分类： 投资者

MagnaChip Reports Fourth Quarter and Full Year 2011 Financial Results

– Power Solutions Full Year 2011 Revenue Grew 61.6% Year-over-Year
– AMOLED Display Full Year 2011 Revenue Grew 700% Year-over-Year
– Smartphone and Tablet PC 2011 Design Wins Tripled Year-over-Year
– Signed a Definitive Agreement to Acquire Dawin Electronics,
a Provider of High-Power Semiconductor Modules

MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced financial results for the quarter and year ended December 31, 2011.

Revenue for the fourth quarter of 2011 was $180.8 million, a 9.8% decrease compared to $200.4 million for the third quarter of 2011, and a 3.2% decrease compared to $186.8 million for the fourth quarter of 2010. For the full year 2011, revenue was $772.8 million compared to $770.4 million for 2010, a 0.3% increase.

Gross profit was $51.5 million or 28.5%, as a percent of revenue, for the fourth quarter of 2011. This compares to gross profit of $60.1 million or 30.0% for the third quarter of 2011 and $60.4 million or 32.3% for the fourth quarter of 2010. For the full year 2011, gross profit was $234.3 million or 30.3% compared to $243.6 million or 31.6% for 2010.

“I am very pleased that for the fourth consecutive quarter we again met our quarterly revenue guidance in what has been a challenging year for the semiconductor industry. Our successful track record is a result of outstanding relationships with major blue chip customers and a growing list of design-wins targeted at high-growth, high-margin applications,” said Sang Park, MagnaChip’s Chairman and Chief Executive Officer. “Smartphones, tablet PCs, AMOLED displays and Ultrabooks are some examples of growth drivers for MagnaChip in 2012 as well as our rapidly expanding customer base and new product introductions for the power solutions segment. In addition, our recent announcement of the Dawin Electronics Co. Ltd. acquisition strengthens our competitive position in the fast growing IGBT power module business. Looking ahead, we believe there are indications that the first quarter of 2012 could be the bottom of our revenue downturn based on the strength of orders for new products coming from our smartphone and tablet PC customers. Our goal is to grow the business, deliver solid financial performance and to enhance shareholder value in the years to come.”

Net income, on a GAAP basis, for the fourth quarter of 2011 totaled $23.7 million or $0.61 per diluted share. This compares to net loss of $56.0 million or $1.43 per diluted share for the third quarter of 2011 and a net income of $12.3 million or $0.31 per diluted share for the fourth quarter of 2010. For the full year 2011, net income was $21.8 million or $0.55 per diluted share compared to $74.1 million or $1.89 per diluted share for 2010. Net income for 2011 was impacted primarily by a foreign currency loss of $11.6 million compared to a foreign currency gain of $14.7 million for 2010, as well as a special expense for IPO incentive payments of $12.1 million made in 2011. The net foreign currency exposure was primarily related to non-cash translation gains or losses for intercompany balances that were denominated in U.S. dollars.

Adjusted net income, a non-GAAP measurement, for the fourth quarter of 2011 totaled $10.0 million or $0.26 per diluted share compared to $18.2 million or $0.46 per diluted share for the third quarter of 2011 and $17.4 million or $0.44 per diluted share for the fourth quarter of 2010. For the full year 2011, adjusted net income was $66.4 million or $1.67 per diluted share compared to $89.2 million or $2.28 per diluted share for 2010.

Management believes that non-GAAP financial measures, when viewed in conjunction with GAAP results, can provide a more meaningful understanding of the factors and trends affecting MagnaChip’s business and operations. 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.

Combined cash balances (cash and cash equivalents plus restricted cash) totaled $168.9 million at the end of the fourth quarter of 2011, an increase of $0.2 million from the end of the prior quarter. Cash provided from operations totaled approximately $18.3 million for the fourth quarter of 2011.

Revenue by Segment

In thousands of US dollars

Fourth Quarter and Recent Company Highlights

Signed a Definitive Agreement to Acquire Dawin Electronics Co. Ltd., a Provider of High-Power Semiconductor Modules.
Repurchased 1.53 Million Shares under MagnaChip’s Stock Repurchase Program Announced October 11, 2011.
Announced the Supply of AMOLED Display Driver ICs for Microsoft Windows-Based Smartphones.
Expanded the LED Driver Product Portfolio to Notebook and Tablet PCs.
Launched Module Based Process Design Kits for Power and Display Driver Applications.

Non-GAAP Metrics

Adjusted EBITDA excludes charges related to depreciation and amortization, interest expense, net, income tax expense, restructuring and impairment charges, inventory step-up, stock-based compensation expense, foreign currency loss (gain), net, derivative valuation loss, net, special expense for an IPO employee incentive payment, and loss on early extinguishment of senior notes. Adjusted net income (loss) excludes charges related to restructuring and impairment, inventory step-up, stock-based compensation expense, amortization of intangible assets associated with continuing operations, foreign currency loss (gain), net, derivative valuation loss, net, special expense for an IPO employee incentive payment, and loss on early extinguishment of senior notes. A reconciliation of GAAP results to non-GAAP results is included following the financial statements.

About MagnaChip Semiconductor Corporation

Headquartered in South Korea, MagnaChip is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high-volume consumer applications. MagnaChip believes it has one of the broadest and deepest ranges of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents, and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com. Information on or accessible through, MagnaChip’s website is not a part of, and is not incorporated into, this release.

Safe Harbor for Forward-Looking Statements

Information in this release regarding MagnaChip’s forecasts, business outlook, expectations and beliefs are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include statements about our ability to capitalize on improving market dynamics and future operating and financial performance including first quarter 2012 revenue. All forward-looking statements included in this release are based upon information available to MagnaChip Semiconductor as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include general economic conditions, the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new products and technologies, ability to ramp new products into volume production, industry wide shifts in supply and demand for semiconductor products, industry and/or company overcapacity, effective and cost efficient utilization of manufacturing capacity, financial stability in foreign markets and the impact of foreign exchange rates, unanticipated costs and expenses or the inability to identify expenses which can be eliminated, compliance with U.S. and international trade and export laws and regulations by us and our distributors, and other risks detailed from time to time in MagnaChip’s filings with the SEC, including our Form 10-K filed on March 18, 2011 and subsequent registration statements, amendments or other reports that we may file from time to time with the SEC and/or make available on our website. MagnaChip assumes no obligation and does not intend to update the forward-looking statements provided, whether as a result of new information, future events or otherwise.

CONTACTS:

In the United States:

Robert Pursel
Director of Investor Relations
Tel. 408-625-1262
robert.pursel@magnachip.com

In Korea:

Chankeun Park
Senior Manager, Public Relations
Tel.+82-2-6903-3195
chankeun.park@magnachip.com

MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX) today announced that its Korean subsidiary has entered into a definitive agreement to acquire Dawin Electronics Co. Ltd., a privately held semiconductor company that designs and manufactures Insulated Gate Bipolar Transistor (IGBT), Fast Recovery Diode (FRD) and MOSFET modules. Dawin Electronics is headquartered in Incheon, South Korea, and has sales offices in China and Europe. Terms of the deal were not disclosed.

“The acquisition of Dawin Electronics is a strategic fit for MagnaChip and allows us to continue to diversify and expand our fast-growing Power Solutions business into the commercial and industrial segments,” said Sang Park, MagnaChip’s Chairman and CEO. “Dawin’s high-power modules will enable MagnaChip to compete quickly and effectively in the high-growth IGBT market with a broader portfolio of power solutions for our customers. This acquisition also demonstrates our continued focus on capital allocation and commitment to return shareholder value to our investors.”

According to market research firm IHS iSuppli, the total IGBT market in 2011 was estimated to be $4.1 billion and is expected to grow at a compounded annual growth rate of 10 percent from 2011 to 2015. The IGBT is used in a broad range of medium- to high-power commercial and industrial applications and in many consumer appliances such as variable speed refrigerators, air-conditioners and stereo systems. Availability of affordable, reliable IGBTs is also an important enabler for electric vehicles and hybrid cars.

The acquisition of Dawin and its IGBT and FRD module technology is synergistic with MagnaChip’s goal of expanding into high-growth, high-margin markets and with its long history as a designer and manufacturer of analog and mixed-signal semiconductor products. The acquisition is expected to be completed before the end of March 2012.

About MagnaChip Semiconductor

Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.

About Dawin Electronics

Dawin Electronics, founded in 2001, is a Korea-based designer and manufacturer of FRD, IGBT and MOSFET modules for consumer, commercial and industrial applications. For more information, please visit www.dawinsemi.com.

Safe Harbor for Forward-Looking Statements

Information in this release regarding MagnaChip Semiconductor Corporation’s forecasts, business outlook, expectations and beliefs are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include statements about our ability to capitalize on improving market dynamics and future operating and financial performance including revenue. All forward-looking statements included in this release are based upon information available to MagnaChip Semiconductor as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include general economic conditions, the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new products and technologies, ability to ramp new products into volume production, industry wide shifts in supply and demand for semiconductor products, industry and/or company overcapacity, effective and cost efficient utilization of manufacturing capacity, financial stability in foreign markets and the impact of foreign exchange rates, unanticipated costs and expenses or the inability to identify expenses which can be eliminated, compliance with U.S. and international trade and export laws and regulations by us and our distributors, and other risks detailed from time to time in MagnaChip Semiconductor Corporation’s filings with the SEC, including our Form 10-K filed on March 18, 2011 and subsequent registration statements, amendments or other reports that we may file from time to time with the SEC and/or make available on our website. MagnaChip Semiconductor Corporation assumes no obligation and does not intend to update the forward-looking statements provided, whether as a result of new information, future events or otherwise.

CONTACTS:

In the United States:
Robert Pursel
Director of Investor Relations
Tel. 408-625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-2-6903-3195
chankeun.park@magnachip.com

SEOUL, South Korea and CUPERTINO, Calif., Jan. 11, 2012 /PRNewswire/ — MagnaChip Semiconductor Corporation (“MagnaChip Semiconductor”) (NYSE: MX) will hold a conference call Wednesday, February 1, 2012 at 3 p.m. PST to discuss the Company’s fourth quarter 2011 financial results. Participating in the call will be Sang Park, MagnaChip Chairman and CEO and Margaret Sakai, Executive Vice President and CFO. The earnings press release will be issued after the market closes that day.

The conference call will be webcast live and is also available by dialing 1-866-776-2061 in the U.S. or 1-706-679-0298 for all other locations. The conference ID number is 42555239 and participants are encouraged to initiate their calls at least 10 minutes in advance of the 3 p.m. PST start time to ensure a timely connection. The webcast and earnings release will be accessible at www.magnachip.com.

A replay of the conference call will be available the same day and will run for 72 hours. The replay access numbers are 1-855-859-2056 or 1-404-537-3406. The access code is 42555239.

About MagnaChip Semiconductor

Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents, and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.

CONTACTS:

In the United States:
Robert Pursel
Director of Investor Relations
Tel. 408-625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-2-6903-3195
chankeun.park@magnachip.com

MagnaChip to Present and Discuss Growth Opportunities and Strategies at the Barclays Capital Global Technology Conference

SEOUL, South Korea and CUPERTINO, Calif., Nov. 30, 2011 – MagnaChip Semiconductor Corporation (“MagnaChip Semiconductor”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced that Sang Park, MagnaChip’s Chairman and Chief Executive Officer, will be presenting and discussing the company’s growth opportunities and strategies at the Barclays Capital Global Technology Conference in San Francisco.

The presentation is scheduled for December 7, 2011 at 9:00 a.m. Pacific Time and will be webcast live and archived on MagnaChip’s investor relations website at www.magnachip.com.

About MagnaChip Semiconductor

Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise.

CONTACTS:

In the United States:
Robert Pursel
Director of Investor Relations
Tel. 408-625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-2-6903-3195
chankeun.park@magnachip.com

MagnaChip Reports Third Quarter 2011 Financial Results

– Power Solutions Revenue Grew 11% Sequentially and 48% Year-over-Year
– Display Solutions Revenue Grew 11% Sequentially and 18% Year-over -Year

SEOUL, South Korea and CUPERTINO, Calif., Oct. 26, 2011 — MagnaChip Semiconductor Corporation (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced financial results for the third quarter ended September 30, 2011.

Revenue for the third quarter of 2011 was $200.4 million, a 1.6% decrease compared to $203.7 million for the second quarter of 2011, and a 4.3% decrease compared to $209.4 million for the third quarter of 2010.

Gross profit was $60.1 million or 30.0%, as a percent of revenue, for the third quarter of 2011. This compares to gross profit of 66.2 million or 32.5 % for the second quarter of 2011 and $69.3 million or 33.1% for the third quarter of 2010.

“Despite continued weakness in the global semiconductor market, we managed to deliver results consistent with our original guidance while growing Power Solutions 11% sequentially and 48% year-over-year,” said Sang Park, MagnaChip’s Chairman and Chief Executive Officer. “While many of our peers reduced their outlook as the quarter progressed, we delivered on our initial expectations based on the strength of our blue-chip customer relationships, diverse product portfolio and growing Power and Display Solutions businesses. Having a strategy that capitalizes on the strength of our Foundry, Display and Power products better positions us for growth as the macro environment begins its recovery.”

Net loss, on a GAAP basis, for the third quarter of 2011 totaled $56.0 million or $1.43 per diluted share. This compares to net income of $31.6 million or $0.78 per diluted share for the second quarter of 2011 and a net income of $61.5 million or $1.57 per diluted share for the third quarter of 2010. Net loss was primarily impacted by a non-cash foreign currency translation loss of $68.1 million due to the appreciation of the US dollar against the Korean won associated with intercompany balances.

Adjusted net income, a non-GAAP measurement, for the third quarter of 2011 totaled $18.2 million or $0.46 per diluted share compared to $22.5 million or $0.56 per diluted share for the second quarter of 2011 and $26.2 million or $0.67 per diluted share for the third quarter of 2010.

Management believes that non-GAAP financial measures, when viewed in conjunction with GAAP results, can provide a more meaningful understanding of the factors and trends affecting MagnaChip Semiconductor Corporation’s business and operations. 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.

Combined cash balances (cash and cash equivalents plus restricted cash) totaled $168.7 million at the end of the third quarter of 2011, a decrease of $9.1 million from the end of the prior quarter primarily due to a cash payment of $12.1 million related to the $11.3 million repurchase of senior notes during the quarter. Cash provided from operations totaled approximately $18.7 million for the third quarter of 2011.

Revenue by Segment

In thousands of US dollars                                                                      Three Months Ended

Third Quarter and Recent Company Highlights

Reduced the Aggregate Principal Amount of the Company’s Outstanding 10.500% Senior Notes from $215.0M to $203.7M by Repurchasing and Retiring $11.3M of Principal.
Announced $35 Million Common Stock Repurchase Program.
Began Supplying AMOLED Display Drivers for Samsung’s Galaxy S2 LTE Smartphone.
Shipped Pre-Production Samples of AC LED Lighting Drivers to a Leading Korean LED Manufacturer.
Delivered IGBT Engineering Samples to Several Key Asian and Western Power Customers.

Non-GAAP Metrics

Adjusted EBITDA excludes charges related to depreciation and amortization, interest expense, net, income tax expense, restructuring and impairment charges, stock-based compensation expense, foreign currency loss (gain), net, derivative valuation loss (gain), net, and loss on early extinguishment of senior notes. Adjusted net income (loss) excludes charges related to restructuring and impairment, stock-based compensation expense, amortization of intangible assets associated with continuing operations, foreign currency loss (gain), net, derivative valuation loss (gain), net, and loss on early extinguishment of senior notes. A reconciliation of GAAP results to non-GAAP results is included following the financial statements below.

About MagnaChip Semiconductor Corporation

Headquartered in South Korea, MagnaChip Semiconductor Corporation is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high-volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest ranges of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents, and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com. Information on or accessible through, MagnaChip Semiconductor’s website is not a part of, and is not incorporated into, this release.

Safe Harbor for Forward-Looking Statements

Information in this release regarding MagnaChip Semiconductor Corporation’s forecasts, business outlook, expectations and beliefs are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include statements about our ability to capitalize on improving market dynamics and future operating and financial performance including fourth quarter 2011 revenue. All forward-looking statements included in this release are based upon information available to MagnaChip Semiconductor as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include general economic conditions, the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new products and technologies, ability to ramp new products into volume production, industry wide shifts in supply and demand for semiconductor products, industry and/or company overcapacity, effective and cost efficient utilization of manufacturing capacity, financial stability in foreign markets and the impact of foreign exchange rates, unanticipated costs and expenses or the inability to identify expenses which can be eliminated, compliance with U.S. and international trade and export laws and regulations by us and our distributors, and other risks detailed from time to time in MagnaChip Semiconductor Corporation’s filings with the SEC, including our Form 10-K filed on March 18, 2011 and subsequent registration statements, amendments or other reports that we may file from time to time with the SEC and/or make available on our website. MagnaChip Semiconductor Corporation assumes no obligation and does not intend to update the forward-looking statements provided, whether as a result of new information, future events or otherwise.

CONTACTS:

In the United States:

Robert Pursel
Director of Investor Relations
Tel. 408-625-1262
robert.pursel@magnachip.com

In Korea:

Chankeun Park
Senior Manager, Public Relations
Tel.+82-2-6903-3195
chankeun.park@magnachip.com

SEOUL, South Korea and CUPERTINO, Calif., Oct. 11, 2011 /PRNewswire via COMTEX/ — MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced that its Board of Directors has approved a stock repurchase program under which MagnaChip intends to repurchase, from time to time, up to $35 million of its common stock. Such purchases may be made in the open market, through block trades, in privately negotiated transactions or otherwise.

The share repurchase program will be funded with MagnaChip’s cash on hand and is effective beginning October 27, 2011, through October 27, 2012. The repurchase program does not obligate MagnaChip to repurchase a minimum number of shares, and the program may be commenced, suspended, canceled or resumed at any time without prior notice. The timing and extent of any repurchases will depend upon prevailing market conditions, the trading price of MagnaChip’s common stock and other factors, and subject to restrictions under applicable law and regulations.

MagnaChip also announced today that during its third fiscal quarter ended September 30, 2011, MagnaChip Semiconductor S.A., a wholly-owned subsidiary of MagnaChip, repurchased $11.3 million aggregate principal amount of the outstanding 10.500% Senior Notes due 2018 of MagnaChip Semiconductor S.A. and its subsidiary MagnaChip Semiconductor Finance Company.

Sang Park, MagnaChip Chairman and CEO, commented, “We believe the share repurchase program and bond repurchase we are announcing today represent an effective use of our cash and demonstrate the confidence we have in MagnaChip’s financial strength. The Board of Directors believes that our stock represents an attractive investment for MagnaChip and its investors, and expresses our ongoing commitment to increasing shareholder value.”

About MagnaChip Semiconductor

Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise. For more information, please visit https://www.magnachip.com/.

Safe Harbor for Forward-Looking Statements

Information in this release regarding MagnaChip Semiconductor Corporation’s forecasts, business outlook, expectations and beliefs are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to MagnaChip Semiconductor as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include general economic conditions, the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new products and technologies, ability to ramp new products into volume production, industry wide shifts in supply and demand for semiconductor products, industry and/or company overcapacity, effective and cost efficient utilization of manufacturing capacity, financial stability in foreign markets and the impact of foreign exchange rates, unanticipated costs and expenses or the inability to identify expenses which can be eliminated, compliance with U.S. and international trade and export laws and regulations by us and our distributors, and other risks detailed from time to time in MagnaChip Semiconductor Corporation’s filings with the SEC, including our Form 10-K filed on March 18, 2011 and subsequent registration statements, amendments or other reports that we may file from time to time with the SEC and/or make available on our website. MagnaChip Semiconductor Corporation assumes no obligation and does not intend to update the forward-looking statements provided, whether as a result of new information, future events or otherwise.

CONTACTS:

In the United States:
Robert Pursel
Director of Investor Relations
Tel. +1-408-625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-3-6903-3195
chankeun.park@magnachip.com

SEOUL, South Korea and CUPERTINO, Calif., Oct. 5, 2011 /PRNewswire via COMTEX/ — MagnaChip Semiconductor Corporation (“MagnaChip Semiconductor”) (NYSE: MX) will hold a conference call Wednesday, October 26, 2011 at 3 p.m. PDT to discuss the Company’s third quarter 2011 financial results. Participating in the call will be Sang Park, MagnaChip Chairman and CEO and Margaret Sakai, Executive Vice President and CFO. The earnings release will be issued after the market closes that day.

The conference call will be webcast live and is also available by dialing 1-866-776-2061 in the U.S. or 1-706-679-0298 for all other locations. The conference ID number is 16871066 and participants are encouraged to initiate their calls at least 10 minutes in advance of the 3 p.m. PDT start time to ensure a timely connection. The webcast and earnings release will be accessible at https://www.magnachip.com/.

A replay of the conference call will be available the same day and will run for 72 hours. The replay access numbers are 1-800-642-1687 and 1-706-645-9291. The access code is 16871066.

About MagnaChip Semiconductor Corporation

Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.

CONTACTS:

In the United States:
Robert Pursel
Director of Investor Relations
Tel. +1-408-625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-3-6903-3195
chankeun.park@magnachip.com

MagnaChip Semiconductor Corporation (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced that the Company’s Board of Directors has appointed Ilbok Lee as a new Independent Director. Dr. Lee has been President and Chief Executive Officer of Silego Technology, Inc., a semiconductor company, since its inception in October 2001.

From 1999 to 2001, Dr. Lee served as Senior Vice President and General Manager of the Timing Division at Cypress Semiconductor Corp., and from 1992 to 1999 served as President and Chief Executive Officer of IC Works, Inc., a semiconductor company he co-founded that was acquired by Cypress in 2001.

Dr. Lee co-founded Samsung Semiconductor, Inc. (U.S.A.) in 1983 and served in various positions at the company, including President and Chief Executive Officer, until 1992. Prior to Samsung, Dr. Lee served in various technical and managerial positions at Intel and National Semiconductor. Dr. Lee received a Ph.D. and M.S.E.E. from the University of Minnesota and a B.S.E.E. from Seoul National University.

“We are pleased to have Ilbok join our Board as a new Independent Director,” stated Sang Park, MagnaChip’s Chairman and Chief Executive Officer. “His industry experience and knowledge will prove invaluable as we continue to execute on our business plan and position MagnaChip for long-term, profitable growth.”

Dr. Lee’s appointment fills the vacancy created by Gidu Shroff, who resigned from the Board to focus more time on personal pursuits.
Park continued, “On behalf of the Board, I want to thank Gidu for his service to MagnaChip and the contributions he has made to the Company. His dedication and support are greatly appreciated. We wish him well.”

About MagnaChip Semiconductor

Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com. Information on or accessible through, MagnaChip Semiconductor’s website is not part of, and is not incorporated into, this release.

CONTACTS:

In the United States:

Robert Pursel
Director of Investor Relations
Tel. 408-625-1262
robert.pursel@magnachip.com

In Korea:

Chankeun Park
Senior Manager, Public Relations
Tel.+82-2-6903-3195
chankeun.park@magnachip.com

MagnaChip Reports Second Quarter 2011 Financial Results

– Revenue of $204 Million up 8% Sequentially and 5% Year-over-Year
– Power Solutions Revenue Grew 16% Sequentially and 97% Year-over-Year
– Gross Profit Expands 240 Basis Points Sequentially
– GAAP Net Income $32 Million or $0.78 Per Diluted Share

SEOUL, South Korea and CUPERTINO, Calif., July 27, 2011 /PRNewswire via COMTEX/ — MagnaChip Semiconductor Corporation (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced financial results for the second quarter ended June 30, 2011.

Revenue for the second quarter of 2011 was $203.7 million, an 8.4% increase compared to $187.9 million for the first quarter of 2011, and a 4.6% increase compared to $194.7 million for the second quarter of 2010.

Gross profit was $66.2 million or 32.5%, as a percent of revenue, for the second quarter of 2011. This compares to gross profit of $56.5 million or 30.1% for the first quarter of 2011 and $64.5 million or 33.1% for the second quarter of 2010.

“I am very pleased that revenue for our three business segments grew during the quarter and that gross profit expanded as a result of strong execution by our sales and manufacturing organizations,” said Sang Park, MagnaChip’s Chairman and Chief Executive Officer. “Not only did our Power Solutions segment grow 16 percent sequentially, but our Display Solutions segment posted double-digit revenue growth this quarter as well. Additionally, our Foundry business was up 5% over the March quarter despite overall market softness as reported by several foundry providers. I am very encouraged by the traction of our new products, which has increased the design-win activity for both our Power Segment and Foundry Services. This better positions us strategically for growth in the coming years.”

Net income, on a GAAP basis, for the second quarter of 2011 totaled $31.6 million or $0.78 per diluted share. This compares to net income of $22.5 million or $0.57 per diluted share for the first quarter of 2011 and a net loss of $30.7 million or $0.81 per diluted share for the second quarter of 2010.

Adjusted net income, a non-GAAP measurement, for the second quarter of 2011 totaled $22.5 million or $0.56 per diluted share compared to $15.7 million or $0.40 per diluted share for the first quarter of 2011 and $25.7 million or $0.68 per diluted share for the second quarter of 2010.

Management believes that non-GAAP financial measures, when viewed in conjunction with GAAP results, can provide a more meaningful understanding of the factors and trends affecting MagnaChip Semiconductor Corporation’s business and operations. 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.

Combined cash balances (cash and cash equivalents plus short-term investments) totaled $177.8 million at the end of the second quarter of 2011, a decrease of $16.4 million from the end of the prior quarter due to a cash payment of $38.2 million related to the $35 million repurchase of senior notes during the quarter. Cash provided from operations totaled approximately $48.3 million for the second quarter of 2011.

Revenue by Segment

In thousands of US dollars                                                 Three Months Ended

Second Quarter and Recent Company Highlights

Reduced the Company’s Outstanding Senior Notes from $250M to $215M by Repurchasing and Retiring $35M of Principal.
Began Wafer Production for ELMOS’ 0.35um Automotive Semiconductor Products.
Delivered Working Samples of an LED Lighting Product targeted for the Fast Growing LED Market.
Developed a High Voltage IGBT Power Module for Industrial and Consumer Appliance Applications.

Non-GAAP Metrics

Adjusted EBITDA excludes charges related to depreciation and amortization, interest expense, net, income tax expense, restructuring and impairment activities, stock-based compensation expense, foreign currency loss (gain), net, derivative valuation loss (gain), net, special expense for the IPO employee incentive payment, and loss on early extinguishment of senior notes. Adjusted net income (loss) excludes charges related to restructuring and impairment, stock-based compensation expense, amortization of intangible assets associated with continuing operations, foreign currency loss (gain), net, derivative valuation loss (gain), net, special expense for the IPO employee incentive payment, and loss on early extinguishment of senior notes. A reconciliation of GAAP results to non-GAAP results is included following the financial statements below.

About MagnaChip Semiconductor Corporation

Headquartered in South Korea, MagnaChip Semiconductor Corporation is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high-volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest ranges of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents, and extensive engineering and manufacturing process expertise. For more information, please visit https://www.magnachip.com/. Information on or accessible through, MagnaChip Semiconductor’s website is not a part of, and is not incorporated into, this release.

Safe Harbor for Forward-Looking Statements

Information in this release regarding MagnaChip Semiconductor Corporation’s forecasts, business outlook, expectations and beliefs are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include statements about our ability to capitalize on improving market dynamics and future operating and financial performance including third quarter 2011 revenue. All forward-looking statements included in this release are based upon information available to MagnaChip Semiconductor as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include general economic conditions, the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new products and technologies, ability to ramp new products into volume production, industry wide shifts in supply and demand for semiconductor products, industry and/or company overcapacity, effective and cost efficient utilization of manufacturing capacity, financial stability in foreign markets and the impact of foreign exchange rates, unanticipated costs and expenses or the inability to identify expenses which can be eliminated, compliance with U.S. and international trade and export laws and regulations by us and our distributors, and other risks detailed from time to time in MagnaChip Semiconductor Corporation’s filings with the SEC, including our Form 10-K filed on March 18, 2011 and subsequent registration statements, amendments or other reports that we may file from time to time with the SEC and/or make available on our website. MagnaChip Semiconductor Corporation assumes no obligation and does not intend to update the forward-looking statements provided, whether as a result of new information, future events or otherwise.

CONTACTS:

In the United States:

Robert Pursel
Director of Investor Relations
Tel. 408-625-1262
robert.pursel@magnachip.com

In Korea:

Chankeun Park
Senior Manager, Public Relations
Tel.+82-2-6903-3195
chankeun.park@magnachip.com

SEOUL, South Korea and CUPERTINO, Calif., July 11, 2011 — MagnaChip Semiconductor Corporation (“MagnaChip Semiconductor”) (NYSE: MX) will hold a conference call Wednesday, July 27, 2011 at 2 p.m. PDT to discuss the Company’s second quarter 2011 financial results. Participating in the call will be Sang Park, MagnaChip Chairman and CEO and Margaret Sakai, Executive Vice President and CFO. The earnings release will be issued after the market closes that day.

The conference call will be webcast live and is also available by dialing 1-866-776-2061 in the U.S. or 1-706-679-0298 for all other locations. The conference ID number is 82072152 and participants are encouraged to initiate their calls at least 10 minutes in advance of the 2 p.m. PDT start time to ensure a timely connection. The webcast and earnings release will be accessible at investors.magnachip.com.

A replay of the conference call will be available the same day and will run for 72 hours. The replay access numbers are 1-800-642-1687 and 1-706-645-9291. The access code is 82072152.

About MagnaChip Semiconductor

Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.

CONTACTS:

In the United States:

Robert Pursel
Director of Investor Relations
Tel. +1-408-625-1262
robert.pursel@magnachip.com

In Korea:

Chankeun Park
Senior Manager, Public Relations
Tel. +82-2-6903-3195
chankeun.park@magnachip.com