Tower Semiconductor Clocks 19% Revenue Growth In Q4

February 17, 2022 5:38 AM | 1 min read |

Tower Semiconductor Ltd TSEM reported fourth-quarter FY21 revenue growth of 19% year-on-year to $412.1 million, missing the consensus of $430.2 million. It posted a 28% organic growth.
The gross profit was $100 million, up 44% Y/Y.
Adjusted EPS of $0.55 beat the consensus of $0.45.
It generated $134 million in operating cash flow. It held $764.6 million in cash and equivalents.
On February 15, Intel Corp INTC agreed to acquire Tower Semiconductor at a 60% premium.
Due to its impending acquisition, Tower Semiconductor did not provide its guidance for Q1 FY22.
Price Action: TSEM shares traded lower by 0.76% at $46.91 in the premarket session on the last check Thursday.