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MagnaChip Reports First Quarter 2012 Financial Results

SEOUL, South Korea CUPERTINO, Calif. April 25, 2012 March 31, 2012

http://photos.prnewswire.com/prnh/20120305/NY61184LOGO

$177.0 million $180.8 million $187.9 million

$49.9 million $51.5 million $56.5 million

March 2011 Sang Park

$15.3 million $0.40 $23.7 million $0.61 $22.5 million $0.57 $11.1 million

$6.5 million $0.17 $10.0 million $0.26 $15.7 million $0.40

Management believes that non-GAAP financial measures, when viewed in conjunction with GAAP results, can provide a more meaningful understanding of the factors and trends affecting MagnaChip’s business and operations. However, such non-GAAP financial measures have limitations and should not be considered as a substitute for net income or as a better indicator of our operating performance than measures that are presented in accordance with GAAP.

$160.6 million $8.4 million $39.9 million

Revenue by Segment

In thousands of US dollars

Three Months Ended

March 31, 2012

December 31, 2011

March 31, 2011

Semiconductor

Manufacturing Services

$      67,863

$        67,973

$      92,266

Display Solutions

83,225

90,045

74,464

Power Solutions

25,253

22,039

20,412

Other

661

769

779

Total Revenue

$     177,002

$      180,826

$     187,921

First

  • Power Solutions Revenue Grew 14.6% Sequentially and 23.7% Year-over-Year.
  • March 2012
  • $0.40 $0.17
  • October 11, 2011


  • $197 million to $203 million
  • Gross Profit, as a percent of revenue, will be in the range of 29.5% to 30.5%.


About MagnaChip Semiconductor
South Korea www.magnachip.com

Safe Harbor
March 8, 2012

CONTACT S

 

In the United States:

Robert Pursel

Director of Investor Relations

Tel. 408-625-1262

[email protected]

In Korea:

Chankeun Park

Senior Manager, Public Relations

Tel. +82-2-6903-3195

[email protected]

MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(I n thousands of US dollars, except share data)

(Unaudited)

Three Months Ended

March 31,

2012

December 31,

2011

March 31 ,

20 11

Net sales

$

177,002

$

180,826

$

187,921

Cost of sales

127,087

129,287

131,447

Gross profit

49,915

51,539

56,474

Gross profit %

28.2%

28.5%

30.1%

Selling, general and administrative expenses

18,209

17,627

15,401

Research and development expenses

19,831

18,652

18,498

Special expense for IPO incentive

12,146

Operating income

11,875

15,260

10,429

Other income (expense)

Interest expense, net

(5,580)

(5,644)

(7,111)

Foreign currency gain, net

11,109

16,832

21,359

Other

89

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