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
RECONCILIATION OF CERTAIN FINANCIAL DATA (UNAUDITED)
(dollars and share count in thousands, except per share data)

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

RECONCILIATION FROM GAAP NET PROFIT TO ADJUSTED NET PROFIT:

	GAAP NET PROFIT		$	33,646	$	37,742	$	55,274
		Stock based compensation		2,710		2,678		3,750
		Amortization of acquired intangible assets		1,627		1,652		2,161

	ADJUSTED NET PROFIT		$	37,983	$	42,072	$	61,185


	ADJUSTED NET PROFIT PER SHARE :
		Basic	$	0.38	$	0.43	$	0.62
		Diluted	$	0.37	$	0.42	$	0.60
		Fully diluted	$	0.37	$	0.41	$	0.59

	ADJUSTED NET PROFIT USED TO CALCULATE PER SHARE DATA:
		Basic	$	37,983	$	42,072	$	61,185
		Diluted	$	37,983	$	44,463	$	63,430
		Fully diluted	$	40,149	$	44,463	$	63,430

	NUMBER OF SHARES AND OTHER SECURITIES USED TO CALCULATE PER SHARE DATA:
		Basic		100,158		98,888		97,947
		Diluted		102,083		106,856		106,384
		Fully diluted		108,146		107,880		107,729


EBITDA CALCULATION:

	GAAP OPERATING PROFIT		$	38,559	$	44,240	$	55,202
		Depreciation of fixed assets		46,172		46,978		47,544
		Stock based compensation		2,710		2,678		3,750
		Amortization of acquired intangible assets		1,627		1,652		2,161

	EBITDA		$	89,068	$	95,548	$	108,657

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