Tower record 1Q22 revenues of $421 Million, a 21% YoY
Tower Semiconductor reported first quarter 2022 revenue of USD 421 million, an increase of 21% compared to USD 347 million in the first quarter of 2021.
Organic revenue for the first quarter of 2022 – excluding revenues from Nuvoton in the Japanese fabs and from Maxim in the San Antonio fab – grew by 29% year over year. Revenue for the fourth quarter of 2021 was USD 412 million.
Gross profit for the first quarter of 2022 amounted to USD 105 million, 50% higher than USD 70 million recorded in the first quarter of 2021. Gross profit in the fourth quarter of 2021 was USD 100 million.
Operating profit for the first quarter of 2022 was USD 63 million, 94% higher than the USD 32 million recorded in the first quarter of 2021. Operating profit in the fourth quarter of 2021 was USD 56 million.
Net profit for the first quarter of 2022 ended up at USD 54 million 91% higher than USD 28 million recorded in the first quarter of 202. Net profit for the fourth quarter of 2021 was USD 52 million.
