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Magnachip: 1Q Earnings Snapshot

LUXEMBOURG (AP) _ Magnachip Semiconductor Corp. (MX) on Tuesday reported a first-quarter loss of $34.1 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Luxembourg-based company said it had a loss of $1. Losses, adjusted for non-recurring costs and restructuring costs, were 58 cents per share.

The chip products maker posted revenue of $157.4 million in the period.

For the current quarter ending in July, Magnachip said it expects revenue in the range of $173 million to $181 million.

Magnachip shares have risen 43% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $8.85, a drop of slightly more than 5% in the last 12 months.


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