Magnachip: 3Q Earnings Snapshot

Associated Press
Updated ·1 min read

LUXEMBOURG (AP) _ Magnachip Semiconductor Corp. (MX) on Thursday reported third-quarter net income of $273 million, after reporting a loss in the same period a year earlier.

The Luxembourg-based company said it had net income of $5.89 per share. Earnings, adjusted to account for discontinued operations and non-recurring gains, came to 14 cents per share.

The chip products maker posted revenue of $124.8 million in the period.

For the current quarter ending in December, Magnachip said it expects revenue in the range of $128 million to $136 million.

Magnachip shares have increased 16% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $13.48, a climb of slightly more than 3% in the last 12 months.

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