Magnachip: 4Q Earnings Snapshot

LUXEMBOURG (AP) _ Magnachip Semiconductor Corp. (MX) on Wednesday reported fourth-quarter net income of $23.4 million, after reporting a loss in the same period a year earlier.

The Luxembourg-based company said it had net income of 54 cents per share. Earnings, adjusted for non-recurring gains, came to 32 cents per share.

The chip products maker posted revenue of $200 million in the period.

For the year, the company reported that its loss widened to $21.8 million, or 64 cents per share. Revenue was reported as $792.2 million.

For the current quarter ending in April, Magnachip said it expects revenue in the range of $180 million to $195 million.

Magnachip shares have increased 24% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $14.45, an increase of 67% in the last 12 months.

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