TowerJazz Reports Increase in Net Profit
|
TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | | |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | | |
(dollars and share count in thousands, except per share data) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
T h r e e
m o n t h s
e n d e d | | | | | | | | | | | |
September 30, | |
September 30, | |
June 30, | | | | | | | | | | | |
2017 | | |
2016 | | |
2017 | | | | | | | | | | | | | | | | | | | | |
REVENUES | | |
$ |
354,557 | |
$ |
326,209 | |
$ |
345,059 | | | | | | | | | | | | | | | | | | | | |
COST OF REVENUES | | |
265,439 | | |
244,915 | | |
253,998 | | | | | | | | | | | | |
| |
| |
| | | | | |
GROSS PROFIT | | |
89,118 | | |
81,294 | | |
91,061 | | | | | | | | | | | | | | | | | | | | |
OPERATING COSTS AND EXPENSES: | | | | | | | | | | | | | | | | | | | | | | | | | | |
Research and development | |
17,094 | | |
15,547 | | |
16,432 | | | | | |
Marketing, general and administrative | |
16,822 | | |
16,787 | | |
17,238 | | | | | | | | | | | | |
| |
| |
| | | | | | | | | | | |
33,916 | | |
32,334 | | |
33,670 | | | | | | | | | | | | |
| |
| |
| | | | | | | | | | | | | | | | | | | | | |
OPERATING PROFIT | |
55,202 | | |
48,960 | | |
57,391 | | | | | | | | | | | | | | | | | | | | |
INTEREST EXPENSE, NET | |
(1,776 |
) | |
(3,272 |
) | |
(2,070 |
) | | | | | | | | | | | | | | | | | | | |
OTHER FINANCING EXPENSE, NET | |
(2,266 |
) | |
(2,210 |
) | |
(1,053 |
) | | | | | | | | | | | | | | | | | | | |
OTHER INCOME (EXPENSE), NET | |
(253 |
) | |
5,081 | | |
142 | | | | | | | | | | | | |
| |
| |
| | | | | |
PROFIT BEFORE INCOME TAX | |
50,907 | | |
48,559 | | |
54,410 | | | | | | | | | | | | | | | | | | | | |
INCOME TAX BENEFIT (EXPENSE) | |
3,334 | | |
3,459 | | |
(2,683 |
) | | | | | | | | | | | | | | | | | | | | | |
PROFIT BEFORE NON CONTROLLING INTEREST
| |
54,241 | | |
52,018 | | |
51,727 | | | | | | | | | | | | | | | | | | | | |
NON CONTROLLING INTEREST | |
1,033 | | |
(805 |
) | |
(1,710 |
) | | | | | | | | | | | |
| |
| |
| | | | | |
NET PROFIT | |
$ |
55,274 | |
$ |
51,213 | |
$ |
50,017 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
BASIC EARNINGS PER SHARE |
$ |
0.56 | |
$ |
0.58 | |
$ |
0.52 | | | | | | | | | | | | | | | | | | | | |
Weighted average number of shares | |
97,947 | | |
87,821 | | |
96,365 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
DILUTED EARNINGS PER SHARE |
$ |
0.54 | |
$ |
0.52 | |
$ |
0.49 | | | | | | | | | | | | | | | | | | | | |
Net profit used for diluted earnings per share |
$ |
57,519 | |
$ |
53,318 | |
$ |
52,217 | | | | | | | | | | | | | | | | | | | | |
Weighted average number of shares | |
106,384 | | |
101,805 | | |
105,648 | | | | | | | | | | | | | | | | | | |
|
