Tower Semiconductor Reports Second Quarter 2022 Record Revenue of $426 Million Year over Year Revenue Growth of 18% Total and 30% Organic
|
TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | | |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | | |
(dollars and share count in thousands, except per share data) | | | |
Six months ended | | | |
June 30, | | | |
2022 | |
2021 | | |
REVENUES |
$ 847,300 | |
$ 709,352 | | |
COST OF REVENUES |
630,229 | |
565,783 | | |
GROSS PROFIT |
217,071 | |
143,569 | | |
OPERATING COSTS AND EXPENSES: | | | | | |
Research and development |
40,799 | |
41,424 | | |
Marketing, general and administrative |
42,538 | |
35,662 | | | |
83,337 | |
77,086 | | | | | | | | |
OPERATING PROFIT |
133,734 | |
66,483 | | |
FINANCING AND OTHER EXPENSE, NET |
(10,295) | |
(8,326) | | |
PROFIT BEFORE INCOME TAX |
123,439 | |
58,157 | | |
INCOME TAX BENEFIT (EXPENSE), NET |
(9,492) | |
3,674 | | |
NET PROFIT |
113,947 | |
61,831 | | |
Net income attributable to non-controlling interest |
(1,837) | |
(2,643) | | |
NET PROFIT ATTRIBUTABLE TO THE COMPANY |
$ 112,110 | |
$ 59,188 | | |
BASIC EARNINGS PER SHARE |
$ 1.03 | |
$ 0.55 | | |
Weighted average number of shares |
109,037 | |
107,992 | | |
DILUTED EARNINGS PER SHARE |
$ 1.01 | |
$ 0.54 | | |
Weighted average number of shares |
110,561 | |
109,545 | | | | | | | |
|
