Adjusted EBITDA, a non-GAAP financial measure, in the fourth quarter was $20.5 million or 11.8% of revenue, as compared with Adjusted EBITDA of $14.1 million or 7.8% of revenue in the fourth quarter of 2016, and compared with Adjusted EBITDA of $24.7 million or 14.0% of revenue in the third quarter of 2017.
Management believes that non-GAAP financial measures, when viewed in conjunction with GAAP results, can provide a meaningful understanding of the factors and trends affecting MagnaChip's business and operations and assist in evaluating our core operating performance. 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. A reconciliation of GAAP results to non-GAAP results is included in this press release.
Cash and cash equivalents totaled $128.6 million at the end of the fourth quarter, about flat with $128.4 million at the end of the third quarter of 2017.
|
The following table sets forth information relating to our operating segments: | ||||||||||||||||
|
| ||||||||||||||||
|
|
|
Three Months Ended |
|
|
Year Ended | |||||||||||
|
|
|
December 31,
|
|
|
December 31,
|
|
|
December 31,
|
|
|
December 31,
| |||||
|
Net Sales |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Foundry Services Group |
|
$ |
80,629 |
|
|
$ |
77,809 |
|
|
$ |
320,089 |
|
|
$ |
273,961 | |
|
Standard Products Group |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Display Solutions |
|
|
53,671 |
|
|
|
64,796 |
|
|
|
209,539 |
|
|
|
281,967 | |
|
Power Solutions |
|
|
40,241 |
|
|
|
37,718 |
|
|
|
149,836 |
|
|
|
131,468 | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Total Standard Products Group |
|
|
93,912 |
|
|
|
102,514 |
|
|
|
359,375 |
|
|
|
413,435 | |
|
All other |
|
|
39 |
|
|
|
139 |
|
|
|
208 |
|
|
|
573 | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Total net sales |
|
$ |
174,580 |
|
|
$ |
180,462 |
|
|
$ |
679,672 |
|
|
$ |
687,969 | |
