TowerJazz Announces Second Quarter 2019 Results with Strong Organic Growth and Guides Third Quarter Revenue Increase with Continued Organic Growth

 

TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES
CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED)
(dollars in thousands)
         
         
   Three   months   ended
   June 30,   March 31,   June 30,
   2019    2019    2018
         
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD $ 408,098    $ 385,091    $ 464,661  
         
Net cash provided by operating activities  72,156     74,868     76,929  
Investments in property and equipment, net  (43,727 )   (41,718 )   (40,148 )
Exercise of options, net     --         397       26  
Debt received (repaid), net   (7,475 )     (3,074 )     3,809  
Effect of Japanese Yen exchange rate change over cash balance   3,205       (740 )     (2,909 )
Investments in short-term deposits, marketable securities and other assets, n et (27,099 )     (6,726 )     (15,488 )
                 
CASH AND CASH EQUIVALENTS - END OF PERIOD $ 405,158     $ 408,098     $ 486,880  
                 
FREE CASH FLOW $ 28,429     $ 33,150     $ 36,781  
                 
                 
                 
    Six   months   ended      
    June 30,     June 30,      
    2019     2018      
                 
CASH AND SHORT-TERM DEPOSITS - BEGINNING OF PERIOD $ 385,091     $ 445,961        
                 
Net cash provided by operating activities   147,024       151,930        
Investments in property and equipment, net   (85,445 )     (80,195 )      
Exercise of warrants and options, net   397       684        
Debt repaid, net   (10,549 )     (2,847 )      
Effect of Japanese Yen exchange rate change over cash balance   2,465       1,798        
Investments in short-term deposits, marketable securities and other assets, n et (33,825 )     (30,451 )      
                 
CASH AND CASH EQUIVALENTS - END OF PERIOD $ 405,158     $ 486,880        
                 
FREE CASH FLOW $ 61,579     $ 71,735        
                 

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