Magnachip Q3 revenue $71.2M, GAAP EPS -$0.38; non-GAAP EPS $0.02

MAGNACHIP SEMICONDUCTOR Corp

2022-Q3 EPS reported -$0.24 revenue$276,668,000

Revenue fell to $71.2M from $93.9M YoY; Display revenue down 89% to $6.4M due to OLED wafer shortages.
GAAP operating loss of $10.0M vs income of $20.0M YoY; gross margin 24.2% hit by $3.3M wafer scrap charge.
GAAP net loss $17.2M ($0.38 diluted loss); adjusted net income $1.1M or $0.02 non-GAAP diluted EPS.
Power Solutions revenue $56.4M, down 4% YoY; Transitional Fab 3 revenue $8.4M, down 12%.
CEO: new OLED DDIC sample released; expect mass production in 2023 and significant Display recovery.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MAGNACHIP SEMICONDUCTOR Corp reported financial results for the third quarter ended September 30, 2022.

Period: the third quarter ended September 30, 2022
Result: reported results

Exact text from the filing

Attached hereto as Exhibit 99.1 and incorporated by reference herein is financial information for Magnachip Semiconductor Corporation and its consolidated subsidiaries for the third quarter ended September 30, 2022, as presented in a press release dated November 2, 2022.

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Source: SEC EDGAR

accession 0001193125-22-275853

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