Tower Semiconductor Reports Second Quarter 2020 with Quarter over Quarter Revenues and Margins Growth
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TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |
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RECONCILIATION FROM GAAP OPERATING PROFIT TO EBITDA (UNAUDITED) | |
|
(dollars in thousands) | |
| | | | | | | | | | | | | | |
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EBITDA CALCULATION: | | | | | | | |
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Three months ended | |
| | | | | | | | |
June 30, | |
March 31, | |
June 30, | |
| | | | | | | | |
2020 | |
2020 | |
2019 | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
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| |
GAAP OPERATING PROFIT |
$ |
22,127 |
$ |
16,438 |
$ |
17,757 | |
| | |
Depreciation of fixed assets | |
55,175 |
|
51,484 | |
47,966 | |
| | |
Stock based compensation | |
3,795 |
|
4,543 | |
3,884 | |
| | |
Amortization of acquired intangible assets |
493 |
|
310 | |
494 | |
| | | | | | | | | |
| | | | |
| |
EBITDA | | |
$ |
81,590 |
$ |
72,775 |
$ |
70,101 | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
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Six months ended
| | | |
| | | | | | | | |
June 30, | |
June 30, | | | |
| | | | | | | | |
2020 | |
2019 | | | |
| | | | | | | | | | | | | | |
| |
GAAP OPERATING PROFIT |
$ |
38,565 |
$ |
45,099 | | | |
| | |
Depreciation of fixed assets | |
106,659 | |
94,007 | | | |
| | |
Stock based compensation | |
8,338 | |
7,707 | | | |
| | |
Amortization of acquired intangible assets |
803 | |
2,135 | | | |
| | | | | | | | | | | | | | |
| |
EBITDA | | |
$ |
154,365 |
$ |
148,948 | | | |
| | | | | | | | | | | | | | |
