Non-US GAAP adjusted condensed consolidated statements of operations are intended to present the Company's operating results, excluding special items. The special items excluded for the three months ended March 30, 2008 are as follows:
(1) Unused restructuring charges recorded in the second quarter 2007 under SFAS 144 MagnaChip Semiconductor Condensed Consolidated Balance Sheets (In thousands of US Dollars) (Unaudited) March 30, December 31, 2008 2007 Assets Current assets Cash and cash equivalents $53,476 $64,345 Accounts receivable, net 147,275 123,789 Inventories, net 64,925 75,867 Other current assets 24,796 16,722 Total current assets 290,472 280,723 Property, plant and equipment, net 260,978 279,669 Goodwill and intangible assets, net 92,522 104,725 Other non-current assets 49,971 42,766 Total assets $693,943 $707,883 Liabilities & Unitholders' Equity Current liabilities Accounts and other payable $143,392 $120,638 Short-term borrowings 80,000 80,000 Other current liabilities 28,924 24,477 Total current liabilities 252,316 225,115 Long-term borrowings 750,000 750,000 Other non-current liabilities 86,994 80,842 Total liabilities 1,089,310 1,055,957 Redeemable convertible preferred units 132,523 129,405 Unitholders' equity (527,890) (477,479) Total liabilities, redeemable convertible preferred units and unitholders' equity $693,943 $707,883 MagnaChip Semiconductor Condensed Consolidated Statements of Cash Flows (In thousands of US Dollars) (Unaudited) Three Months Ended March 30, April 1, 2008 2007 Cash flows from operating activities Net loss $(67,897) $(66,982) Adjustments to reconcile net loss to net cash provided by (used in) operating activities Depreciation and amortization 21,277 43,942 Provision for severance benefits 3,734 4,182 Gain(loss) on foreign currency 43,276 7,849 translation, net Changes in accounts and other receivable (24,708) (4,667) Changes in inventories 7,072 (12,183) Changes in accounts and other payable 16,089 (2,996) Changes in accrued expenses 6,563 11,410 Other (8,912) (753) Net cash used in operating activities (3,506) (20,198) Cash flows from investing activities Capital expenditures (10,070) (8,348) Other 3,373 (538) Net cash used in investing activities (6,697) (8,886) Cash flows from financing activities Exercise of unit options 28 - Repurchase of common units (68) - Proceeds from short-term borrowings 90,000 - Repayment of short-term borrowings (90,000) - Net cash used in financing activities (40) - Effect of exchange rates on cash and cash equivalents (626) (825) Net increase decrease in cash and cash equivalents (10,869) (29,909) Cash and cash equivalents Beginning of the period 64,345 89,173 End of the period $53,476 $59,264
Web site: http://www.magnachip.com//