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 | ||||||||||||||||
June 30, | March 31, | June 30, | ||||||||||||||
2018
|
2018
|
2017
| ||||||||||||||
REVENUES
| $ | 335,138 | $ | 312,710 | $ | 345,059 | ||||||||||
COST OF REVENUES
| 256,610 | 246,545 | 253,998 | |||||||||||||
GROSS PROFIT
| 78,528 | 66,165 | 91,061 | |||||||||||||
OPERATING COSTS AND EXPENSES: | ||||||||||||||||
Research and development | 18,173 | 18,266 | 16,432 | |||||||||||||
Marketing, general and administrative | 16,115 | 15,994 | 17,238 | |||||||||||||
34,288 | 34,260 | 33,670 | ||||||||||||||
OPERATING PROFIT | 44,240 | 31,905 | 57,391 | |||||||||||||
FINANCING EXPENSES, NET | (7,031 | ) | (3,791 | ) | (3,123 | ) | ||||||||||
OTHER INCOME, NET
| 1,578 | 22 | 142 | |||||||||||||
PROFIT BEFORE INCOME TAX | 38,787 | 28,136 | 54,410 | |||||||||||||
INCOME TAX EXPENSE, NET | (2,778 | ) | (955 | ) | (2,683 | ) | ||||||||||
PROFIT BEFORE NON CONTROLLING INTEREST | 36,009 | 27,181 | 51,727 | |||||||||||||
NON CONTROLLING INTEREST | 1,733 | (1,063 | ) | (1,710 | ) | |||||||||||
NET PROFIT
| $ | 37,742 | $ | 26,118 | $ | 50,017 | ||||||||||
BASIC EARNINGS PER SHARE | $ | 0.38 | $ | 0.27 | $ | 0.52 | ||||||||||
Weighted average number of shares | 98,888 | 98,495 | 96,365 | |||||||||||||
DILUTED EARNINGS PER SHARE | $ | 0.37 | $ | 0.26 | $ | 0.49 | ||||||||||
Net profit used for diluted earnings per share | $ | 37,742 | $ | 26,118 | $ | 52,217 | ||||||||||
Weighted average number of shares | 101,066 | 101,112 | 105,648 | |||||||||||||