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Tower Semiconductor: 2Q Earnings Snapshot

July 29, 2019

MIGDAL HAEMEK, Israel (AP) _ Tower Semiconductor Ltd. (TSEM) on Monday reported second-quarter profit of $20.9 million.

On a per-share basis, the Migdal Haemek, Israel-based company said it had profit of 20 cents. Earnings, adjusted for non-recurring costs and amortization costs, came to 24 cents per share.

The chipmaker posted revenue of $306.1 million in the period.

For the current quarter ending in October, Tower Semiconductor said it expects revenue in the range of $312 million.

Tower Semiconductor shares have climbed 24% since the beginning of the year. The stock has declined slightly more than 9% in the last 12 months.

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