U.S. Markets close in 2 hrs 2 mins

Tower Semiconductor: 4Q Earnings Snapshot

MIGDAL HAEMEK, Israel (AP) _ Tower Semiconductor Ltd. (TSEM) on Tuesday reported fourth-quarter net income of $38.1 million.

The Migdal Haemek, Israel-based company said it had profit of 36 cents per share. Earnings, adjusted for non-recurring costs, came to 41 cents per share.

The chipmaker posted revenue of $333.6 million in the period.

For the year, the company reported profit of $135.6 million, or $1.32 per share. Revenue was reported as $1.3 billion.

Tower Semiconductor shares have risen roughly 10 percent since the beginning of the year. The stock has fallen 51 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TSEM at https://www.zacks.com/ap/TSEM