MIGDAL HAEMEK, Israel (AP) _ Tower Semiconductor Ltd. (TSEM) on Tuesday reported fourth-quarter earnings of $20.7 million.

On a per-share basis, the Migdal Haemek, Israel-based company said it had profit of 19 cents. Earnings, adjusted for stock option expense and amortization costs, were 22 cents per share.

The chipmaker posted revenue of $305.7 million in the period.

For the year, the company reported profit of $90 million, or 84 cents per share. Revenue was reported as $1.23 billion.

For the current quarter ending in April, Tower Semiconductor said it expects revenue in the range of $300 million.

Tower Semiconductor shares have risen slightly since the beginning of the year. The stock has risen 49% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TSEM at https://www.zacks.com/ap/TSEM

Automated Insights, source Associated Press News