Tower Semiconductor Reports First Quarter 2020 with Year over Year Organic Revenue Growth 



TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(dollars in thousands)
       
   T h r e e  m o n t h s  e n d e d
   March 31,  December 31, March 31,
   2020  2019  2019
       
CASH FLOWS - OPERATING ACTIVITIES      
       
  Net profit for the period $ 16,031  $ 19,596  $ 26,400 
       
  Adjustments to reconcile net profit for the period      
   to net cash provided by operating activities:      
    Income and expense items not involving cash flows:      
     Depreciation and amortization  56,796   56,404   52,014 
     Effect of exchange rate differences on debentures  (4,069 )  994   4,001 
     Other income, net  (14 )  (3,582 )   (17 )
      Changes in assets and liabilities:            
        Trade accounts receivable   11,685     (3,458 )   18,606  
        Other assets   7,355     3,133     (3,705 )
        Inventories   (6,171 )   (4,728 )   (3,395 )
        Trade accounts payable   (6,199 )   2,755     (2,651 )
        Deferred revenue and customers' advances   (571 )   (860 )   (10,685 )
        Other current liabilities   (3,248 )   (1,095 )   (4,803 )
        Long-term employee related liabilities   (31 )   (317 )   68  
        Deferred tax, net and other long-term liabilities   (3,228 )   2,719     (965 )
          Net cash provided by operating activities   68,336     71,561     74,868  
             
CASH FLOWS - INVESTING ACTIVITIES            
  Investments in property and equipment, net   (62,907 )   (43,704 )   (41,718 )
  Investments in deposits, marketable securities and other assets, net   (85,356 )   (87,530 )   (6,726 )
          Net cash used in investing activities   (148,263 )   (131,234 )   (48,444 )
             
CASH FLOWS - FINANCING ACTIVITIES            
             
  Debt repaid, net   (24,197 )   (3,247 )   (3,074 )
  Exercise of options   87     1,402     397  
          Net cash used in financing activities   (24,110 )   (1,845 )   (2,677 )
             
EFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGE   (176 )   (557 )   (740 )
             
             
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS   (104,213 )   (62,075 )   23,007  
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD   355,561     417,636     385,091  
             
CASH AND CASH EQUIVALENTS - END OF PERIOD $ 251,348   $ 355,561   $ 408,098  
             



« Previous Page 1 | 2 | 3 | 4 | 5             



Review Article Be the first to review this article
Featured Video
Jobs
Sr Engineer - RF/mmWave IC Design for Global Foundaries at Santa Clara, California
Principle Engineer (Analog-Mixed-Signal Implementation) for Global Foundaries at Santa Clara, California
Test and Measurement System Architect for Xilinx at San Jose, California
Senior HID Sensor Algorithm Architect for Apple Inc at Cupertino, California
Senior Staff Field Application Engineer for Global Foundaries at Santa Clara, California
Upcoming Events
Strategic Materials Conference (SMC) 2021 at DoubleTree by Hilton san jose CA - Sep 27 - 29, 2021
Embedded Systems Week at Virtual Conference Virtual Conference - Oct 10 - 15, 2021
DVCon Europe 2021 at Germany - Oct 26 - 27, 2021
SemIsrael Expo 2021 - November 9, 2021 at Avenue Convention Center, Israel Haifa Israel - Nov 9, 2021



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise