TOWER SEMICONDUCTOR LTD. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
(dollars in thousands, except share data and per share data)
Year ended Three months ended
December 31, December 31,
-------------------- ------------------
2006 2005 2006 2005
--------- --------- --------- --------
REVENUES
Sales 187,438 93,991 55,505 31,063
Revenues related to a
joint development
agreement -- 8,000 -- --
--------- --------- --------- --------
187,438 101,991 55,505 31,063
COST OF SALES 267,390 238,358 72,724 58,760
--------- --------- --------- --------
GROSS LOSS (79,952) (136,367) (17,219) (27,697)
--------- --------- --------- --------
OPERATING COSTS AND EXPENSES
Research and development 14,984 16,029 3,877 3,180
Marketing, general and
administrative 24,512 17,418 6,406 3,937
--------- --------- --------- --------
39,496 33,447 10,283 7,117
--------- --------- --------- --------
--------- --------- --------- --------
OPERATING LOSS (119,448) (169,814) (27,502) (34,814)
FINANCING EXPENSE, NET (48,148) (35,651) (10,191) (10,223)
GAIN ON DEBT RESTRUCTURING 80,071 -- -- --
OTHER INCOME (EXPENSE), NET 597 2,383 -- (135)
--------- --------- --------- --------
LOSS FOR THE PERIOD $ (86,928) $(203,082) $ (37,693) (45,172)
========= ========= ========= ========
BASIC LOSS PER ORDINARY
SHARE
Loss per share (a) $ (1.05) $ (3.06) $ (0.40) (0.68)
========= ========= ========= ========
Weighted average number
of ordinary shares
outstanding - in
thousands 82,581 66,371 94,373 66,905
========= ========= ========= ========
(a) Basic loss per share in accordance with U.S. GAAP for the year and
three months periods ended December 31, 2006 are $2.03 and $0.38,
respectively and are the same as the Isr. GAAP data for the year
and three months periods ended December 31, 2005.
Contact:
Tower Semiconductor
Ilanit Vudinsky, +972 4 650 6434
Email Contact
or
Shelton
Group
Jim Mathias, 972-239-5119, ext. 115
Email Contact
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