| TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | |||||||
| (dollars and share count in thousands, except per share data) | |||||||
| Nine months ended | |||||||
| September 30, | |||||||
|
2022
| 2021 | ||||||
| REVENUES | $ | 1,274,387 | $ | 1,096,058 | |||
| COST OF REVENUES | 932,805 | 867,113 | |||||
| GROSS PROFIT | 341,582 | 228,945 | |||||
| OPERATING COSTS AND EXPENSES: | |||||||
| Research and development | 63,205 | 63,015 | |||||
| Marketing, general and administrative | 61,402 | 55,282 | |||||
| Restructuring costs | 4,033 | -- | |||||
| 128,640 | 118,297 | ||||||
| OPERATING PROFIT | 212,942 | 110,648 | |||||
| FINANCING AND OTHER EXPENSE, NET | (19,646 | ) | (11,040 | ) | |||
| PROFIT BEFORE INCOME TAX | 193,296 | 99,608 | |||||
| INCOME TAX BENEFIT (EXPENSE), NET | (12,667) | 2,590 | |||||
| NET PROFIT | 180,629 | 102,198 | |||||
| Net loss (income) attributable to non-controlling interest | 616 | (3,925 | ) | ||||
| NET PROFIT ATTRIBUTABLE TO THE COMPANY | $ | 181,245 | $ | 98,273 | |||
| BASIC EARNINGS PER SHARE | $ | 1.66 | $ | 0.91 | |||
| Weighted average number of shares | 109,165 | 108,114 | |||||
| DILUTED EARNINGS PER SHARE | $ | 1.64 | $ | 0.90 | |||
| Weighted average number of shares | 110,691 | 109,640 | |||||
