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Jun 30, 2021
MagnaChip Q2 2021 Earnings Report
Reports second quarter results.
Key Takeaways
Magnachip reported a decrease in revenue for Q2 2021, primarily due to supply constraints impacting the Display business, which was partially offset by record revenue in the Power business. The company's gross profit margin increased due to high utilization rates and improved product mix.
Second quarter revenue was $113.9 million, down 7.4% sequentially and 4.2% year-over-year.
Gross profit margin for the second quarter was 29.8%, up 190 bps sequentially and up 280 bps year-over-year.
GAAP net loss was $(0.2) million or $(0.00) per diluted share.
Non-GAAP net income was $7.0 million or $0.15 per diluted share.
Forward Guidance
Due to the pending merger with an investment vehicle formed by an affiliate of Wise Road Capital LTD, Magnachip is not hosting a quarterly earnings conference call and has suspended the practice of providing forward-looking guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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