MagnaChip to Hold 3Q07 Call on October 25, 2007
The Company expects revenue for the fourth quarter ending December 31, 2007 to increase approximately 20% from the third quarter of 2007, as design wins hit large scale production volume and seasonal holiday demand increases.
Sang Park, Chairman and CEO of MagnaChip Semiconductor, commented, "We are pleased with how the third quarter developed. We continued to demonstrate improvement in the development of new products and in demand for existing products in all three of our business segments. We introduced new Low Temperature Polysilicon LCD and AMOLED display driver IC solutions. Demand for our current imaging solutions continues to grow, and we are making progress in our new product development. Additionally, we announced our strategic foundry business and process technology transfer agreement with California Micro Devices. We remain optimistic in our outlook entering the fourth quarter as we expect to benefit from share gains at current and new customer accounts and from seasonal holiday demand increases."
Robert Krakauer, President of MagnaChip Semiconductor, said, "Our operational execution continues to improve, as demonstrated by our revenue results and forecast. We expect these results to translate into improved financial performance going forward, as we benefit from higher utilization and continued cost control. Overall, we are highly confident in our business trajectory."
Third Quarter 2007 Earnings Release and Conference Call
The dial-in number for the live audio call beginning at 10:00 a.m. ET on Thursday, October 25, 2007 in New York is +1-201-689-8560. A live webcast of the conference call will be available on MagnaChip's website at http://www.magnachip.com.
A replay of the call will be available from 1:00 p.m. ET on Thursday, October 25, 2007 through midnight on Thursday, November 1, 2007 in New York at http://www.magnachip.com and by telephone at +1-201-612-7415. The account number to access the replay is 3055 and the conference ID number is 257699, respectively.
The news release announcing the third quarter 2007 results will be disseminated before the live call.
About MagnaChip Semiconductor
MagnaChip Semiconductor is a leading designer, developer and manufacturer of mixed-signal and digital multimedia semiconductors addressing the convergence of consumer electronics and communications devices. We focus on CMOS image sensors and flat panel display drivers, which are complex, high performance, mixed signal semiconductors that capture images and enable and enhance the features and capabilities of both small and large flat panel displays. MagnaChip also provides wafer foundry services utilizing CMOS high voltage, embedded memory, analog and power process technologies for the manufacture of IC's for customer-owned designs. For more information, visit http://www.magnachip.com.
Forward-Looking Statements:
Certain statements in this press release including statements regarding expected future financial and industry growth are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimated," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business and economic conditions and the state of the semiconductor industry; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling price; delays in new product introduction; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 10-K for the year ended December 31, 2006.
Although we believe that the expectations reflected in the forward looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements.
CONTACT:
In the U.S.:
David Pasquale, EVP at The Ruth Group
Tel: +646-536-7006
Email Contact
Web site: http://www.magnachip.com/