MagnaChip (MX) Tops Q1 EPS by 18c
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MagnaChip Reports First Quarter 2016 Financial Results
May 5, 2016 4:18 PM EDTSEOUL, South Korea and SAN JOSE, Calif., May 5, 2016 /PRNewswire/ --Â 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 first quarter ended March 31, 2016.
Revenue for the first quarter of 2016, a typically seasonally soft quarter, was $148.1 million, a 2.8% decline compared to $152.4 million for the fourth quarter of 2015, and down 10.2% compared to $164.9 million for the first quarter of 2015. Revenue was better-than-expected despite the closure of MagnaChip's legacy 6" semiconductor fab during the first quarter because of the strength in demand... More
