Tower Semiconductor Reports Double Digit Revenue Growth for the Fourth Quarter of 2020
|
TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES |
|
RECONCILIATION FROM GAAP OPERATING PROFIT TO EBITDA (UNAUDITED) |
|
(dollars in thousands) |
| | | | | | | | | | |
| | | | | | | | | | |
| | | | | |
Three months ended
|
| | | | | |
December 31, | |
September 30, | |
December 31, |
| | | | | |
2020 | |
2020 | |
2019 |
| | | | | | | | | | |
|
EBITDA CALCULATION: | | | | | | |
| | | | | | | | | | |
| |
GAAP OPERATING PROFIT |
$ |
33,379 |
$ |
19,089 |
$ |
18,898 |
| | |
Depreciation of fixed assets | |
56,956 | |
56,131 | |
52,222 |
| | |
Stock based compensation | |
5,190 | |
3,460 | |
3,066 |
| | |
Amortization of acquired intangible assets | |
365 | |
490 | |
453 |
| | | | | | | | | | |
| |
EBITDA | |
$ |
95,890 |
$ |
79,170 |
$ |
74,639 |
| | | | | | | | | | |
| | | | | | | | | | |
| | | | | | | | | | |
| | | | | |
Year ended | | |
| | | | | |
December 31, | |
December 31, | | |
| | | | | |
2020 | |
2019 | | |
| | | | | | | | | | |
|
GAAP OPERATING PROFIT |
$ |
91,033 |
$ |
86,716 | | |
| |
Depreciation of fixed assets | |
219,746 | |
194,584 | | |
| |
Stock based compensation | |
16,988 | |
14,548 | | |
| |
Amortization of acquired intangible assets | |
1,658 | |
3,080 | | |
| | | | | | | | | | |
|
EBITDA | |
$ |
329,425 |
$ |
298,928 | | |
| | | | | | | | | | |
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