Tower Semiconductor Reports Third Quarter 2020 Results and

Tower Semiconductor Reports Third Quarter 2020 Results and Guides Fourth Quarter Significant Revenue Increase

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


			Three months ended
			September 30,			June 30,			September 30,
			2020			2020			2019

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

	Net cash provided by operating activities		68,612			66,603			72,735
	Investments in property and equipment, net		(66,862	)		(62,537	)		(43,017	)
	Exercise of options		272			1,127			43
	Debt repaid, net		(26,355	)		(5,000	)		(5,606	)
	Effect of Japanese Yen exchange rate change over cash balance		2,227			682			(104	)
	Investments in short-term deposits, marketable securities and other assets, net		(28,983	)		6,570			(11,573	)

CASH AND CASH EQUIVALENTS - END OF PERIOD		$	207,704		$	258,793		$	417,636



			Nine months ended
			September 30,
			2020			2019

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

	Net cash provided by operating activities		203,551			219,759
	Investments in property and equipment, net		(192,306	)		(128,462	)
	Exercise of options		1,486			440
	Debt repaid, net		(55,552	)		(16,155	)
	Effect of Japanese Yen exchange rate change over cash balance		2,733			2,361
	Investments in short-term deposits, marketable securities and other assets, net		(107,769	)		(45,398	)

CASH AND CASH EQUIVALENTS - END OF PERIOD		$	207,704		$	417,636

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