TowerJazz Updates on its CIS Business

SeekingAlpha transcript of TowerJazz Q4 2019 earnings call updates on the foundry's image sensor business:

"Moving to our Sensors Business unit, despite in organic revenue decline of about 20% in the industrial sensor market, predominantly a consequence of the trade war, we were able to compensate to great extent, to have a decrease of 4% year-over-year organic revenues. The set compensation was via the growth of our X-ray medical sensors market and our high-end visible camera market. This growth should continue in 2020 and with an expected recovery and industrial sensor market, we target a double-digit organic growth in this business in 2020.

2019 was an exciting year for our future both in state-of-the-art technology developments and in customer engagements. As announced, we have released our 300 millimeter back side illumination hybrid bonding stack way for technology with copper to copper electrical contacts, and a pitch smaller than 2.5 micron, the smallest in the world. This technology allows a connection of a BSI sensor to a CMOS logic and analog wafer at the pixel level. We won two major customers that are using this technology for the mobile time of flight market both for face recognition and front looking 3D application.

These products will grow into mass volume production in 2022. The same technology will be used with our existing customers for high end photography market both in high end DSLR and mirrorless cameras and in cinematography.

In addition, we engage with large optical fingerprint sensor providers on the development of under OLED and under LCD sensors utilizing our high performing CIS technologies and our 200 -millimeter fabs at the point when eight micron technology node. These products are expected to wrap in the second half of this year and to further grow to high volumes in 2021 and beyond."