Tower Semiconductor Clocks 19 Percent Revenue Growth in Q4

By Benzinga
Benzinga
Benzinga
February 18, 2022 Updated: February 18, 2022

Tower Semiconductor Ltd. reported fourth-quarter FY21 revenue growth of 19 percent year-on-year to $412.1 million, missing the consensus of $430.2 million. It posted a 28 percent organic growth.

The gross profit was $100 million, up 44 percent 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. agreed to acquire Tower Semiconductor at a 60 percent premium.

Due to its impending acquisition, Tower Semiconductor did not provide its guidance for Q1 FY22.

By Anusuya Lahiri

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