Magnachip Semiconductor LLC (NYSE:MX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Magnachip Semiconductor LLC Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 231.25% to $0.53 in the quarter versus EPS of $0.16 in the year-earlier quarter.
Revenue: Rose 15.99% to $205.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Magnachip Semiconductor LLC reported adjusted EPS income of $0.53 per share. By that measure, the company beat the mean analyst estimate of $0.47. It beat the average revenue estimate of $205.14 million.
Quoting Management: “Our first quarter revenue and margin performance was better than the same quarter last year because of the product mix and customer shift we have been making which has enabled us to be better aligned with growing markets,” said Sang Park, MagnaChip Chairman and CEO. “The March quarter is typically a weak quarter due to seasonality and the post-holiday consumer spending slowdown. However, in addition to normal seasonality we also experienced lower than anticipated demand from the smartphone market. Despite these obstacles, we were able to achieve our financial guidance for the ninth consecutive quarter. Looking ahead, challenges still remain and visibility is somewhat limited. However, we remain optimistic that the macro environment is starting to improve and that our business will return to normal seasonal growth beginning in the second quarter.”
Key Stats (on next page)…
Revenue decreased 5.86% from $218.08 million in the previous quarter. EPS decreased 31.17% from $0.77 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.59 to a profit $0.60. For the current year, the average estimate has moved up from a profit of $2.45 to a profit of $2.50 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)