MagnaChip Reports Second Quarter 2018 Financial Results

 

MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In thousands of US dollars, except share data)

(Unaudited)



June 30,
2018


December 31,
2017


(In thousands of US dollars,
except share data)

Assets




Current assets      




Cash and cash equivalents    

$  131,682


$      128,575

Accounts receivable, net        

85,570


92,026

Unbilled accounts receivable 

35,857


Inventories, net        

57,456


73,073

Other receivables     

8,468


4,292

Prepaid expenses     

10,227


9,250

Hedge collateral       

10,100


7,600

Other current assets 

11,023


15,444

Total current assets       

350,383


330,260

Property, plant and equipment, net

197,034


205,903

Intangible assets, net         

3,966


4,061

Long-term prepaid expenses            

13,858


12,791

Other non-current assets   

5,851


5,774

Total assets    

$  571,092


$      558,789

Liabilities and Stockholders' Equity




Current liabilities 




Accounts payable    

$     60,742


$        65,940

Other accounts payable         

11,123


10,261

Accrued expenses    

49,506


51,746

Deferred revenue     

13,440


8,335

Other current liabilities            

5,149


1,860

Total current liabilities  

139,960


138,142

Long-term borrowings, net

304,489


303,416

Accrued severance benefits, net      

145,542


148,905

Other non-current liabilities              

14,894


7,963

Total liabilities

604,885


598,426

Stockholders' equity          




Common stock, $0.01 par value, 150,000,000 shares authorized, 42,877,395 shares issued and 
     34,483,754 outstanding at June 30, 2018 and 42,563,808 shares issued and 34,189,599 outstanding 
     at December 31, 2017 

429


426

Additional paid-in capital      

139,502


136,259

Accumulated deficit

(51,147 )


(40,889 )

Treasury stock, 8,393,641 shares at June 30, 2018 and 8,374,209 shares at December 31, 2017

(102,518 )


(102,319 )

Accumulated other comprehensive loss              

(20,059 )


(33,114 )

Total stockholders' deficit           

(33,793 )


(39,637)

Total liabilities and stockholders' equity  

$  571,092


$      558,789


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