TowerJazz Reports Record Revenues for the Third Quarter of 2015 With Continued Increase in Net Profit and Margins

(Financial tables follow)

 

TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES
  CONSOLIDATED BALANCE SHEETS
(dollars in thousands)
             
             
    September 30,   June 30,   March 31,   December 31,
    2015   2015   2015   2014
    (Unaudited)   (Unaudited)   (Unaudited)   
             
ASSETS            
             
CURRENT ASSETS            
Cash and cash equivalents  $ 155,348   $ 142,503   $ 134,216   $ 187,167
Trade accounts receivable   122,686    112,624    105,491    99,166
Other receivables   7,263    6,333    7,408    5,759
Inventories   104,396    91,855    86,153    87,873
Other current assets   23,731    18,796    20,314    14,119
Total current assets   413,424    372,111    353,582    394,084
             
LONG-TERM INVESTMENTS    12,050     12,437     11,785     11,896
                         
PROPERTY AND EQUIPMENT, NET     430,477     415,092     408,513     419,111
                         
INTANGIBLE ASSETS, NET     36,718     39,283     41,225     42,037
                         
GOODWILL     7,000     7,000     7,000     7,000
                         
OTHER ASSETS, NET     7,220     7,410     6,391     10,018
                         
                         
TOTAL ASSETS   $ 906,889   $ 853,333   $ 828,496   $ 884,146
                         
                         
LIABILITIES AND SHAREHOLDERS' EQUITY                      
                         
CURRENT LIABILITIES                        
Current maturities of loans and debentures   $ 49,224   $ 40,558   $ 26,721   $ 119,999
Trade accounts payable     111,917     106,677     108,616     98,632
Deferred revenue and customers' advances     14,752     11,540     8,112     5,478
Other current liabilities     76,765     72,715     59,102     76,216
Total current liabilities     252,658     231,490     202,551     300,325
                         
LONG-TERM DEBT     206,801     214,357     225,841     267,087
                         
LONG-TERM CUSTOMERS' ADVANCES     21,110     6,178     6,181     6,272
                         
EMPLOYEE RELATED LIABILITES     15,786     16,571     15,973     16,699
                         
DEFERRED TAX LIABILITY     76,197     74,551     75,854     75,278
                         
OTHER LONG-TERM LIABILITIES     9,730     9,897     10,057     22,924
                         
Total liabilities     582,282     553,044     536,457     688,585
                         
TOTAL SHAREHOLDERS' EQUITY     324,607     300,289     292,039     195,561
                         
                         
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY   $ 906,889   $ 853,333   $ 828,496   $ 884,146

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