MagnaChip Reports Second Quarter 2017 Financial Results

 

 


MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES

RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA AND ADJUSTED NET INCOME

(In thousands of US dollars, except share data)

(Unaudited)
















Three Months Ended




June 30,

2017



March 31,

2017



June 30,

2016


Net income (loss)


$

(8,059)



$

43,738



$

(17,816)


Adjustments:













Interest expense, net



5,187




4,976




4,001


Income tax expenses



538




853




272


Depreciation and amortization



6,773




6,758




6,228


EBITDA



4,439




56,325




(7,315)


Restructuring and other charges (gain)






(17,010)




1,305


Early termination charges



2,262




11,107




4,240


Equity-based compensation expense



349




830




968


Foreign currency loss (gain), net



11,905




(41,786)




7,101


Derivative valuation loss (gain), net



467




(637)




8


Restatement related expenses



900




4,259




2,306


Adjusted EBITDA


$

20,322



$

13,088



$

8,613






Net income (loss)


$

(8,059)



$

43,738



$

(17,816)


Adjustments:













Restructuring and other charges (gain)






(17,010)




1,305


Early termination charges



2,262




11,107




4,240


Equity-based compensation expense



349




830




968


Foreign currency loss (gain), net



11,905




(41,786)




7,101


Derivative valuation loss (gain), net



467




(637)




8


Restatement related expenses



900




4,259




2,306


Adjusted Net Income (Loss)


$

7,824



$

501



$

(1,888)


Adjusted Net Income (Loss) per common share:













- Basic


$

0.23



$

0.01



$

(0.05)


- Diluted


$

0.21



$

0.01



$

(0.05)


Weighted average number of shares – Basic



33,952,574




33,662,297




34,716,081


Weighted average number of shares – Diluted



44,974,577




34,301,291




34,716,081



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