Tower Semiconductor (TSEM) Tops Q1 EPS by 2c; Guides Q2 Revs Above Views

Tower Semiconductor (NASDAQ: TSEM) reported Q1 EPS of $0.45, $0.02 better than the analyst estimate of $0.43. Revenue for the quarter came in at $330 million versus the consensus estimate of $330 million.

• Revenues of $330 million, up 19% year over year;
• Gross profit of $85 million, up 38% year over year;
• Operating profit of $53 million, up 71% year over year;
• EBITDA of $101 million, up 30% year over year;
• Net profit of $46 million, up 83% year over year (excluding San Antonio acquisition gain);
• Record free cash flow of $42 million with cash from operations of $82 million;
• Second quarter revenue guidance with mid-range of $345 million, up 13% year over year; targeting continued growth throughout the year. (*** consensus is $339.87 million)

For earnings history and earnings-related data on Tower Semiconductor (TSEM) click here.

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