MIGDAL HAEMEK, Israel (AP) — MIGDAL HAEMEK, Israel (AP) — Tower Semiconductor Ltd. (TSEM) on Wednesday reported profit of $80.1 million in its fourth quarter.

The Migdal Haemek, Israel-based company said it had net income of 70 cents per share. Earnings, adjusted for stock option expense, were 78 cents per share.

The chipmaker posted revenue of $440.2 million in the period.

For the year, the company reported profit of $220.5 million, or $1.94 per share. Revenue was reported as $1.57 billion.

For the current quarter ending in March, Tower Semiconductor said it expects revenue in the range of $412 million.

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