Tower Semiconductor Reports Third Quarter 2020 Results and Guides Fourth Quarter Significant Revenue Increase
|
TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |
CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED) | |
(dollars in thousands) | | | | | | | | | | | | | | | | | | | | | | |
Three months ended | | | | |
September 30, | | |
June 30, | | |
September 30, | | | | | |
2020 | | |
2020 | | |
2019 | | | | | | | | | | | |
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD |
$ |
258,793 | |
$ |
251,348 | |
$ |
405,158 | | | | | | | | | | | | |
Net cash provided by operating activities | |
68,612 | | |
66,603 | | |
72,735 | | | |
Investments in property and equipment, net | |
(66,862 |
) | |
(62,537 |
) | |
(43,017 |
) | | |
Exercise of options | |
272 | | |
1,127 | | |
43 | | | |
Debt repaid, net | |
(26,355 |
) | |
(5,000 |
) | |
(5,606 |
) | | |
Effect of Japanese Yen exchange rate change over cash balance | |
2,227 | | |
682 | | |
(104 |
) | | |
Investments in short-term deposits, marketable securities and other assets, net | |
(28,983 |
) | |
6,570 | | |
(11,573 |
) | | | | | | | | | | |
CASH AND CASH EQUIVALENTS - END OF PERIOD |
$ |
207,704 | |
$ |
258,793 | |
$ |
417,636 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Nine months ended | | | | | | |
September 30, | | | | | | |
2020 | | |
2019 | | | | | | | | | | | | | |
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD |
$ |
355,561 | |
$ |
385,091 | | | | | | | | | | | | | | |
Net cash provided by operating activities | |
203,551 | | |
219,759 | | | | | |
Investments in property and equipment, net | |
(192,306 |
) | |
(128,462 |
) | | | | |
Exercise of options | |
1,486 | | |
440 | | | | | |
Debt repaid, net | |
(55,552 |
) | |
(16,155 |
) | | | | |
Effect of Japanese Yen exchange rate change over cash balance | |
2,733 | | |
2,361 | | | | | |
Investments in short-term deposits, marketable securities and other assets, net | |
(107,769 |
) | |
(45,398 |
) | | | | | | | | | | | | |
CASH AND CASH EQUIVALENTS - END OF PERIOD |
$ |
207,704 | |
$ |
417,636 | | | | | | | | | | | | |
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