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
| | |
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 | | | |
June 30, | |
March 31, | |
June 30, | | | |
2018
| |
2018
| |
2017
| | | | | | | | | |
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD |
$ |
464,661 | |
$ |
445,961 | |
$ |
432,113 | | | | | | | | | | | |
Cash from operations | |
76,929 | | |
75,001 | | |
84,294 | | | |
Investments in property and equipment, net | |
(40,148 |
) | |
(40,047 |
) | |
(41,312 |
) | | |
Exercise of warrants and options, net | |
26 | | |
658 | | |
14,254 | | | |
Debt received (repaid), net | |
3,809 | | |
(6,656 |
) | |
(5,655 |
) | | |
Effect of Japanese Yen exchange rate change over cash balance | |
(2,909 |
) | |
4,707 | | |
(91 |
) | | |
Investments in marketable securities and other assets, net | |
(15,488 |
) | |
(14,963 |
) | |
--
| | |
CASH AND CASH EQUIVALENTS - END OF PERIOD |
$ |
486,880 | |
$ |
464,661 | |
$ |
483,603 | | | | | | | | | | |
FREE CASH FLOW |
$ |
36,781 | |
$ |
34,954 | |
$ |
42,982 | | | | | | | | | | | | | | | | | | |
Six months ended | | | | | |
June 30, | |
June 30, | | | | | |
2018
| |
2017
| | | | | | | | | | | |
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD |
$ |
445,961 | |
$ |
389,377 | | | | | | | | | | | | | |
Cash from operations | |
151,930 | | |
166,434 | | | | | |
Investments in property and equipment, net | |
(80,195 |
) | |
(81,660 |
) | | | | |
Exercise of warrants and options, net | |
684 | | |
27,010 | | | | | |
Debt repaid, net | |
(2,847 |
) | |
(17,460 |
) | | | | |
Effect of Japanese Yen exchange rate change over cash balance | |
1,798 | | |
4,280 | | | | | |
TPSCo dividend to Panasonic | |
--
| | |
(4,378 |
) | | | | |
Investments in marketable securities and other assets, net | |
(30,451 |
) | |
--
| | | | |
CASH AND CASH EQUIVALENTS - END OF PERIOD |
$ |
486,880 | |
$ |
483,603 | | | | | | | | | | | | |
FREE CASH FLOW |
$ |
71,735 | |
$ |
84,774 | | | | | | | | | | | |
|
