d | | | |
March 31, | |
December 31, | |
March 31, | | | |
2020 | |
2019 | |
2019 | | | | | | | | | | | | | | | | | |
EBITDA CALCULATION: | | | | | | | | | | | | | | | | |
GAAP OPERATING PROFIT |
$ |
16,438 |
$ |
18,898 |
$ |
27,342 | | | |
Depreciation of fixed assets | |
51,484 | |
52,222 | |
46,041 | | | |
Stock based compensation | |
4,543 | |
3,066 | |
3,823 | | | |
Amortization of acquired intangible assets | |
310 | |
453 | |
1,641 | | | | | | | | | | |
EBITDA |
$ |
72,775 |
$ |
74,639 |
$ |
78,847 | | | | | | | | |
|
TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |
CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED) | |
(dollars in thousands) | | | | | | | | | | | | | | | | | | | | | | |
T h r e e m o n t h s e n d e d | | | | |
March 31, | |
December 31, | |
March 31, | | | | |
2020 | |
2019 | |
2019 | | | | | | | | | | |
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD |
$ |
355,561 | |
$ |
417,636 | |
$ |
385,091 | | | | | | | | | | | | |
Net cash provided by operating activities | |
68,336 | | |
71,561 | | |
74,868 | | | |
Investments in property and equipment, net | |
(62,907 |
) | |
(43,704 |
) | |
(41,718 |
) | | |
Exercise of options, net | |
87 | | |
1,402 | | |
397 | | | |
Debt repaid, net | |
(24,197 |
) | |
(3,247 |
) | |
(3,074 |
) | | |
Effect of Japanese Yen exchange rate change over cash balance | |
(176 |
) | |
(557 |
) | |
(740 |
) | | |
Investments in short-term deposits, marketable securities and other assets, net | |
(85,356 |
) | |
(87,530 |
) | |
(6,726 |
) | | | | | | | | | | |
CASH AND CASH EQUIVALENTS - END OF PERIOD |
$ |
251,348 | |
$ |
355,561 | |
$ |
408,098 | | | | | | | | | | |
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