TowerJazz Reports Increase in Revenue, EBITDA and Net Profit for the First Quarter of 2016




TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(dollars and share count in thousands, except per share data)
            
            
        Three months ended
        March 31,  December 31,  March 31,
         2016    2015    2015 
            
REVENUES  $  278,043   $  254,602   $  226,217  
            
COST OF REVENUES    216,696     190,072     193,225  
               
   GROSS PROFIT    61,347     64,530     32,992  
            
OPERATING COSTS AND EXPENSES      
            
  Research and development   15,237     15,704     14,837  
  Marketing, general and administrative   15,923      15,478       16,161  
  Nishiwaki Fab restructuring costs and impairment, net     (627 )     (991 )     --  
                       
                30,533       30,191       30,998  
                       
                       
    OPERATING PROFIT     30,814       34,339       1,994  
                       
INTEREST EXPENSE, NET     (3,358 )     (2,366 )     (3,633 )
                       
OTHER NON CASH FINANCING EXPENSE, NET (*)     (3,969 )     (12,751 )     (84,596 )
                       
GAIN FROM ACQUISITION, NET     41,140         --       --  
                       
OTHER INCOME (EXPENSE), NET     --       70       (9 )
                       
    PROFIT (LOSS) BEFORE INCOME TAX       64,627       19,292       (86,244 )
                       
INCOME TAX BENEFIT (EXPENSE)     (79 )     4,779       10,894  
                       
    PROFIT (LOSS) BEFORE NON CONTROLLING INTEREST     64,548       24,071       (75,350 )
                       
NON CONTROLLING INTEREST     1,396       (1,992 )     2,286  
                       
    NET PROFIT (LOSS) $   65,944   $   22,079   $   (73,064 )
                       
                       
BASIC EARNINGS (LOSS) PER ORDINARY SHARE $   0.78     $   0.28     $   (1.15 )
                       
Weighted average number of ordinary            
  shares outstanding         84,521         79,607         63,581  
                       
                       
DILUTED EARNINGS PER ORDINARY SHARE $   0.69   $   0.25      
                       
Net profit used for diluted earnings per share $   68,002   $   22,079      
                       
Weighted average number of ordinary shares outstanding            
  used for diluted earnings per share     98,777       88,970      
                       
                       
(*) Includes $6,998 and $73,121 non cash financing expenses associated with Bonds Series F accelerated conversion in the three months ended
December 31, 2015 and March 31, 2015, respectively
 
                       

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7  Next Page »



Review Article Be the first to review this article
CST: Webinar

Aldec Simulator Evaluate Now

Featured Video
Jobs
Applications Engineer for intersil at Palm Bay, FL
RF IC Design Engineering Manager for Intel at Santa Clara, CA
Design Verification Engineer for Cirrus Logic, Inc. at Austin, TX
Senior Formal FAE Location OPEN for EDA Careers at San Jose or Anywhere, CA
Principal PIC Hardware Controls Engineer for Infinera Corp at Sunnyvale, CA
Upcoming Events
Essentials of Electronic Technology: A Crash Course at Columbia MD - Jan 16 - 18, 2018
Essentials of Digital Technology at MD - Feb 13 - 14, 2018
IPC APEX EXPO 2018 at San Diego Convention Center San Diego CA - Feb 24 - 1, 2018
CST: Webinar series
DownStream: Solutions for Post Processing PCB Designs
TrueCircuits: UltraPLL



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise