MagnaChip Reports Second Quarter 2015 Financial Results

CONTACTS:


In the United States:

In Korea:

Robert Pursel

Chankeun Park

Director of Investor Relations

Senior Manager, Public Relations

Tel. +1-408-625-1262

Tel. +82-2-6903-3195

robert.pursel@magnachip.com

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,

2015



March 31,

2015



June 30,

2014


Net sales


$

162,015



$

164,885



$

172,070


Cost of sales



126,729




129,908




136,613















Gross profit



35,286




34,977




35,457


Gross profit %



21.8 %




21.2 %




20.6 %















Operating expenses













Selling, general and administrative expenses



28,588




25,030




30,746


Research and development expenses



21,931




22,160




24,059


Total operating expenses



50,519




47,190




54,805















Operating loss



(15,233)




(12,213)




(19,348)















Interest expense, net



(3,933)




(4,063)




(4,007)


Foreign currency gain (loss), net



(12,296)




(3,176)




38,424


Other income, net



234




556




597


Income (loss) before income taxes



(31,228)




(18,896)




15,666















Income tax expenses (benefits)



(602)




1,133




656















Net income (loss)


$

(30,626)



$

(20,029)



$

15,010















Earnings (loss) per common share :













- Basic


$

(0.90)



$

(0.59)



$

0.44


- Diluted


$

(0.90)



$

(0.59)



$

0.43















Weighted average number of shares—Basic



34,092,402




34,056,468




34,056,359


Weighted average number of shares—Diluted



34,092,402




34,056,468




35,177,915



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