Tower Semiconductor Reports First Quarter 2020 with Year over Year Organic Revenue Growth
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Tower Semiconductor (TSEM) Tops Q1 EPS by 1c, Revenues Beat; Offers 2Q Revenue Guidance Above Consensus
May 13, 2020 7:33 AM EDTTower Semiconductor (NASDAQ: TSEM) reported Q1 EPS of $0.20, $0.01 better than the analyst estimate of $0.19. Revenue for the quarter came in at $300.17 million versus the consensus estimate of $297.57 million.
First Quarter Results Overview
Revenues for the first quarter of 2020 were $300 million, reflecting 10% year over year organic revenue growth (organic revenues are defined as total revenue excluding revenues from Panasonic in the TPSCo fabs and revenues from Maxim in the San Antonio fab).Gross and operating profits for the first quarter of 2020 were $53 million and $16 million, respectively; the 10% year over year organic... More