Ladies and gentlemen, thank you for standing by. Welcome to the TowerJazz Third Quarter 2019 Results Conference Call. Following management's prepared statements, instructions will be given for the question-and-answer session.
As a reminder, this conference is being recorded, November 13, 2019. Joining us today are Mr. Russell Ellwanger TowerJazz's CEO and Mr. Oren Shirazi, CFO.
I would now like to turn the call over to Ms. Noit Levy, Vice President, Investor Relations and Corporate Communications. Ms. Levy, please go ahead.
Thank you and welcome to TowerJazz financial results conference call for the third quarter of 2019. Before we begin, I would like to remind you that some statements made during this call may be forward-looking and are subject to uncertainties and risk factors that could cause actual results to be different from those currently expected. These uncertainties and risk factors are fully disclosed in our Forms 20-F, F-4, F-3 and 6-K filed with the Securities and Exchange Commission as well as filings with the Israeli Securities Authority. They are also available on our website. TowerJazz assumes no obligation to update any such forward-looking statements.
Please note that the third quarter of 2019 financial results have been prepared in accordance with US GAAP.
The financial tables and data in today's earnings release and in this earnings call also include certain adjusted financial information that may be considered non-GAAP financial measures under Regulation G and related reporting requirements as established with the Securities and Exchange Commission. The financial tables include a full explanation of these measures and the reconciliations of these non-GAAP measures to the GAAP financial measures.
Now I'd like to turn the call to our CEO, Mr. Russell Ellwanger. Russell, please go ahead.
Russell C. Ellwanger
Thank you, Noit. Welcome to our conference call. During the third quarter of 2019, our revenues were $312 million with EBITDA of $75 million and free cash flow of $30 million. These numbers represent quarter-on-quarter up 4% and year-over-year, 11% organic revenue growth being defined as total revenue excluding revenues from Panasonic and the TPSCo fabs and revenues from Maxim in the San Antonio fab .
In addition, the recorded sequential increase in gross and operating profit, EBITDA, net profit and free cash flow. This profit and cash flow generation continue to strengthen our balance sheet, and at quarter end, we recorded record shareholders' equity of over $1.32 billion as compared to $1.24 billion at year's begin [Phonetic] with over $400 million in net cash.
Our fourth quarter guidance is $312 million with an upward or downward range of 5%. Oren will provide full financial details later in the call.
Now to discuss our businesses. First, the analog IC Business Unit. The third quarter saw solid quarter-over-quarter growth in our RF mobile segment led by a steep production ramp in 300 millimeter RFSOI which has now resulted in the highest RFSOI revenue in the company's history.
Looking into 2020, a strong design win pipeline in both 200 millimeter and 300 millimeter RFSOI coupled with the 300
Vice President, Investor Relations and Corporate Communications
Russell C. Ellwanger
Chief Executive Officer and Director
Chief Financial Officer
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