Magnachip Q4 revenue $61M, down 44.7% YoY; full-year loss $0.18 diluted EPS

MAGNACHIP SEMICONDUCTOR Corp

2022-FY EPS reported -$0.18 revenue$337,658,000

Q4 revenue $61.0M (near high-end of guidance) but down 44.7% YoY due to 28nm OLED wafer shortages and weak Android demand.
Full-year revenue $337.7M, down 28.8% YoY; GAAP diluted loss per share $0.18; non-GAAP diluted EPS $0.19.
Display Solutions segment Q4 revenue $7.6M, down 81.7% YoY; Power Solutions up 1.2% for full year.
Gross profit margin Q4 26.4% (within guidance), full year 30.0% down 240bps due to inventory reserves.
Management expects Display revenue recovery in H2 2023 as four design-in projects ramp.

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 0.95

MAGNACHIP SEMICONDUCTOR Corp reported the fourth quarter ended December 31, 2022 results: revenue $61.0 million, net income $2,971 thousand, EPS $0.07 per diluted share.

Period: the fourth quarter ended December 31, 2022
Revenue: $61.0 million
Net income: $2,971 thousand
EPS: $0.07 per diluted share
Result: reported results

Exact text from the filing

Magnachip Reports Results for Fourth Quarter and Full-Year 2022 • Fourth quarter revenue of $61.0 million was near the high-end of our guidance range.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MAGNACHIP SEMICONDUCTOR Corp reported the full year ended December 31, 2022 results: revenue $337.7 million, net income ($8,036) thousand, EPS ($0.18) per diluted share.

Period: the full year ended December 31, 2022
Revenue: $337.7 million
Net income: ($8,036) thousand
EPS: ($0.18) per diluted share
Result: reported results

Exact text from the filing

Full-year revenue of $337.7 million decreased 28.8% YoY

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Source: SEC EDGAR

accession 0001193125-23-041145

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