MagnaChip Introduces Advanced 4-Channel LED Backlight Unit Driver Achieving 50% Increase in Driver Output

 

SEOUL, South Korea and CUPERTINO, Calif., Nov. 26, 2012 — MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced the launch of a advanced 4-channel LED backlight unit (BLU) driver IC (Model: MAP3242) which features a 50% increase in driving power making it ideally suited for TV applications.

By combining the outstanding heat dissipation performance of a new heatsink small outline package (HSOP) with a programmable LED short protection function, MagnaChip was able to increase the output power level of its 4-channel LED by 50% to 60W(65V/240mA). This enables the MAP3242 to drive up to a maximum of 20 LED BLUs per channel, significantly increasing picture brightness while utilizing the same number of driver ICs as in existing display designs.

“The MAP3242 4-channel LED backlight unit driver was introduced for customers who demand an LED BLU driver IC that delivers superior performance and reliability,” said H.K. Kim, EVP and General Manager of MagnaChip’s Display and Power Solutions Divisions. “We are committed to delivering superior products targeting the growing LED TV market, particularly in China, where LED TV demand is soaring.”

Features of the MAP3242
• 4Ch LED Driver with internal dimming FET
• Wide input voltage range: 8.5V ~ 36V
• Max 200mA per channel
• 65V FB Pin Voltage
• 0.6V Min Headroom voltage @ 150mA
• LED current accuracy : ±2.5%
• Switching Frequency : 100kHz ~ 500kHz
• PWM and analog dimming
• Protections : LED Short (adjustable), LED Open OCP, TSD, UVLO
• Package : HSOP-28L, SOIC-20L, ETSSOP-20L

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

MagnaChip and Peregrine Semiconductor Expand Production of
STeP5 UltraCMOS® RFIC and DuNE™ DTC Tuning Products

Manufacturing ramp is fastest in Company’s history


SAN DIEGO, California and SEOUL, South Korea, Nov. 19, 2012 — MagnaChip Semiconductor Corporation (“MagnaChip Semiconductor”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, and Peregrine Semiconductor Corporation (NASDAQ: PSMI), a fabless provider of high-performance radio frequency integrated circuits (RFICs), today announced that MagnaChip has expanded production of Peregrine Semiconductor’s STeP5 UltraCMOS® technology-based RFIC product line, including the most recent DuNE™ Digitally Tunable Capacitors (DTCs) for RF impedance tuning. Peregrine Semiconductor and MagnaChip announced the final qualification and high-volume production ramp of the “STeP5” UltraCMOS process in the third calendar quarter 2011. Due to the continued increase in orders for the STeP5 products, MagnaChip fulfilled the fastest manufacturing ramp in Peregrine Semiconductor’s history.

Current generations of UltraCMOS, an advanced form of Silicon-on-Insulator technology, utilize a sapphire substrate, which enables high levels of monolithic integration, and results in smaller die, higher yields, and fewer external components than other competing compound semiconductor processes. Distinctive generations of the UltraCMOS process are released in “STePs.” The STeP5 products are produced at MagnaChip’s Cheongju, South Korea facility, where MagnaChip also manufactures Peregrine’s legacy “STeP3” and “STeP4” UltraCMOS devices in high volume.

“It is important for MagnaChip to engage with partners who are solving the RF-design challenges associated with the latest 4G LTE networks, and Peregrine Semiconductor is one of those partners,” said Namkyu Park, vice president of marketing for MagnaChip’s foundry division. “We are pleased with the successful ramp and rapid expansion of the STeP5 UltraCMOS product line, including the DuNE DTCs for RF impedance matching. MagnaChip’s manufacturing expertise, combined with our customers’ design capabilities, will allow us to continue to provide robust and cost-competitive manufacturing solutions to our customers.”

“MagnaChip has provided excellent support and flexibility in ramping to meet the large demand for our STeP5 UltraCMOS products,” said Ian Warbrick, vice president of operations for Peregrine Semiconductor. “They added capacity very quickly, and processed a large volume of wafers with expedited cycle times, enabling us to meet our customers’ expectations.”

About Peregrine Semiconductor
Peregrine Semiconductor (NASDAQ: PSMI) is a fabless provider of high-performance radio frequency integrated circuits (RFICs). Our solutions leverage our proprietary UltraCMOS® technology, an advanced RF Silicon-On-Insulator process. Our products deliver what we believe is an industry-leading combination of performance and monolithic integration, and target a broad range of applications in the aerospace and defense, broadband, industrial, mobile wireless device, test and measurement equipment, and wireless infrastructure markets. Additional information is available on the Company’s website at http://www.psemi.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, large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise. For more information, please visit https://www.magnachip.com.

The Peregrine Semiconductor name, logo, and UltraCMOS are registered trademarks, and DuNE is a trademark, of Peregrine Semiconductor Corporation in the U.S.A., and other countries. All other trademarks mentioned herein are the property of their respective owners.

Peregrine Semiconductor Editorial Contact
Michelle Ragsdale, Sr. Public Relations Generalist
Phone: (858) 795-0154
mragsdale@psemi.com
http://www.psemi.com

Peregrine Semiconductor Investor Relations Contacts
Jay Biskupski, Chief Financial Officer
Phone: (858) 731-9400
ir@psemi.com

The Blueshirt Group
Suzanne Craig or Melanie Friedman
Phone: (415) 217-4962, (415) 217-4964
suzanne@blueshirtgroup.com
melanie@blueshirtgroup.com

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

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

Magnachip Reports Third Quarter 2012 Financial Results

MagnaChip Reports Third Quarter 2012 Financial Results

– Revenue Increased 9.5% Sequentially and 10.7% Year-Over-Year Driven By Solid Foundry Revenue Growth
– Gross Margin of 34.5% Expanded 350 Basis Points Sequentially and 450 Basis Points Year-Over-Year
– Achieved GAAP EPS of $1.30 Per Diluted Share and Adjusted EPS of $0.81 Per Diluted Share

SEOUL, South Korea and CUPERTINO, Calif., Nov. 1, 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 third quarter ended September 30, 2012.

Revenue for the third quarter of 2012 was $221.9 million, a 9.5% increase compared to $202.6 million for the second quarter of 2012, and a 10.7% increase compared to $200.4 million for the third quarter of 2011.
Gross margin was $76.4 million or 34.5%, as a percent of revenue, for the third quarter of 2012. This compares to gross margin of $62.9 million or 31.0% for the second quarter of 2012 and $60.1 million or 30.0% for the third quarter of 2011.

Net income, on a GAAP basis, for the third quarter of 2012 totaled $48.4 million or $1.30 per diluted share. This compares to net income of $4.3 million or $0.12 per diluted share for the second quarter of 2012 and net loss of $56.0 million or $1.43 per diluted share for the third quarter of 2011. Net income was impacted primarily by a foreign currency gain of $21.8 million during the quarter which was primarily related to non-cash foreign currency translation for intercompany balances that were denominated in U.S. dollars.

“Our sequential revenue growth of nearly 10% put us at the high end of the semiconductor group in terms of top line performance with smartphone and tablet PC demand remaining strong going into the fourth quarter. This smartphone and tablet PC demand is well diversified with MagnaChip supplying about 50 unique products to 26 different customers,” said Sang Park, MagnaChip Chairman and CEO. “In addition to strong revenue growth, our Q3 gross margin was up 350 basis points sequentially and up 630 basis points since Q1 due to higher fab utilization and improved product mix shift.”

Adjusted net income, a non-GAAP measurement, for the third quarter of 2012 totaled $30.4 million or $0.81 per diluted share compared to $17.9 million or $0.48 per diluted share for the second quarter of 2012 and $18.2 million or $0.46 per diluted share for the third 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 $165.8 million at the end of the third quarter of 2012, an increase of $4.8 million from the end of the prior quarter. Cash provided from operations totaled approximately $23.0 million for the third quarter of 2012.

Revenue by Segment
In thousands of US dollars

Three Months Ended

September 30, 2012     June 30, 2012     September 30, 2012
Semiconductor
Manufacturing Services $           117,978 $          91,318 $            81,571
Display Solutions 69,415 76,784 91,767
Power Solutions 33,849 33,699 26,358
Other  630 833 709
Total Revenue $          221,872 $        202,634 $          200,405

Third Quarter and Recent Company Highlights
– Seventh Consecutive Quarter of Achieving Financial Guidance.
– Expanded Gross Margins to $76.4 million or 34.5%.
– Achieved GAAP EPS of $1.30 Per Diluted Share and Adjusted EPS of $0.81 Per Diluted Share.
– Repurchased 444 Thousand Shares under MagnaChip’s 2011 Stock Repurchase Program.

Business Outlook
– For the fourth quarter of 2012, MagnaChip expects:
– Revenue will be in the range of $213 million to $222 million.
– Gross margin will be 33.5% to 34.5%.

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 loss (gain), net, secondary offering and others, 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 loss (gain), net, secondary offering and others, 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 fourth quarter 2012 revenue and gross margin. 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 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