MagnaChip (MX) Sees Prelim. Q4 Revenue at High-End of Expectations

MagnaChip (NYSE: MX) will hold a conference call Wednesday, February 17, 2016 at 5 p.m. EST to discuss the Company’s fourth quarter 2015 financial results. Participating in the call will be YJ Kim, MagnaChip CEO and Jonathan Kim, Executive Vice President and CFO. The earnings press release will be issued after the market closes that day.

The conference call will be webcast live and is also available by dialing 1-866-776-2061 in the U.S. or 1-706-679-0298 for all other locations. The conference ID number is 24897567 and participants are encouraged to initiate their calls at least 10 minutes in advance of the 5 p.m. EST start time to ensure a timely connection. The webcast and earnings release will be accessible at www.magnachip.com.

A replay of the conference call will be made available the same day and will run for 72 hours. The replay access numbers are 1-855-859-2056 or 1-404-537-3406. The access code is 24897567.

Business Update

Based on preliminary unaudited results, MagnaChip currently expects its fourth quarter 2015 revenue to be approximately $152 million, within MagnaChip’s previously announced $143 million to $153 million guidance range, and gross profit to be approximately 19% of revenue, which is above the previous guidance range of 14% to 16%. The higher than expected gross profit is primarily due to an increase in demand for its AMOLED products as well as better than expected product mix and manufacturing efficiencies.

*** The Street sees Q4 revenue of $148.8 million.

The foregoing preliminary unaudited results are not final and subject to adjustment. MagnaChip expects to provide its complete financial results for the fourth quarter in its earnings release and conference call on February 17, 2016.

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