secwatch.observer — SEC 8-K summary
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Issuer:     MAGNACHIP SEMICONDUCTOR Corp (MX)
CIK:        0001325702
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001140361-23-022718
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Magnachip Q1 revenue $57M, down 45% YoY; GAAP loss $0.49 per share
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- Revenue of $57.0M, within guidance, but down 45.2% YoY due to wafer shortage and inventory correction.
- GAAP diluted loss per share $0.49; non-GAAP diluted loss per share $0.24.
- Gross profit margin 21.2% (low end of guidance), down from 37.5% a year ago.
- Display Solutions revenue $10.8M (-62.9% YoY); Power Solutions $40.7M (-37.3%).
- CEO expects recovery in H2 2023 but near-term results remain soft.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1325702/000114036123022718/0001140361-23-022718-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1325702/000114036123022718/brhc20052425_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-022718

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer