TowerJazz Reports Results for the Second Quarter of 2018: Revenue of $335 million with Strong Increases in Net Profit and Profit Margins over Prior Quarter

 

TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES 
RECONCILIATION OF CERTAIN FINANCIAL DATA (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 
              
RECONCILIATION FROM GAAP NET PROFIT TO ADJUSTED NET PROFIT:       
              
  GAAP NET PROFIT  $ 37,742 $ 26,118 $ 50,017  
   Stock based compensation    2,678   3,367   2,319  
   Amortization of acquired intangible assets    1,652   1,661   2,246  
              
  ADJUSTED NET PROFIT $ 42,072 $ 31,146 $ 54,582  
              
              
  ADJUSTED NET PROFIT PER SHARE :       
   Basic   $ 0.43 $ 0.32 $ 0.57  
   Diluted   $ 0.42 $ 0.31 $ 0.54  
    Fully diluted   $ 0.41 $ 0.31 $ 0.53  
                           
  ADJUSTED NET PROFIT USED TO CALCULATE PER SHARE DATA:              
    Basic     $   42,072 $   31,146 $   54,582  
    Diluted     $   44,463 $   31,146 $   56,782  
    Fully diluted   $   44,463 $   33,486 $   56,782  
                           
  NUMBER OF SHARES AND OTHER SECURITIES USED TO CALCULATE PER SHARE DATA:          
    Basic         98,888     98,495     96,365  
    Diluted         106,856     101,112     105,648  
    Fully diluted       107,880     107,717     107,375  
                           
                           
EBITDA CALCULATION:              
                           
  GAAP OPERATING PROFIT   $ 44,240 $ 31,905 $ 57,391  
    Depreciation of fixed assets     46,978   47,357   46,360  
    Stock based compensation   2,678   3,367   2,319  
    Amortization of acquired intangible assets   1,652   1,661   2,246  
                           
  EBITDA     $ 95,548 $ 84,290 $ 108,316  
                           

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