Tower Semiconductor Reports Record Revenues and Strong Margins Growth
| |
TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |
|
RECONCILIATION FROM GAAP OPERATING PROFIT TO EBITDA (UNAUDITED) | |
|
(dollars in thousands) | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | |
Three months ended | |
| | | | | | | | |
September 30, | |
June 30, | |
September 30, | |
| | | | | | | | |
2021 | |
2021 | |
2020 | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| |
GAAP OPERATING PROFIT |
$ |
44,165 |
$ |
34,003 |
$ |
19,089 | |
| | |
Depreciation of fixed assets | |
63,021 | |
58,474 | |
56,131 | |
| | |
Stock based compensation | |
5,452 | |
5,971 | |
3,460 | |
| | |
Amortization of acquired intangible assets | |
504 | |
492 | |
490 | |
| | | | | | | | | | | | | | |
| |
EBITDA | | |
$ |
113,142 |
$ |
98,940 |
$ |
79,170 | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | |
Nine months ended | | | |
| | | | | | | | |
September 30, | |
September 30, | | | |
| | | | | | | | |
2021 | |
2020 | | | |
| | | | | | | | | | | | | | |
| |
GAAP OPERATING PROFIT |
$ |
110,648 |
$ |
57,654 | | | |
| | |
Depreciation of fixed assets | |
178,119 | |
162,790 | | | |
| | |
Stock based compensation | |
16,329 | |
11,798 | | | |
| | |
Amortization of acquired intangible assets | |
1,487 | |
1,293 | | | |
| | | | | | | | | | | | | | |
| |
EBITDA | | |
$ |
306,583 |
$ |
233,535 | | | |
| | | | | | | | | | | | | | |
