JERUSALEM Feb 13 Israeli chipmaker TowerJazz
reported a doubling of quarterly net profit that beat
estimates, boosted by robust demand from existing and new
TowerJazz said on Monday it earned 52 cents per
diluted share excluding one-time items in the fourth quarter, up
from 27 cents a share a year earlier. Revenue grew 34 percent to
a record $340 million.
The company was forecast to earn 48 cents a share ex-items
on revenue of $339.9 million, according to Thomson Reuters
It projects first-quarter 2017 revenue of $330 million,
plus or minus 5 percent, for a 19 percent annual gain.
(Reporting by Steven Scheer; Editing by Tova Cohen)