MagnaChip Semiconductor Provides Updated Guidance for Q4 2019 Financial Results
Magnachip Semiconductor Corporation (MX)
Last magnachip semiconductor corporation earnings: 2/19 04:05 pm
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US:NYSE Investor Relations:
investors.magnachip.com/investor-overview
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Source: PR Newswire
SEOUL, South Korea and SAN JOSE, Calif., Jan.13, 2020 /PRNewswire/ -- MagnaChip Semiconductor Corporation (NYSE: MX) today provided an update to its previous guidance for the fourth quarter of 2019.Revenue in the fourth quarter of 2019, ended December 31, is now expected to be in the range of $198-200 million, and gross profit margin is expected to be in the range of 26-27%, based on unaudited preliminary financial estimates. This updated guidance for the fourth quarter compares to the Company's previous guidance of revenue to be in the range of $181-191 million and gross profit margin to be in the range of 24-26%. The previous revenue guidance provided on October 23, 2019, in conjunction with the public release of the financial results for the third quarter of 2019, reflected an expectation at that time that revenue in the fourth quarter would reflect normal seasonal softness in the OLED, Power and Foundry businesses. While seasonal softness was a factor for all three businesses, O
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