Tower Semiconductor Ltd (TSEM.OQ)
15 Jun 2018
Mon, May 7 2018
* Shares slide 17 percent (Adds details, share reaction, CEO comments)
JERUSALEM, May 7 Israeli chip manufacturer TowerJazz on Monday reported a deeper drop in quarterly net profit than expected but said it expected business to rebound during the rest of the year.
TEL AVIV Israeli chip maker TowerJazz reported higher-than-expected fourth quarter net profit on Thursday but its guidance for revenues in the first quarter was lower than forecasts, sending its shares down.
* Company expects 2018 revenue to surpass 2017 (Adds comments from CEO, details, share reaction)
* REPORTS FISCAL YEAR 2017 RECORD RESULTS IN REVENUES, GROSS PROFIT, OPERATING PROFIT, EBITDA, NET PROFIT, CASH FROM OPERATIONS AND FREE CASH FLOW
TEL AVIV, Feb 22 Israeli chip manufacturer TowerJazz on Thursday reported higher quarterly net profit that beat expectations and forecast growth throughout 2018.
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