MagnaChip (MX) Tops Q1 EPS by 18c

MagnaChip (NYSE: MX) reported Q1 EPS of ($0.08), $0.18 better than the analyst estimate of ($0.26). Revenue for the quarter came in at $148.1 million versus the consensus estimate of $144 million.

Business Outlook

For the second quarter of 2016, MagnaChip anticipates:

• Revenue will be in the range of $156 million to $162 million, a sequential increase of 5% to 9%, reflecting a recovery in the Foundry order pipeline and strong demand for AMOLED display driver ICs.
• Gross profit to be in the range of 21% to 24% as a percent of revenue.

For earnings history and earnings-related data on MagnaChip (MX) click here.

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