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) 
            
         S i x   m o n t h s   e n d e d 
         June 30, 
         2018  2017 
            
RECONCILIATION FROM GAAP NET PROFIT TO ADJUSTED NET PROFIT:      
            
  GAAP NET PROFIT  $ 63,860 $ 95,526  
   Stock based compensation     6,045   4,417  
   Amortization of acquired intangible assets     3,313   4,582  
            
  ADJUSTED NET PROFIT  $ 73,218 $ 104,525  
            
            
  ADJUSTED NET PROFIT PER SHARE:      
   Basic   $ 0.74 $ 1.10  
   Diluted   $ 0.72 $ 1.03  
   Fully diluted  $ 0.72 $ 1.01  
            
  ADJUSTED NET PROFIT USED TO CALCULATE PER SHARE DATA:      
    Basic     $   73,218 $   104,525  
    Diluted     $   73,218 $   108,882  
    Fully diluted   $   77,949 $   108,882  
                       
  NUMBER OF SHARES AND OTHER SECURITIES USED TO CALCULATE PER SHARE DATA:            
    Basic         98,693     95,139  
    Diluted         101,090     105,288  
    Fully diluted       107,880     107,375  
                       
                       
EBITDA CALCULATION:            
                       
  GAAP OPERATING PROFIT     $ 76,145 $ 110,154  
    Depreciation of fixed assets       94,335   90,179  
    Stock based compensation     6,045   4,417  
    Amortization of acquired intangible assets     3,313   4,582  
                       
  EBITDA     $ 179,838 $ 209,332  
                       

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