MIGDAL HAEMEK, Israel (AP) — MIGDAL HAEMEK, Israel (AP) — Tower Semiconductor Ltd. (TSEM) on Wednesday reported profit of $80.1 million in its fourth quarter.
The Migdal Haemek, Israel-based company said it had net income of 70 cents per share. Earnings, adjusted for stock option expense, were 78 cents per share.
The chipmaker posted revenue of $440.2 million in the period.
For the year, the company reported profit of $220.5 million, or $1.94 per share. Revenue was reported as $1.57 billion.
For the current quarter ending in March, Tower Semiconductor said it expects revenue in the range of $412 million.
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