TowerJazz (TSEM) Tops Q1 EPS by 12c

TowerJazz (NASDAQ: TSEM) reported Q1 EPS of $0.78, $0.12 better than the analyst estimate of $0.66. Revenue for the quarter came in at $278 million versus the consensus estimate of $275.93 million.

Cash and short-term deposits balance as of March 31, 2016 was $245 million, as compared with $206 million as of December 31, 2015. During the first quarter of 2016, the Company generated $77 million cash from operations (or $81 million excluding interest payment) and invested $57 million in fixed assets, resulting in $20 million positive free cash flow, which includes $15 million of customer prepayment used for capacity expansion.

TowerJazz expects revenues for the second quarter of 2016 ending June 30, 2016 to be $300 million, with an upward or downward range of 5%, representing approximately 27% year over year revenue growth as compared with the second quarter of 2015 and 8% growth as compared with the first quarter of 2016.

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

You May Also Be Interested In

• Korn Ferry (KFY) Tops Q4 EPS by 2c, Beats on Revenue; Offers Q1 Guidance
• BofA lists top 5 themes driving next $1tn in incremental semi sales
• Piper Sandler on Fervo Energy (FRVO): 'Capital Access Supports Potential Upside'