CONTACTS: |
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In the United States: Bruce Entin Investor Relations Tel. +1-408-625-1262 | In Korea: Chankeun Park Director, Public Relations Tel. +82-2-6903-5223 |
MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES | |||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
(In thousands of US dollars, except share data) | |||||||||||||||
(Unaudited) | |||||||||||||||
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| Three Months Ended |
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| June 30, 2019 |
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| March 31, 2019 |
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| June 30, 2018 |
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Net sales |
| $ | 205,145 |
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| $ | 157,380 |
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| $ | 199,685 |
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Cost of sales |
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| 161,305 |
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| 134,679 |
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| 145,831 |
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Gross profit |
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| 43,840 |
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| 22,701 |
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| 53,854 |
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Gross profit % |
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| 21.4 | % |
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| 14.4 | % |
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| 27.0 | % | |||
Operating expenses |
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Selling, general and administrative expenses |
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| 16,975 |
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| 18,070 |
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| 18,935 |
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Research and development expenses |
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| 18,989 |
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| 20,018 |
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| 21,005 |
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Restructuring and other charges |
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| 1,130 |
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| 2,894 |
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| — |
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Total operating expenses |
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| 37,094 |
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| 40,982 |
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| 39,940 |
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Operating income (loss) |
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| 6,746 |
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| (18,281) |
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| 13,914 |
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| Interest expense |
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| (5,679) |
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| (5,637) |
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| (5,489) |
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| Foreign currency loss, net |
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| (10,431) |
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| (9,997) |
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| (27,449) |
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| Loss on early extinguishment of long-term borrowings, net |
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| — |
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| (42) |
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| — |
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| Other income (expense), net |
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| 656 |
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| 673 |
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| (960) |
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| Loss before income tax expense |
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| (8,708) |
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| (33,284) |
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| (19,984) |
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| Income tax expense |
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| 812 |
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| 841 |
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| 1,521 |
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| Net loss |
| $ | (9,520) |
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| $ | (34,125) |
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| $ | (21,505) |
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| Loss per common share : |
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| - Basic / Diluted |
| $ | (0.28) |
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| $ | (1.00) |
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| $ | (0.62) |
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| Weighted average number of shares—Basic / Diluted |
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| 34,245,127 |
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| 34,194,878 |
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| 34,420,654 |
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