MagnaChip Reports Second Quarter 2015 Financial Results

 

 


MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES

RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA AND ADJUSTED NET INCOME

(In thousands of US dollars, except share data)

(Unaudited)








Three Months Ended




June 30,

2015



March 31,

2015



June 30,

2014


Net income (loss)


$

(30,626)



$

(20,029)



$

15,010


Adjustments:













Depreciation and amortization



6,797




6,870




7,754


Interest expense, net



3,933




4,063




4,007


Income tax expenses (benefits)



(602)




1,133




656


Equity-based compensation expense



1,792




185




455


Foreign currency loss (gain), net



12,296




3,176




(38,424)


Derivative valuation loss, net



306







36


Restatement related expenses



5,168




7,058




8,477















Adjusted EBITDA


$

(936)



$

2,456



$

(2,029)


Adjusted EBITDA per common share:













- Diluted


$

(0.03)



$

0.07



$

(0.06)


Weighted average number of shares– Diluted



34,092,402




34,056,468




34,056,359















Net income (loss)


$

(30,626)



$

(20,029)



$

15,010


Adjustments:













Amortization of intangibles









371


Equity-based compensation expense



1,792




185




455


Foreign currency loss (gain), net



12,296




3,176




(38,424)


Derivative valuation loss, net



306







36


Restatement related expenses



5,168




7,058




8,477















Adjusted net loss


$

(11,064)



$

(9,610)



$

(14,075)















Adjusted net loss per common share:













- Diluted


$

(0.32)



$

(0.28)



$

(0.41)


Weighted average number of shares — Diluted



34,092,402




34,056,468




34,056,359



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