FINANCIALS HIGHLIGHTS
Q1 2015
Strong revenue growth and margins
- Revenues of $226 million, up 71% year over year, including 33% organic growth (non-Micron and non-Panasonic)
- Organic top 10 customers’ revenue growth of approximately 31% year-over-year
- Record design wins for the first quarter and masks entering the factories, with masks’ growth of 37% year-over-year and 45% including TPSCo 3rd party business.
Quarterly Financial Highlights
- EBITDA of $51 million, 86% higher than the first quarter of 2014
- Recorded $81 million non-GAPP gross profit, reflecting 36% margins and an 81% year over year improvement. Targeting 40% by Q4’15.
- Non-GAAP net income of $50 million 2.5x times vs. 2014 first quarter
- Strong balance sheet financial ratios and record shareholders’ equity of $292 million, with 49% increase quarter over quarter
- Net debt reduction to $162 million vs. $406M as of March 31, 2014 with present net debt to EBITDA ratio of 0.8X
- Cash on hand as of March 31, 2015 of $134M
Q2 2015 Revenue Guidance
- Mid range guidance of $235 million
- Targeting quarter over quarter growth throughout the year
TowerJazz Annual Revenues 2005–2015*
* 2015 annual revenues are based on Q2’15 mid range guidance
