MagnaChip Reports Second Quarter 2015 Financial Results

 

 

MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands of US dollars)

(Unaudited)



























Three Months

Ended



Six Months

Ended




June 30,

2015



June 30,

2015


June 30,

2014


Cash flows from operating activities












Net loss


$

(30,626)



$

(50,655)


$

(6,595)


Adjustments to reconcile net loss to net cash provided by (used in) operating activities












Depreciation and amortization



6,797




13,667



15,022


Provision for severance benefits



4,617




11,877



9,426


Bad debt expenses (reversal of allowance)



17




(3)



3,724


Amortization of debt issuance costs and original issue discount



162




324



301


Loss (gain) on foreign currency, net



12,967




17,146



(31,969)


Gain on disposal of investments








(1,524)


Stock-based compensation



1,792




1,977



1,072


Other



1,769




1,547



758


Changes in operating assets and liabilities












Accounts receivable



3,012




3,145



6,712


Inventories, net



3,324




1,623



(11,537)


Other receivables



(617)




5,523



781


Other current assets



3,888




2,235



4,590


Deferred tax assets



15




339



391


Accounts payable



(18,333)




(12,431)



4,556


Other accounts payable



(669)




(5,550)



(8,560)


Accrued expenses



(3,084)




(10,710)



20,260


Other current liabilities



(284)




(2,058)



1,230


Other non-current liabilities



(864)




(1,084)



292


Payment of severance benefits



(2,890)




(4,231)



(3,490)


Other



220




(147)



13


Net cash provided by (used in) operating activities



(18,787)




(27,466)



5,453














Cash flows from investing activities












Payment of hedge collateral



(6,555)




(6,555)




Proceeds from disposal of investments








2,003


Purchase of plant, property and equipment



(1,407)




(1,964)



(12,058)


Payment for intellectual property registration



(186)




(263)



(490)


Payment of guarantee deposits



(231)




(642)



(308)


Other



222




237



39


Net cash used in investing activities



(8,157)




(9,187)



(10,814)














Cash flows from financing activities












Proceeds from issuance of common stock



1,208




1,208



67


Net cash provided by financing activities



1,208




1,208



67


Effect of exchange rates on cash and cash equivalents



7,013




5,683



(7,315)














Net decrease in cash and cash equivalents



(18,723)




(29,762)



(12,609)














Cash and cash equivalents












Beginning of the period



91,395




102,434



153,606














End of the period


$

72,672



$

72,672


$

140,997














 

To view the original version on PR Newswire, visit: http://www.prnewswire.com/news-releases/magnachip-reports-second-quarter-2015-financial-results-300124459.html

SOURCE MagnaChip Semiconductor Corporation

Contact:
MagnaChip Semiconductor Corporation
Web: http://www.magnachip.com



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