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MagnaChip Reports Fourth Quarter and Full Year 2010 Financial Results

SEOUL, South Korea CUPERTINO, Calif. Feb. 1, 2011 December 31, 2010

$186.8 million $209.4 million $162.3 million December 31, 2009 $770.4 million $560.1 million

$60.4 million $69.3 million $37.1 million December 31, 2009 $243.6 million $158.5 million

Sang Park

$36.9 million $39.8 million $40.0 million December 31, 2009 $152.2 million $142.2 million

$23.5 million $29.6 million $2.8 million December 31, 2009 $91.4 million $16.4 million

$12.3 million $61.5 million $818.8 million December 31, 2009 $74.1 million $839.1 million $41.4 million $16.7 million $809.0 million December 31, 2009 $809.0 million October 25, 2009 $798.0 million

$17.4 million $26.2 million $20.2 million December 31, 2009 $89.2 million $22.6 million

$39.7 million $45.7 million $32.6 million December 31, 2009 $157.9 million $98.7 million

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 Semiconductor’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.

$172.2 million $10.7 million $24.8 million $30.7 million $11.3 million December 31, 2009

Revenue by Segment

In thousands of US dollars

Successor

Predecessor

Three Months Ended

Two Months

Ended

One Month

Ended

December 31,

2010

September 30,

2010

December 31,

2009 Combined

December 31,

2009

October 25,

2009

Display Solutions

$    70,581

$     77,989

$     73,543

$     51,044

$     22,499

Power Solutions

18,398

17,801

5,943

4,746

1,197

Semiconductor

  Manufacturing Services

97,261

113,171

81,967

54,759

27,208

Other

532

487

834

533

301

Total Revenue

$   186,772

$   209,448

$   162,287

$   111,082

$    51,205

Revenue by Segment

In thousands of US dollars

Successor

Predecessor

12 Months Ended

T wo Months Ended

Ten Months Ended

December 31 ,

2010

December 31,

2009 Combined

December 31 ,

20 09

October 25 ,

20 09

Display Solutions

$       305,884

$      282,938

$       51,044

$       231,894

Power Solutions

57,273

12,373

4,746

7,627

Semiconductor

   Manufacturing Services

405,197

261,421

54,759

206,662

Other

2,051

3,334

533

2,801

Total Revenue

$       770,405

$      560,066

$      111,082

$       448,984

Non-GAAP Metrics

Adjusted EBITDA excludes charges related to depreciation and amortization associated with continuing operations, interest expense, income tax expense (benefit), restructuring and impairment charges, other restructuring charges, abandoned IPO expenses, reorganization items, inventory step-up, equity-based compensation expense, foreign currency gain (loss) and derivative valuation gain (loss). Adjusted net income (loss) excludes charges related to restructuring and impairment charges, other restructuring charges, abandoned IPO expenses, reorganization items, inventory step-up, equity-based compensation expense, amortization of intangible assets associated with continuing operations, foreign currency gain (loss) and derivative valuation gain (loss). A reconciliation of GAAP results to non-GAAP results is included following the financial statements below.

About MagnaChip Semiconductor

South Korea www.magnachip.com

Safe Harbor for Forward-Looking Statements

February 1, 2011

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 . + 82-3-6903-3195

[email protected]

MAGNACHIP SEMICONDUCTOR LLC AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

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

(Unaudited)

Successor

Combined

Successor

Predecesso r

Three Months

Ended

Three Months

Ended

Two Month s

Ended

One Month

Ended

December 31 ,

2010

September 30,

2010

December 31 ,

20 09

December 31 ,

20 09

October 25 ,

20 09

Net sales

$

186,772

$

209,448

$

162,287

$

111,082

$

51,205

Cost of sales

126,421

140,133

125,160

90,408

34,752

Gross profit

60,351

69,315

37,127

20,674

16,453

Gross p rofit %

32.3%

33.1%

22.9%

18.6%

32.1%

Selling, general and administrative expenses

16,566

16,202

20,017

14,540

5,477

Research and development expenses

19,331

23,119

19,957

14,741

5,216

Restructuring and impairment charges

958

442

Operating income (loss) from continuing operations

23,496

29,552

(2,847)

(8,607)

5,760

Other income (expenses)

Interest expense, ne t

(6,981)

(7,312)

(2,290)

(1,258)

(1,032)

Foreign currency gain (loss), net

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