TowerJazz Announces Second Quarter 2019 Results with Strong Organic Growth and Guides Third Quarter Revenue Increase with Continued Organic Growth
Tower Semiconductor Ltd. - Ordinary Shares (TSEM)
Last tower semiconductor ltd. - ordinary shares earnings: 2/18 04:06 am
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ir.towerjazz.com
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Source: GlobeNewswire
MIGDAL HAEMEK, Israel, July 29, 2019 (GLOBE NEWSWIRE) -- TowerJazz (NASDAQ: TSEM & TASE: TSEM) reported today its results for the second quarter ended June 30, 2019. Second Quarter Results OverviewRevenues for the second quarter of 2019 were $306 million, reflecting 11% quarter over quarter organic growth (defined as total revenue excluding revenues from Panasonic in the TPSCo fabs and revenues from Maxim in the San Antonio fab). This organic growth of $20 million is offsetting to a great extent the $22 million Panasonic revenue reduction per the revised terms of the previously announced Panasonic contract extension and a Maxim revenue reduction per the San Antonio fab acquisition agreement. Gross and operating profits for the second quarter of 2019 were $53 million and $18 million, respectively, as compared to $63 million and $27 million, respectively, in the prior quarter. The 11% organic revenue growth and efficiencies enabled the company to mitigate approximately 55% and 60% o
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- 4/22/24 - Form 20-F
- 3/21/24 - Form 6-K
- TSEM's page on the SEC website