MIGDAL HAEMEK, Israel (AP) — MIGDAL HAEMEK, Israel (AP) — Tower Semiconductor Ltd. (TSEM) on Wednesday reported earnings of $54.6 million in its third quarter.

The Migdal Haemek, Israel-based company said it had profit of 49 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 57 cents per share.

The chipmaker posted revenue of $370.5 million in the period.

For the current quarter ending in December, Tower Semiconductor said it expects revenue in the range of $387 million.

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