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Tower Semiconductor: 3Q Earnings Snapshot

November 12, 2020 GMT

MIGDAL HAEMEK, Israel (AP) _ Tower Semiconductor Ltd. (TSEM) on Thursday reported third-quarter net income of $15.2 million.

On a per-share basis, the Migdal Haemek, Israel-based company said it had profit of 14 cents. Earnings, adjusted for stock option expense and amortization costs, came to 18 cents per share.

The chipmaker posted revenue of $310.2 million in the period.

For the current quarter ending in December, Tower Semiconductor said it expects revenue in the range of $340 million.

Tower Semiconductor shares have fallen 4% since the beginning of the year. The stock has risen slightly more than 1% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TSEM at https://www.zacks.com/ap/TSEM