TowerJazz Reports Full Year 2019 Results with 5% Organic Revenue Growth; Expects Revenue Growth for 2020
|
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 | | | | |
December 31, | |
September 30, |
December 31, | | | | |
2019 | |
2019 | |
2018 | | | | | | | | | | |
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD |
$ |
417,636 | |
$ |
405,158 | |
$ |
464,446 | | | | | | | | | | | | |
Net cash provided by operating activities | |
71,561 | | |
72,735 | | |
91,496 | | | |
Investments in property and equipment, net | |
(43,704
) | | |
(43,017
) | | |
(48,654
) | | | |
Exercise of options, net | |
1,402 | | |
43 | | |
9 | | | |
Debt repaid, net | |
(3,247
) | | |
(5,606
) | | |
(2,924
) | | | |
Effect of Japanese Yen exchange rate change over cash balance | |
(557
) | | |
(104
) | | |
3,844 | | | |
Investments in short-term deposits, marketable securities and other assets, net | |
(87,530
) | | |
(11,573
) | | |
(123,126
) | | | | | | | | | | | |
CASH AND CASH EQUIVALENTS - END OF PERIOD |
$ |
355,561 | |
$ |
417,636 | |
$ |
385,091 | | | | | | | | | | | |
FREE CASH FLOW |
$ |
27,857 | |
$ |
29,718 | |
$ |
42,842 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Y e a r e n d e d | | | | | | |
December 31, | |
December 31, | | | | | | |
2019 | |
2018 | | | | | | | | | | | | |
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD |
$ |
385,091 | |
$ |
445,961 | | | | | | | | | | | | | | |
Net cash provided by operating activities | |
291,320 | | |
312,897 | | | | | |
Investments in property and equipment, net | |
(172,166
) | | |
(169,741
) | | | | | |
Exercise of warrants and options, net | |
1,842 | | |
714 | | | | | |
Debt repaid, net | |
(19,402
) | | |
(48,849
) | | | | | |
Effect of Japanese Yen exchange rate change over cash balance | |
1,804 | | |
2,585 | | | | | |
Investments in short-term deposits, marketable securities and other assets, net | |
(132,928
) | | |
(158,476
) | | | | | | | | | | | | | |
CASH AND CASH EQUIVALENTS - END OF PERIOD |
$ |
355,561 | |
$ |
385,091 | | | | | | | | | | | | | |
FREE CASH FLOW |
$ |
119,154 | |
$ |
143,156 | | | | | | | | | | | | |
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