TowerJazz Reports Revenues of $323 million with Net Profit of

TowerJazz Reports Revenues of $323 million with Net Profit of $34 million for the Third Quarter of 2018



TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(dollars and share count in thousands, except per share data)


				Three months ended
				September 30,			June 30,			September 30,
				2018			2018			2017

REVENUES			$	322,596		$	335,138		$	354,557

COST OF REVENUES				249,975			256,610			265,439

		GROSS PROFIT		72,621			78,528			89,118

OPERATING COSTS AND EXPENSES:

	Research and development			18,236			18,173			17,094
	Marketing, general and administrative			15,826			16,115			16,822

				34,062			34,288			33,916


		OPERATING PROFIT		38,559			44,240			55,202

FINANCING EXPENSE, NET				(2,497	)		(7,031	)		(4,042	)

OTHER INCOME (EXPENSE), NET				--			1,578			(253	)

		PROFIT BEFORE INCOME TAX		36,062			38,787			50,907

INCOME TAX BENEFIT (EXPENSE), NET				(2,388	)		(2,778	)		3,334

		PROFIT BEFORE NON CONTROLLING INTEREST		33,674			36,009			54,241

NON CONTROLLING INTEREST				(28	)		1,733			1,033

		NET PROFIT	$	33,646		$	37,742		$	55,274


BASIC EARNINGS PER SHARE			$	0.34		$	0.38		$	0.56

Weighted average number of shares				100,158			98,888			97,947


DILUTED EARNINGS PER SHARE			$	0.33		$	0.37		$	0.54

Net profit used for diluted earnings per share			$	33,646		$	37,742		$	57,519

Weighted average number of shares				102,083			101,066			106,384

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