TowerJazz Reports Increase in Net Profit

 

TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES 
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) 
(dollars in thousands) 
                
         Nine months ended  Three months ended 
         September
30,
  September
30,
  September
30,
  September
30,
 
         2017   2016   2017   2016  
                
CASH FLOWS - OPERATING ACTIVITIES         
                
Net profit for the period
$ 153,014  $ 156,913  $ 54,241  $ 52,018  
                
Adjustments to reconcile net profit for the period
         
to net cash provided by operating activities:
         
Income and expense items not involving cash flows:
         
Depreciation and amortization
  157,101   145,830   55,014   49,180  
Effect of indexation, translation and fair value measurement on debt
  10,584   10,974   (1,177 )  2,822    
Other expense (income), net
  (400 )   (9,443 )   253     (5,081 )  
Gain from acquisition, net
  --       (51,298 )   --       --      
Changes in assets and liabilities:
                 
Trade accounts receivable
  (7,352 )   (11,904 )   361     (1,469 )  
Other current assets     (8,766 )   (326 )   2,980     4,328    
Inventories
  (4,369 )   (21,769 )   (4,636 )   (6,245 )  
Trade accounts payable
  (5,863 )   12,897     4,795     2,624    
Deferred revenue and customers' advances
  (3,921 )   17,947     9,378     (5,377 )  
Other current liabilities
  (9,984 )   2,303     (13,760 )   (6,938 )  
Long-term employee related liabilities
  (765 )   (413 )   (274 )   (25 )  
Deferred tax liability, net
  (8,929 )   (6,078 )   (3,259 )   573    
Net cash provided by operating activities
  270,350   (c) 245,633     103,916   (c)   86,410    
                               
CASH FLOWS - INVESTING ACTIVITIES                  
                               
Investments in property and equipment, net
  (123,368 )   (166,752 )   (41,708 )   (54,896 )  
Long-term deposits and other investments, including marketable securities
  (49,869 )   17,049     (49,869 )   (12,551 )  
Net cash used in investing activities
  (173,237 )   (149,703 )   (91,577 )   (67,447 )  
                               
CASH FLOWS - FINANCING ACTIVITIES                  
                               
Debt received (repaid), net
  (33,392 )   42,744     (15,932 )   8,554    
Exercise of warrants and options, net
  28,037     28,159     1,027     21,918    
D ividend payment to Panasonic     (4,378 )   (2,563 )   --       --      
Net cash provided by (used in) financing activities
  (9,733 )   68,340     (14,905 )   30,472    
                               
EFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGE   3,650     22,988     (630 )   2,336    
                               
                               
IN CREASE (DECREASE) IN CASH AND SHORT-TERM DEPOSITS   91,030     187,258     (3,196 )   51,771    
CA SH AND SHORT-TERM DEPOSITS - BEGINNING OF PERIOD   389,377     175,575     483,603     311,062    
                               
CASH AND SHORT-TERM DEPOSITS - END OF PERIOD $ 480,407   $ 362,833   $ 480,407   $ 362,833    
                               
                               
(c) Net cash provided by operating activities for the nine months and three months periods ended September 30, 2017 included $18,000 received from Tacoma as announced on August 21, 2017.
                                       



« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7             



Review Article Be the first to review this article
SolidCAM - See For Yourself

Featured Video
Editorial
Jobs
Failure Analysis Engineer for Flextronics at Milpitas, California
Mechanical Engineer for Flextronics at Milpitas, California
Geodesign Manager for Design Workshop at Aspen, Colorado
Upcoming Events
Robotics Summit & Expo at Seaport World Trade Center 1 Seaport Lane Boston MA - Sep 24 - 25, 2020
DEVELOP 3D Live 2020 New Date November 3rd at Sheffield University ctagon and INOX Building, Durham Road Sheffield United Kingdom - Nov 3, 2020
Digital Twin 2020 - Now in November 2020 at Melbourne FL - Nov 4 - 5, 2020
Sensors Expo & Conference at McEnery Convention Center SAN JOSE CA - Nov 16 - 18, 2020
Kenesto: 30 day trial



© 2020 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise