Tower Semiconductor: Q4 Earnings Snapshot

MIGDAL HAEMEK, Israel (AP) — MIGDAL HAEMEK, Israel (AP) — Tower Semiconductor Ltd. (TSEM) on Monday reported earnings of $55.1 million in its fourth quarter.

On a per-share basis, the Migdal Haemek, Israel-based company said it had net income of 49 cents. Earnings, adjusted for stock option expense and amortization costs, were 59 cents per share.

The chipmaker posted revenue of $387.2 million in the period.

For the year, the company reported profit of $207.9 million, or $1.85 per share. Revenue was reported as $1.44 billion.

For the current quarter ending in March, Tower Semiconductor said it expects revenue in the range of $358 million.

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