Tower Semiconductor Reports Impressive 2022 Annual Results

Tower Semiconductor has announced its financial results for the fourth quarter ended December 31, 2022. The company's annual revenue is expected to increase by 11.2% year-on-year, with gross profit increasing by 41.7% compared to the previous year. Operating profit and net income also experienced significant growth, increasing by 87.2% and 76.4%, respectively.

Fourth Quarter Results

Despite a year-on-year decrease in revenue for the fourth quarter, Tower Semiconductor reported a 25% year-on-year increase in gross profit. The company's operating profit also experienced a significant increase, rising by 77% compared to the same period last year. Net profit increased by 61% compared to the previous year, and operating cash flow was $133 million.

Investment and Debt Repayment

Tower Semiconductor invested $214 million in fixed assets in 2022 and repaid $78 million in debt. In the fourth quarter alone, the company invested $3800 million in fixed assets and repaid $11 million in debt.


Gaota Semiconductor Co., Ltd. was originally an Israeli semiconductor foundry headquartered in Migdal Emek, Israel. The company was acquired by Intel for $5.4 billion on February 15, 2021. Tower Semiconductor is a global specialty foundry leader, serving a broad range of markets such as automotive, medical, industrial, consumer, aerospace and defense, and more. The company has manufacturing facilities in Israel, the United States, and Japan.

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