(RTTNews) - While reporting financial results for the third quarter on Monday, Tower Semiconductor Ltd. (TSEM) said it expects revenues for the fourth quarter to be $400 million, with an upward or downward range of 5 percent.
On average, five analysts polled expect the company to report revenues of $434.35 million for the quarter.
For the third quarter, the company posted net profit attributable to the company of $53.64 million or $0.47 per share, down from $54.65 million or $0.49 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter was $0.55 per share, compared to $0.57 per share in the year-ago quarter.
Revenues for the quarter grew 6 percent to $395.67 million from $370.51 million in the same quarter last year.
The Street was looking for earnings of $0.54 per share on revenues of $394.98 million for the quarter.
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