FORM
6-K
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
For the month of
December 2009 No. 3
TOWER
SEMICONDUCTOR LTD.
(Translation
of registrant's name into English)
Ramat
Gavriel Industrial Park
P.O.
Box 619, Migdal Haemek, Israel 23105
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.
Form 20-F
S Form
40-F £
Indicate
by check mark whether the registrant by furnishing the information contained in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes £ No
S
On
December 21, 2009, the registrant announces on revising Fourth Quarter 2009
Guidance.
This Form
6-K is being incorporated by reference into all effective registration
statements filed by us under the Securities Act of 1933.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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TOWER
SEMICONDUCTOR LTD.
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Date:
December 21, 2009
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By:
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/s/ Nati Somekh
Gilboa
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Name:
Nati Somekh Gilboa
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Title:
Corporate Secretary
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TowerJazz
Revises Fourth Quarter Guidance
Completed First Milestone
in Asian Project
MIGDAL HAEMEK, Israel – December 21,
2009 – TowerJazz, the global specialty foundry leader, today announced it
expects fourth-quarter revenue to exceed the company’s previous guidance given
on November 9, 2009 due to successful completion of the first milestone in its
Asian project announced on November 23, 2009, in which TowerJazz is providing
know-how, training and turnkey manufacturing solutions.
The
company now expects fourth-quarter revenue to be between $98 million and $102
million, which is higher than the previous guidance of $90 million to $94
million, with a mid-range representing a 26% increase from previous quarter
revenues and a 29% increase year over year and representing company record
revenue.
Russell
Ellwanger, chief executive officer of TowerJazz, said: “To be in the guidance
range of $100 million is a significant achievement for the company. We foresee
the following quarters in 2010 to continue to grow on top of this new baseline
performance. I can imagine no place that is more exciting to work than at
TowerJazz.”
About
TowerJazz
Tower
Semiconductor Ltd. (NASDAQ: TSEM, TASE: TSEM), the global specialty
foundry
leader and its fully owned U.S. subsidiary Jazz Semiconductor,
operate collectively under the brand name TowerJazz,
manufacturing integrated circuits with geometries ranging from
1.0 to 0.13-micron. TowerJazz provides industry leading design
enablement tools to allow complex designs to be achieved quickly and more
accurately and offers a broad range of customizable process technologies
including SiGe, BiCMOS, Mixed-Signal and RFCMOS, CMOS Image Sensor,
Power Management (BCD), and Non-Volatile Memory (NVM) as well as MEMS
capabilities. To provide world-class customer service, TowerJazz maintains
two manufacturing facilities in Israel and one in the U.S. with additional
capacity available in China through manufacturing partnerships. For more
information, please visit www.towerjazz.com.
Safe
Harbor Regarding Forward-Looking Statements
This
press release includes forward-looking statements, which are subject to risks
and uncertainties. Actual results may vary from those projected or implied
by such forward-looking statements. A complete discussion of risks and
uncertainties that may affect the accuracy of forward-looking statements
included in this press release or which may otherwise affect Tower and/or Jazz’s
business is included under the heading "Risk Factors" in Tower’s most recent
filings on Forms 20-F, F-3, F-4 and 6-K, as were filed with the Securities and
Exchange Commission (the “SEC”) and the Israel Securities Authority and Jazz’s
most recent filings on Forms 10-K and 10-Q, as were filed with the SEC,
respectively. Tower and Jazz do not intend to update, and expressly disclaim any
obligation to update, the information contained in this release.
Contact:
Tower
Semiconductor
Noit
Levi, +972 4 604 7066
noitle@towersemi.com
or:
GK
Investor Relations
Kenny
Green, (646) 201 9246
info@gkir.com