TowerJazz Reports First Quarter 2017 Results: Record Free Cash Flow Resulting from Strong Year over Year Growth in Revenue and Margins
|
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 | | | | |
March 31, | | |
December 31, | | |
March 31, | | | | |
2017 | | |
2016 | | |
2016 | | | | | | | | | | | | |
Cash and short-term deposits - beginning of period |
$ |
389,377 | | |
$ |
362,833 | | |
$ |
205,575 | | | | | | | | | | | | | | |
Cash from operations | |
82,140 | | | |
81,835 | | | |
77,442 | | | |
Investments in property and equipment, net | |
(40,348 |
) | | |
(42,929 |
) | | |
(57,533 |
) | | |
Exercise of warrants and options, net | |
12,756 | | | |
10,644 | | | |
5,881 | | | |
Debt received (repaid), net | |
(11,805 |
) | | |
(5,653 |
) | | |
6,746 | | | |
Effect of Japanese Yen exchange rate change over cash balance | |
4,371 | | | |
(17,353 |
) | | |
9,029 | | | |
TPSCo dividend to Panasonic | |
(4,378 |
) | | |
--
| | | |
(2,563 |
) | | | | | | | | | | | | |
Cash and short-term deposits - end of period |
$ |
432,113 | | |
$ |
389,377 | | |
$ |
244,577 | | | | | | | | | | | | | |
Free Cash Flow |
$ |
41,792 | | |
$ |
38,906 | | |
$ |
19,909 | | | | | | | | | | | | |
|
