Tower Semiconductor Reports Second Quarter 2020 with Quarter over Quarter Revenues and Margins Growth


TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES 
RECONCILIATION FROM GAAP OPERATING PROFIT TO EBITDA (UNAUDITED) 
(dollars in thousands) 
              
              
              
EBITDA CALCULATION:       
         Three months ended 
         June 30,  March 31,  June 30, 
         2020  2020  2019 
              
              
              
              
  GAAP OPERATING PROFIT $ 22,127 $ 16,438 $ 17,757  
    Depreciation of fixed assets   55,175   51,484   47,966  
    Stock based compensation   3,795   4,543   3,884  
    Amortization of acquired intangible assets 493   310   494  
                           
  EBITDA     $ 81,590 $ 72,775 $ 70,101  
                           
                           
                           
                Six months ended
     
                June 30,   June 30,      
                2020   2019      
                           
  GAAP OPERATING PROFIT $ 38,565 $ 45,099      
    Depreciation of fixed assets   106,659   94,007      
    Stock based compensation   8,338   7,707      
    Amortization of acquired intangible assets 803   2,135      
                           
  EBITDA     $ 154,365 $ 148,948      
                           

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