Magnachip Q4 revenue $50.8M, net loss $6.0M; FY2023 revenue down 31.9%

MAGNACHIP SEMICONDUCTOR Corp

2023-FY EPS reported -$0.89 revenue$230,051,000

Q4 revenue $50.8M near low-end of guidance; GAAP net loss $6.0M (diluted EPS -$0.16) vs. net income $3.0M a year ago.
Full-year revenue $230.1M (-31.9% YoY); GAAP operating loss $57.6M vs. -$5.2M in 2022.
Display Solutions revenue $32.1M in 2023, down 55.0% YoY; Power Solutions down 29.0% to $163.6M.
Ended Q4 with $158.1M cash and no debt; repurchased $8.2M of stock in Q4.
Guides FY2024 consolidated revenue flat to slightly up; expects double-digit growth in MSS and PAS individually.

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