MagnaChip Reports Results for Third Quarter 2020

 

 


MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES
RECONCILIATION OF OPERATING INCOME TO ADJUSTED OPERATING INCOME
(In thousands of US dollars)
(Unaudited)








Three Months Ended






Nine Months Ended




September 30,


June 30,



September 30,


September 30,


September 30,




2020


2020



2019


2020


2019


Operating income


$

3,223


$

8,622


$

14,336

$

17,810


$

18,034

Adjustments:




















Equity-based compensation expense



2,101



1,503



430


4,366



1,661

Inventory reserve related to Huawei



2,331






2,331



Expenses related to Fab 3 power outage



1,168






1,168



Others








554



585

Adjusted operating income


$

8,823


$

10,125


$

14,766

$

26,229


$

20,280

We present Adjusted Operating Income as supplemental measures of our performance. We define Adjusted Operating Income for the periods indicated as operating income adjusted to exclude (i) Equity-based compensation expense, (ii) Inventory reserve related to Huawei, (iii) Expenses related to Fab 3 power outage and (iv) Others. For the three and nine months ended September 30, 2020, inventory reserve related to Huawei eliminates a $2,331 thousand excess and obsolete inventory charge that we recorded in relation to the US Government's export restrictions on Huawei. During the same periods, expenses related to Fab 3 power outage eliminate $1,168 thousand related to the write-off of the damaged work in process wafers and charges for facility recovery. For the nine months ended September 30, 2020, others primarily eliminates non-recurring professional fees and expenses incurred in connection with certain treasury and finance initiatives incurred during the three months ended March 31, 2020. For the nine months ended September 30, 2019, others eliminates a $0.6 million legal settlement charge related to dispute with a prior customer and a legal expense related to the indemnification of a former employee, which was borne by us under a negotiated separation agreement during the three months ended March 31, 2019 .

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7  Next Page »
Featured Video
Editorial
More Editorial  
Jobs
Senior Firmware Architect - Server Manageability for Nvidia at Santa Clara, California
Sr. Silicon Design Engineer for AMD at Santa Clara, California
Design Verification Engineer for Blockwork IT at Milpitas, California
CAD Engineer for Nvidia at Santa Clara, California
Senior Platform Software Engineer, AI Server - GPU for Nvidia at Santa Clara, California
GPU Design Verification Engineer for AMD at Santa Clara, California
Upcoming Events
MEMS & Sensors Executive Congress (MSEC 2024) at Château-Bromont Hotel in Bromont Quebec Canada - Oct 7 - 9, 2024
PCB West 2024 at Santa Clara Convention Center Santa Clara CA - Oct 8 - 11, 2024
DVcon Europe 2024 at Holiday Inn Munich City Center, Munich Germany - Oct 15 - 16, 2024
International Test Conference (ITC) at United States - Nov 3 - 8, 2024



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise