MIGDAL HAEMEK, Israel (AP) — MIGDAL HAEMEK, Israel (AP) — Tower Semiconductor Ltd. (TSEM) on Thursday reported net income of $44.6 million in its first quarter.
On a per-share basis, the Migdal Haemek, Israel-based company said it had net income of 40 cents. Earnings, adjusted for stock option expense and amortization costs, were 46 cents per share.
The chipmaker posted revenue of $327.2 million in the period.
For the current quarter ending in June, Tower Semiconductor said it expects revenue in the range of $350 million.
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