Tower Semiconductor: 3Q Earnings Snapshot

MIGDAL HAEMEK, Israel (AP) _ Tower Semiconductor Ltd. (TSEM) on Monday reported third-quarter net income of $33.6 million.

The Migdal Haemek, Israel-based company said it had profit of 33 cents per share. Earnings, adjusted for non-recurring costs, were 37 cents per share.

The chipmaker posted revenue of $322.6 million in the period.

For the current quarter ending in December, Tower Semiconductor said it expects revenue in the range of $323 million to $357 million.

Tower Semiconductor shares have decreased 48 percent since the beginning of the year. The stock has fallen 46 percent in the last 12 months.

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