TowerJazz quarterly revenue decrease 5%
7 May, 2018
Revenues for the first quarter of 2018 were $313 million. The company forecasts quarter over quarter growth throughout 2018
Following a sequential growth during the recent quarters, TowerJazz may begin to slow down. Revenues for the first quarter of 2018 were $313 million, reflecting a 5% decrease as compared to $330 million in the first quarter of 2017. Gross profits were $66 million, as compared to $89 million, as compared to $85 million in the first quarter of 2017. Net profit for the first quarter of 2018 was $26 million, as compared to $46 million in the first quarter of 2017.
TowerJazz expects revenues for the second quarter of 2018 to be $335 million, with an upward or downward range of 5%, representing a sequential growth of 7%. Russell Ellwanger, CEO of TowerJazz, said: “This past quarter we formally began projects and/or were informed of wins for several varied industry defining projects with respective customer market leaders.
“The quarter, as forecasted, was impacted by seasonality and some activities, moving our offering to higher value richer mixes. Present customer forecasts show continued quarter over quarter growth throughout 2018, with a fourth quarter demonstrating over 25% organic business unit growth against the first quarter.”
Semiconductor’s Production Services Provider
TowerJazz manufactures analog integrated circuits with geometries ranging from 1.0 to 0.13-micron, offering customizable process technologies for more than 300 customers worldwide in various markets including RF, high-performance analog, power, imaging, consumer, automotive, medical, and industrial as well as aerospace and defense.
With approximately 4,500 employees worldwide, TowerJazz operates two manufacturing facilities in Israel (150mm and 200mm), two in the U.S. (200mm) and three additional facilities in Japan (two 200mm and one 300mm) through TowerJazz Panasonic Semiconductor Co. (TPSCo), established with Panasonic Corporation of which TowerJazz has the majority holding.
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