MagnaChip Semiconductor Provides Updated Guidance for Q2 2019 Financial Results
Magnachip Semiconductor Corporation (MX)
Last magnachip semiconductor corporation earnings: 2/19 04:05 pm
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Source: PR Newswire
SEOUL, South Korea and SAN JOSE, Calif., June 11, 2019 /PRNewswire/ -- MagnaChip Semiconductor Corporation (NYSE: MX) today provided an update to its previous guidance for the second quarter of 2019.Revenue in the second quarter of 2019, ending June 30, is now expected to be at least $194 million, and gross profit margin is expected to be at least 21%. This updated guidance for the second quarter compares to the Company's previous guidance of revenue to be in the range of $173-181 million and gross profit margin to be in the range of 16-18%. The previous revenue guidance provided on April 30 in conjunction with the public release of the financial results for the first quarter of 2019 reflected an expectation at that time that revenue from MagnaChip's OLED Display drivers would increase by approximately 30% and that revenue from the Foundry business would be flat, both as compared to the first quarter of 2019. However, revenue for both OLED Display drivers and 8" Foundry servi
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