MagnaChip Reports Second Quarter 2013 Financial Results

A replay of the conference call will be available the same day and will run for 72 hours. The replay access numbers are 1-855-859-2056 or 1-404-537-3406. The access code is 18170301.

About MagnaChip Semiconductor Corporation

Headquartered in South Korea, MagnaChip is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high-volume consumer applications. MagnaChip believes it has one of the broadest and deepest ranges of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents, and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com. Information on or accessible through, MagnaChip's website is not a part of, and is not incorporated into, this release.

Safe Harbor for Forward-Looking Statements

Information in this release regarding MagnaChip's forecasts, business outlook, expectations and beliefs are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include statements about our ability to capitalize on improving market dynamics and future operating and financial performance including third quarter 2013 revenue and gross margin. All forward-looking statements included in this release are based upon information available to MagnaChip Semiconductor as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include general economic conditions, the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new products and technologies, ability to ramp new products into volume production, industry wide shifts in supply and demand for semiconductor products, industry and/or company overcapacity, effective and cost efficient utilization of manufacturing capacity, financial stability in foreign markets and the impact of foreign exchange rates, unanticipated costs and expenses or the inability to identify expenses which can be eliminated, compliance with U.S. and international trade and export laws and regulations by us and our distributors, and other risks detailed from time to time in MagnaChip's filings with the SEC, including our Form 10-K filed on February 22, 2013 and subsequent registration statements, amendments or other reports that we may file from time to time with the SEC and/or make available on our website.  MagnaChip assumes no obligation and does not intend to update the forward-looking statements provided, whether as a result of new information, future events or otherwise.

CONTACTS:


In the United States:

Robert Pursel

Director of Investor Relations

Tel. +1-408-625-1262

robert.pursel@magnachip.com

In Korea:

Chankeun Park

Senior Manager, Public Relations

Tel. +82-2-6903-3195

chankeun.park@magnachip.com

 

MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands of US dollars, except share data)

(Unaudited)

 



Three Months Ended



June 30,

2013



March 31,

2013



June 30,

2012

Net sales

$

215,289


$

205,298


$

202,634

Cost of sales


144,241



139,555



139,776










Gross profit


71,048



65,743



62,858

Gross profit %


33.0%



32.0%



31.0%










Selling, general and administrative expenses


19,709



19,791



20,093

Research and development expenses


21,131



20,582



19,762

Restructuring and impairment charges




2,446












Operating income


30,208



22,924



23,003










Other income (expenses)









Interest expense, net


(5,879)



(5,849)



(5,619)

Foreign currency loss, net


(20,978)



(22,558)



(10,586)

Other


(230)



(260)



701












(27,087)



(28,667)



(15,504)










Income (loss) before income taxes


3,121



(5,743)



7,499










Income tax expense (benefit)


(1,315)



1,662



3,159










Net income (loss)

$

4,436


$

(7,405)


$

4,340










Earnings (loss) per common share :









        - Basic

$

0.13


$

(0.21)


$

0.12

        - Diluted

$

0.12


$

(0.21)


$

0.12

Weighted average number of shares—Basic


35,474,001



35,539,413



36,713,569

Weighted average number of shares—Diluted


37,125,005



35,539,413



37,566,699




















« Previous Page 1 | 2 | 3 | 4 | 5  Next Page »



Review Article Be the first to review this article


Featured Video
Jobs
Senior Operations Environmental Analyst for EDP renewables at Houston, Texas
Engineer A, B or C (Transportation) for City of Austin at Austin, Texas
Geographic Information System Specialist for U. S. Dept. of the Interior at Washington, District Of Columbia
Geologist for U. S. Dept. of the Interior at Marsing, Idaho
Structural Engineer for Harris County Houston Tx at Houston, Texas
Structural Engineering Lead for K2M Design at Cleveland, Ohio
Upcoming Events
Smart GEO Expo 2019 at 513, Yeongdong-daero, Gangnam-gu (COEX, Hall C1 and C2) Seoul, Republic of Korea SEOUL SEOUL Korea (South) - Aug 7 - 9, 2019
2019 ENVI Analytics Symposium (EAS) at The Ritz-Carlton 1881 Curtis Street Denver CO - Aug 13 - 15, 2019
UAS Tech Forum 2019 at Salina KS - Aug 21 - 22, 2019
Palm Beach Countywide GIS Forum at Palm Beach County Convention Center 650 Okeechobee Blvd West Palm Beach FL - Aug 22 - 23, 2019
University of Denver GIS Masters Degree Online



Internet Business Systems © 2019 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise