MagnaChip Reports First Quarter 2018 Financial Results

 

 

MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In thousands of US dollars, except share data)

(Unaudited)



March 31,
2018


December 31,
2017


(In thousands of US dollars,
except share data)

Assets




Current assets




Cash and cash equivalents

$  123,136


$  128,575

Accounts receivable, net

88,854


92,026

Unbilled accounts receivable

39,161


Inventories, net

56,658


73,073

Other receivables

7,885


4,292

Prepaid expenses

13,807


9,250

Hedge collateral

2,700


7,600

Other current assets

11,972


15,444





Total current assets

344,173


330,260





Property, plant and equipment, net

205,076


205,903

Intangible assets, net

4,290


4,061

Long-term prepaid expenses

14,306


12,791

Deferred income tax assets

312


264

Other non-current assets

6,511


5,510





Total assets

$  574,668


$  558,789





Liabilities and Stockholders' Equity




Current liabilities




Accounts payable

$    69,540


$    65,940

Other accounts payable

10,023


10,261

Accrued expenses

44,908


51,746

Deferred revenue

13,202


8,335

Other current liabilities

1,296


1,860





Total current liabilities

138,969


138,142





Long-term borrowings, net

303,948


303,416

Accrued severance benefits, net

151,889


148,905

Other non-current liabilities

9,796


7,963





Total liabilities

604,602


598,426





Stockholders' equity




Common stock, $0.01 par value, 150,000,000 shares authorized, 42,749,168 shares issued and
   34,374,959 outstanding at March 31, 2018 and 42,563,808 shares issued and 34,189,599 outstanding
   at December 31, 2017

428


426

Additional paid-in capital

137,869


136,259

Accumulated deficit

(29,642 )


(40,889 )

Treasury stock, 8,374,209 shares at March 31, 2018 and December 31, 2017, respectively

(102,319 )


(102,319 )

Accumulated other comprehensive loss

(36,270 )


(33,114 )





Total stockholders' deficit

(29,934 )


(39,637 )





Total liabilities and stockholders' equity

$  574,668


$  558,789






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