TowerJazz Reports Full Year 2019 Results with 5% Organic Revenue Growth; Expects Revenue Growth for 2020
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Tower Semiconductor (TSEM) Misses Q4 EPS by 3c, Revenues Miss; Provides Q1 Revenue Outlook
February 18, 2020 9:33 AM ESTTower Semiconductor (NASDAQ: TSEM) reported Q4 EPS of $0.22, $0.03 worse than the analyst estimate of $0.25. Revenue for the quarter came in at $306 million versus the consensus estimate of $312.07 million.
Revenues for the fourth quarter of 2019 were $306 million as compared to $334 million in the fourth quarter of 2018, reflecting $36 million non-organic revenue reduction (mainly as a result of the March 2019 announced Panasonic renewed contract), offset by $8 million year over year organic growth (defined as total revenue excluding revenues from Panasonic in the TPSCo fabs and revenues from Maxim in the San Antonio fab), reflecting 4% organic... More
