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
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TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | | |
RECONCILIATION OF CERTAIN FINANCIAL DATA (UNAUDITED) | | |
(dollars and share count in thousands, except per share data) | | | | | | | | | | | | | | | | | | | | | | | | | |
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 | | | | | | | | | | | | | | | | | |
RECONCILIATION FROM GAAP NET PROFIT TO ADJUSTED NET PROFIT: | | | | | | | | | | | | | | | | | | | | | | | | |
GAAP NET PROFIT | |
$ |
37,742 |
$ |
26,118 |
$ |
50,017 | | | | |
Stock based compensation
| |
2,678 | |
3,367 | |
2,319 | | | | |
Amortization of acquired intangible assets
| |
1,652 | |
1,661 | |
2,246 | | | | | | | | | | | | | | | | | | |
ADJUSTED NET PROFIT |
$ |
42,072 |
$ |
31,146 |
$ |
54,582 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
ADJUSTED NET PROFIT PER SHARE
: | | | | | | | | | | |
Basic | | |
$ |
0.43 |
$ |
0.32 |
$ |
0.57 | | | | |
Diluted | | |
$ |
0.42 |
$ |
0.31 |
$ |
0.54 | | | | |
Fully diluted | |
$ |
0.41 |
$ |
0.31 |
$ |
0.53 | | | | | | | | | | | | | | | | | | |
ADJUSTED NET PROFIT USED TO CALCULATE PER SHARE DATA: | | | | | | | | | | |
Basic | | |
$ |
42,072 |
$ |
31,146 |
$ |
54,582 | | | | |
Diluted | | |
$ |
44,463 |
$ |
31,146 |
$ |
56,782 | | | | |
Fully diluted | |
$ |
44,463 |
$ |
33,486 |
$ |
56,782 | | | | | | | | | | | | | | | | | | |
NUMBER OF SHARES AND OTHER SECURITIES USED TO CALCULATE PER SHARE DATA: | | | | | | | | |
Basic | | | |
98,888 | |
98,495 | |
96,365 | | | | |
Diluted | | | |
106,856 | |
101,112 | |
105,648 | | | | |
Fully diluted | | |
107,880 | |
107,717 | |
107,375 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
EBITDA CALCULATION: | | | | | | | | | | | | | | | | | | | | | | | | |
GAAP OPERATING PROFIT
|
$ |
44,240 |
$ |
31,905 |
$ |
57,391 | | | | |
Depreciation of fixed assets
| |
46,978 | |
47,357 | |
46,360 | | | | |
Stock based compensation | |
2,678 | |
3,367 | |
2,319 | | | | |
Amortization of acquired intangible assets | |
1,652 | |
1,661 | |
2,246 | | | | | | | | | | | | | | | | | | |
EBITDA | | |
$ |
95,548 |
$ |
84,290 |
$ |
108,316 | | | | | | | | | | | | | | | | |
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