Tower Semiconductor Sees Q1 Revenues In Line With View; Q4 Results Top Estimates

(RTTNews) - While reporting financial results for the fourth quarter on Tuesday, Tower Semiconductor (TSEM) said it expects revenues for the first quarter to be $358 million, with an upward or downward range of 5 percent.

On average, four analysts polled expect the company to report revenues of $355.54 million for the quarter.

For the fourth quarter, the company posted net profit attributable to the company of $55.14 million or $0.49 per share, up from $53.85 million or $0.48 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter was $0.59 per share, compared to $0.55 per share in the year-ago quarter.

Revenues for the quarter grew 10 percent to $387.19 million from $351.71 million in the same quarter last year.

The Street was looking for earnings of $0.53 per share on revenues of $387.09 million for the quarter.

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