Lisa Thompson
Growth at reasonable price, research analyst, tech, small-cap

Tower Semiconductor: Joint Venture Kicks Up Growth

Q2 2014 Beats with Higher-than-Expected Revenues

Tower Semiconductor (NASDAQ:TSEM) reported its first quarter with the Panasonic (OTCPK:PCRFY) joint venture (TPS) included. It reported revenues of $234.1 million, versus $125.2 million last year up 87% and versus $112.6 million in the first quarter of 2014, which had no joint venture revenues. This was $9 million higher than we expected. For the third quarter, ending September 30, 2014, the company guided to a range of $213-236 million in revenues with a mid-point of $225 million, which is $5 million higher than our previous estimate. This number is sequentially lower because of the drop off in Micron revenues that are expected to now be zero going forward from $31

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
FREESA PRO MEMBERS
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details