MagnaChip to Present and Discuss Growth Opportunities and Strategies at Two Investor Conferences in September

 

SEOUL, South Korea and CUPERTINO, Calif., Aug. 22, 2012 /PRNewswire/ — MagnaChip Semiconductor Corporation (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced that management will be presenting and discussing the company’s growth opportunities and strategies at the following investor conferences in September:

2012 Citi Technology Conference, September 5, 2012, 10:30 a.m. ET. Presenting is Sang Park, MagnaChip Chairman and CEO. ThinkEquity 9th Annual Growth Conference, September 12, 2012, 10:45 a.m. ET. Presenting is Margaret Sakai, EVP and CFO, and Brent Rowe, EVP of Worldwide Sales.

The presentations will be webcast live and archived on MagnaChip’s investor relations website at www.magnachip.com.

About MagnaChip Semiconductor
Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.

CONTACTS:

In the United States:
Robert Pursel
Director of Investor Relations
Tel. +1 (408) 625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-2-6903-3195
chankeun.park@magnachip.com

SOURCE MagnaChip Semiconductor Corporation

Enhances Mobile Phone and Tablet PC Camera Autofocus Functionality


SEOUL, South Korea and CUPERTINO, Calif., Aug. 20, 2012 /PRNewswire/ — MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, announced today that it has unveiled a Voice Coil Motor (VCM) driver IC (MAP1011) to support the autofocus function found in mobile phone and tablet PC cameras.

The MAP1011 model features a 10-bit resolution enabling 1,024-level precision control while utilizing the I2C high-speed controller methodology. The MAP1011 VCM driver also uses wafer level chip scale packaging (WLCSP) enhancing low-power operation and reducing standby power consumption. In addition, WLCSP provides user flexibility allowing mobile phone and tablet PC camera module developers a broad choice of product options based only on input and standby voltage criteria.

“We have continued to develop power semiconductor products specialized for mobile phones and tablet PC applications,” said HK Kim, EVP and General Manager of MagnaChip’s Display and Power Solutions Division. “The MAP1011 VCM driver is the first of many future VCM driver IC designs that expands our power solutions product portfolio in order to meet the increasingly technical needs of our customers.”

Description
– The MAP1011 is a single 10-bit resolution DAC with Max.120mA output current capability
– The MAP1011 features an internal reference and operates from a 1.8V to 3.6V supply range

Features
– Supply voltage: 1.8V to 3.6V
– 10-bit resolution
– IOUT: programmable up to 120mA Sinking
– Enable mode
– I2C serial interface
– Integrated current sensor resistor
– Output current ringing controlled
– Power on reset
– Quiescent current: 430uA
– WLCSP package: 0.85 mm x 1.25 mm 6-Ball

About MagnaChip Semiconductor
Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.

CONTACTS:

In the United States:
Robert Pursel
Director of Investor Relations
Tel. +1 408-625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-2-6903-3195
chankeun.park@magnachip.com

SOURCE MagnaChip Semiconductor Corporation

COLORADO SPRINGS, Colo. and SEOUL, South Korea, Aug. 14, 2012 /PRNewswire/ — Aeroflex Incorporated (“Aeroflex”), a wholly owned subsidiary of Aeroflex Holding Corp. (NYSE: ARX) and MagnaChip Semiconductor Corporation (“MagnaChip Semiconductor”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced that Aeroflex’s Colorado Springs division has received QML-V qualification from the US Defense Logistics Agency (DLA), Land and Maritime for its Mixed-Signal products fabricated in MagnaChip’s 0.35um Triple-Well Mixed-Signal CMOS technology.

“QML-V qualification means that we have successfully demonstrated that our products fabricated at MagnaChip meet the specified performance, quality, and reliability levels of the US Department of Defense Product Qualification Program, especially for satellite and space applications,” said Paul Coe, Director of Quality at Aeroflex Colorado Springs.

“We have been utilizing the innovative mixed-signal technology offerings of MagnaChip for over 12 years in high reliability medical and industrial applications, and are pleased that we can now bring this technology to the space community in both QML-V Application Specific Integrated Circuits (ASICs) and standard microcircuit drawing (SMD) products,” said David Kerwin, Director of Mixed Signal products at Aeroflex Colorado Springs.

Aeroflex’s family of QML-V analog multiplexer products are currently fabricated at MagnaChip, as well as our recently announced family of voltage supervisors and customer-specific SMD products.

“We are pleased to be a partner to Aeroflex in the global space market and look forward to supporting their future engineering and manufacturing needs through a continued, successful partnership. MagnaChip is a leader in technology innovation and quality, and proud to be recognized as a QML-V supplier to Aeroflex,” said Namkyu Park, Vice President of MagnaChip’s Foundry Marketing.

“MagnaChip continues to expand its advanced analog and mixed-signal 0.35um and 0.18um CMOS process technology in such areas as non-volatile memories, high-voltage and low noise applications,” continued Namkyu Park. David Kerwin said, “You can expect to see Aeroflex continue to expand its QML-V offering leveraging MagnaChip’s technology investment in analog & mixed-signal processes.”

Aeroflex Colorado Springs, is a supplier of semicustom and standard VLSI circuits and custom circuit card assemblies. Aeroflex, Colorado Springs has received Qualified Manufacturer List (QML) certification for Class Q, Class T and Class V. Additionally, we have received a letter of compliance for ISO 9001 from the Defense Supply Center Columbus.

About MagnaChip Semiconductor

Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.

About Aeroflex

Aeroflex Holding Corp. is a leading global provider of high performance microelectronic components, and test and measurement equipment used by companies in the space, avionics, defense, commercial wireless communications, medical and other markets.

MAGNACHIP CONTACT:

In the United States:
Robert Pursel
Director of Investor Relations
Tel. 408-625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-2-6903-3195
chankeun.park@magnachip.com

AEROFLEX CONTACT:

Teresa Farris
MARCOM Manager
Aeroflex Microelectronic Solutions
Tel. 719-594-8035
teresa.farris@aeroflex.com

SOURCE MagnaChip Semiconductor Corporation

SEOUL, South Korea and CUPERTINO, Calif., Aug. 13, 2012 /PRNewswire/ — MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced that its Board of Directors approved an extension of its existing stock repurchase program through October 27, 2013. The stock repurchase program, originally adopted effective October 27, 2011, had been scheduled to terminate on October 27, 2012. The Board also increased the total amount of common stock the Company may purchase under the stock repurchase program by an additional $25 million, subject to applicable legal and contractual restrictions, for a maximum aggregate repurchase amount under the program of up to $60 million. As of June 30, 2012, the Company had repurchased an aggregate amount of $28.7 million of common stock under the program.

(Logo: http://photos.prnewswire.com/prnh/20120305/NY61184LOGO )

The repurchase program does not obligate the Company to repurchase a minimum number of shares, and the program may be commenced, suspended, canceled or resumed at any time without prior notice. The timing and extent of any repurchases will depend upon prevailing market conditions, the trading price of the Company’s common stock and other factors, and subject to contractual restrictions and restrictions under applicable law and regulations.

Sang Park, MagnaChip Chairman and CEO, commented, “We believe the extension of the share repurchase program we are announcing today continues to represent an effective use of our cash and demonstrates the confidence we have in MagnaChip’s financial strength. The Board of Directors believes that our stock represents an attractive investment for MagnaChip and its investors, and expresses our ongoing commitment to increasing shareholder value.”

About MagnaChip Semiconductor
Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.

CONTACTS:

In the United States:
Robert Pursel
Director of Investor Relations
Tel. 408-625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-2-6903-3195
chankeun.park@magnachip.com

SOURCE MagnaChip Semiconductor Corporation

MagnaChip Reports Second Quarter 2012 Financial Results

– Q2 Revenue Increased 14.5% Sequentially Driven By Strong Growth From Power Solutions (33.4%) and Foundry (34.6%) Revenue
– Gross Margin Expanded 280 Basis Points to 31.0% in Q2
– Expects Q3 Revenue to Increase 7% to 11% and Gross Margin to Increase 100 to 200 Basis Points on a Sequential Basis

 

SEOUL, South Korea and CUPERTINO, Calif., Aug. 2, 2012 /PRNewswire/ — MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced financial results for the second quarter ended June 30, 2012.

Revenue for the second quarter of 2012 was $202.6 million, a 14.5% increase compared to $177.0 million for the first quarter of 2012, and a 0.5% decrease compared to $203.7 million for the second quarter of 2011.

Gross margin was $62.9 million or 31.0%, as a percent of revenue, for the second quarter of 2012. This compares to gross margin of $49.9 million or 28.2% for the first quarter of 2012 and $66.2 million or 32.5% for the second quarter of 2011.

“I am very pleased that the second quarter represented our sixth consecutive quarter of meeting revenue and gross margin guidance in what is being described as a challenging macro environment. Our foundry services and power solutions segments saw greater than anticipated order strength and revenue growth during the quarter,” said Sang Park, MagnaChip Chairman and CEO. “This is possible because of our alignment with strategic customers in high growth markets – including the leading smart phone and tablet PC makers. During the last three years, we have made solid progress shifting our customer base and refocusing our product portfolio. Our direct and indirect revenue from the top two smart phone/tablet PC makers has almost tripled in the first half of this year compared to the first half of 2010.”

Net income, on a GAAP basis, for the second quarter of 2012 totaled $4.3 million or $0.12 per diluted share. This compares to net income of $15.3 million or $0.40 per diluted share for the first quarter of 2012 and net income of $31.6 million or $0.78 per diluted share for the second quarter of 2011. Net income was impacted primarily by a foreign currency loss of $10.6 million during the quarter which was primarily related to non-cash translation losses for intercompany balances that were denominated in U.S. dollars.

Adjusted net income, a non-GAAP measurement, for the second quarter of 2012 totaled $17.9 million or $0.48 per diluted share compared to $6.5 million or $0.17 per diluted share for the first quarter of 2012 and $22.5 million or $0.56 per diluted share for the second quarter of 2011.

Management believes that non-GAAP financial measures, when viewed in conjunction with GAAP results, can provide a more meaningful understanding of the factors and trends affecting MagnaChip’s business and operations. However, such non-GAAP financial measures have limitations and should not be considered as a substitute for net income or as a better indicator of our operating performance than measures that are presented in accordance with GAAP.

Combined cash balances (cash and cash equivalents plus restricted cash) totaled $161.0 million at the end of the second quarter of 2012, an increase of $0.4 million from the end of the prior quarter. Cash provided from operations totaled approximately $26.7 million for the second quarter of 2012.

Revenue by Segment

In thousands of US dollars                                        Three Months Ended

June 30, 2012 March 31, 2012 June 30, 2011
Semiconductor
Manufacturing Services
$91,938 $67,863 $96,458
Display Solutions 76,784 83,225 82,719
Power Solutions 33,699 25,253 23,739
Other 833 661 763
Total Revenue $202,634 $177,002 $203,679


Second Quarter and Recent Company Highlights
– Sixth Consecutive Quarter of Achieving Financial Guidance.
– Factory Utilization Increased to More than 90% in the Second Quarter.
– Achieved GAAP EPS of $0.12 Per Diluted Share and Adjusted EPS of $0.48.
– Completed Successful Secondary Offering of 7 Million Shares of Common Stock in May.
– Repurchased 539 Thousand Shares under MagnaChip’s Stock Repurchase Program Announced October 11, 2011.

Business Outlook For the third quarter of 2012, MagnaChip expects:
– Revenue to increase 7% to 11% to $217 million to $225 million on a sequential basis.
– Gross margin to increase 100 to 200 basis points to 32.0% to 33.0% sequentially.

Non-GAAP Metrics
Adjusted EBITDA excludes charges related to depreciation and amortization, interest expense, net, income tax expense, restructuring and impairment charges, stock-based compensation expense, foreign currency loss (gain), net, derivative valuation gain, net, secondary offering expense, and loss on early extinguishment of senior notes. Adjusted net income (loss) excludes charges related to restructuring and impairment charges, stock-based compensation expense, amortization of intangible assets associated with continuing operations, foreign currency loss (gain), net, derivative valuation gain, net, secondary offering expense, and loss on early extinguishment of senior notes. A reconciliation of GAAP results to non-GAAP results is included following the financial statements.

About MagnaChip Semiconductor Corporation
Headquartered in South Korea, MagnaChip is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high-volume consumer applications. MagnaChip believes it has one of the broadest and deepest ranges of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents, and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com. Information on or accessible through, MagnaChip’s website is not a part of, and is not incorporated into, this release.

Safe Harbor for Forward-Looking Statements
Information in this release regarding MagnaChip’s forecasts, business outlook, expectations and beliefs are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include statements about our ability to capitalize on improving market dynamics and future operating and financial performance including third quarter 2012 revenue and gross profit. All forward-looking statements included in this release are based upon information available to MagnaChip as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include general economic conditions, the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new products and technologies, ability to ramp new products into volume production, industry wide shifts in supply and demand for semiconductor products, industry and/or company overcapacity, effective and cost efficient utilization of manufacturing capacity, financial stability in foreign markets and the impact of foreign exchange rates, unanticipated costs and expenses or the inability to identify expenses which can be eliminated, compliance with U.S. and international trade and export laws and regulations by us and our distributors, and other risks detailed from time to time in MagnaChip’s filings with the SEC, including our Form 10-K filed on March 8, 2012 and subsequent registration statements, amendments or other reports that we may file from time to time with the SEC and/or make available on our website. MagnaChip assumes no obligation and does not intend to update the forward-looking statements provided, whether as a result of new information, future events or otherwise.

CONTACTS:

In the United States:
Robert Pursel
Director of Invetor Relations
Tel. 408-625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-2-6903-3195
chankeun.park@magnachip.com