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Magnachip: 1Q Earnings Snapshot

Associated Press
Updated ·1-min read

LUXEMBOURG (AP) _ Magnachip Semiconductor Corp. (MX) on Wednesday reported a loss of $23.7 million in its first quarter.

The Luxembourg-based company said it had a loss of 68 cents per share. Earnings, adjusted for one-time gains and costs, were 3 cents per share.

The chip products maker posted revenue of $197 million in the period.

For the current quarter ending in July, Magnachip said it expects revenue in the range of $191 million to $203 million.

Magnachip shares have dropped nearly 1% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.54, an increase of 16% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MX at https://www.zacks.com/ap/MX