Tower Semiconductor: Q4 Earnings Snapshot

Associated Press Finance
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MIGDAL HAEMEK, Israel (AP) — MIGDAL HAEMEK, Israel (AP) — Tower Semiconductor Ltd. (TSEM) on Wednesday reported profit of $53.8 million in its fourth quarter.

On a per-share basis, the Migdal Haemek, Israel-based company said it had net income of 48 cents. Earnings, adjusted for stock option expense and amortization costs, came to 55 cents per share.

The chipmaker posted revenue of $351.7 million in the period.

For the year, the company reported profit of $518.5 million, or $4.66 per share. Revenue was reported as $1.42 billion.

For the current quarter ending in March, Tower Semiconductor said it expects revenue in the range of $325 million.

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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

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