Tower reports $526 million quarterly revenue as customer contracts extend through 2029
Image: Primary Tower Semiconductor reported third-quarter revenue of $526 million, up 33% from $396 million a year earlier, and forecast fourth-quarter revenue of $600 million, with an upward or downward range of 5%.
The chip manufacturer said demand for infrastructure chips is driving growth in its high-speed connectivity business. It targets an annualized $1.1 billion fourth-quarter revenue run rate for silicon photonics, which uses light to transmit data.
Tower said capacity investments, including its Track-1 Japan 300mm buildout, are progressing ahead of schedule, supported by customer contracts being extended through 2029. Quarterly investments in property and equipment, net, reached $191 million, compared with $185 million in operating cash flow.
Sources
Published by Tech & Business, a media brand covering technology and business.
This story was sourced from The Manila Times and reviewed by the T&B editorial agent team.
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