Tower Semiconductor Reports Second Quarter 2020 with Quarter

Tower Semiconductor Reports Second Quarter 2020 with Quarter over Quarter Revenues and Margins Growth

TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES
CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED)
(dollars in thousands)


			Three months ended
			June 30,			March 31,			June 30,
			2020			2020			2019

CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD		$	251,348		$	355,561		$	408,098

	Net cash provided by operating activities		66,603			68,336			72,156
	Investments in property and equipment, net		(62,537	)		(62,907	)		(43,727	)
	Exercise of options		1,127			87			--
	Debt repaid, net		(5,000	)		(24,197	)		(7,475	)
	Effect of Japanese Yen exchange rate change over cash balance		682			(176	)		3,205
	Investments in short-term deposits, marketable securities and other assets, net		6,570			(85,356	)		(27,099	)

CASH AND CASH EQUIVALENTS - END OF PERIOD		$	258,793		$	251,348		$	405,158



			Six months ended
			June 30,			June 30,
			2020			2019

CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD		$	355,561		$	385,091

	Net cash provided by operating activities		134,939			147,024
	Investments in property and equipment, net		(125,444	)		(85,445	)
	Exercise of options		1,214			397
	Debt repaid, net		(29,197	)		(10,549	)
	Effect of Japanese Yen exchange rate change over cash balance		506			2,465
	Investments in short-term deposits, marketable securities and other assets, net		(78,786	)		(33,825	)

CASH AND CASH EQUIVALENTS - END OF PERIOD		$	258,793		$	405,158

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