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Recap: Tower Semiconductor Q1 Earnings

Shares of Tower Semiconductor (NASDAQ:TSEM) rose 6.8% in pre-market trading after the company reported Q1 results. Quarterly Results Earnings per share fell 31.03% year over year to $0.20, which beat the estimate of $0.19.

Benzinga · 05/13/2020 11:50

Shares of Tower Semiconductor (NASDAQ:TSEM) rose 6.8% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share fell 31.03% year over year to $0.20, which beat the estimate of $0.19.

Revenue of $300,171,000 less by 3.20% from the same period last year, which beat the estimate of $297,570,000.

Outlook

Tower Semiconductor expects Q2 sales of $310 million.

Conference Call Details

Date: May 13, 2020

Time: 08:18 PM ET

Webcast URL: https://edge.media-server.com/mmc/p/8am222mv

Price Action

Company's 52-week high was at $25.80

52-week low: $12.13

Price action over last quarter: down 5.49%

Company Profile

Tower Semiconductor Ltd is a pure-play specialty foundry that manufactures semiconductors. As a pure-play foundry, it focuses on producing integrated circuits (ICs), based on the design specifications of customers. The company's line of integrated circuits is incorporated into a variety of products and markets, including consumer electronics, personal computers, communications, automotive, and industrial and medical device products. Tower produces ICs alongside wholly-owned subsidiaries through fabrication facilities located in Japan. As a complement to its technology offerings, Tower offers services that enable a quick and accurate design cycle. To further assist customers with design and technical support, an integrated team helps clients through the manufacturing cycle.