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
CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED)
(dollars in thousands)
       
       
   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
       
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD $ 464,661   $ 445,961   $ 432,113  
       
  Cash from operations  76,929    75,001    84,294  
  Investments in property and equipment, net  (40,148 )  (40,047 )  (41,312 )
  Exercise of warrants and options, net  26    658    14,254  
  Debt received (repaid), net  3,809    (6,656 )  (5,655 )
  Effect of Japanese Yen exchange rate change over cash balance  (2,909 )  4,707    (91 )
  Investments in marketable securities and other assets, net  (15,488 )  (14,963 )    --    
CASH AND CASH EQUIVALENTS - END OF PERIOD $ 486,880  $ 464,661  $ 483,603 
       
FREE CASH FLOW $ 36,781   $ 34,954   $ 42,982  
       
 
 
 
   Six months ended  
   June 30,  June 30,    
    2018
  2017
   
             
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD $ 445,961   $ 389,377      
             
  Cash from operations   151,930     166,434      
  Investments in property and equipment, net   (80,195 )   (81,660 )    
  Exercise of warrants and options, net   684     27,010      
  Debt repaid, net   (2,847 )   (17,460 )    
  Effect of Japanese Yen exchange rate change over cash balance   1,798     4,280      
  TPSCo dividend to Panasonic     --       (4,378 )    
  Investments in marketable securities and other assets, net   (30,451 )     --        
CASH AND CASH EQUIVALENTS - END OF PERIOD $ 486,880   $ 483,603      
             
FREE CASH FLOW $ 71,735   $ 84,774      
             

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