MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES | ||||||||||||
RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA AND ADJUSTED NET INCOME | ||||||||||||
(In thousands of US dollars, except share data) | ||||||||||||
(Unaudited) | ||||||||||||
|
| ||||||||||||
|
|
| Three Months Ended |
| |||||||||
|
|
| June 30, 2019 |
|
| March 31, 2019 |
|
| June 30, 2018 |
| |||
Net loss |
| $ | (9,520) |
|
| $ | (34,125) |
|
| $ | (21,505) |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, net |
|
| 5,092 |
|
|
| 5,059 |
|
|
| 5,059 |
|
Income tax expense |
|
| 812 |
|
|
| 841 |
|
|
| 1,521 |
|
Depreciation and amortization |
|
| 8,202 |
|
|
| 8,303 |
|
|
| 8,012 |
|
EBITDA |
|
| 4,586 |
|
|
| (19,922) |
|
|
| (6,913) |
|
Restructuring and other charges |
|
| 1,130 |
|
|
| 2,894 |
|
|
| — |
|
Equity-based compensation expense |
|
| 772 |
|
|
| 669 |
|
|
| 1,341 |
|
Foreign currency loss, net |
|
| 10,431 |
|
|
| 9,997 |
|
|
| 27,449 |
|
Derivative valuation loss, net |
|
| 80 |
|
|
| 56 |
|
|
| 1,632 |
|
Loss on early extinguishment of long-term borrowings, net |
|
| — |
|
|
| 42 |
|
|
| — |
|
Others |
|
| — |
|
|
| 585 |
|
|
| — |
|
Adjusted EBITDA |
| $ | 16,999 |
|
| $ | (5,679) |
|
| $ | 23,509 |
|
| Net loss |
| $ | (9,520) |
|
| $ | (34,125) |
|
| $ | (21,505) |
|
| Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
| Restructuring and other charges |
|
| 1,130 |
|
|
| 2,894 |
|
|
| — |
|
| Equity-based compensation expense |
|
| 772 |
|
|
| 669 |
|
|
| 1,341 |
|
| Foreign currency loss, net |
|
| 10,431 |
|
|
| 9,997 |
|
|
| 27,449 |
|
| Derivative valuation loss, net |
|
| 80 |
|
|
| 56 |
|
|
| 1,632 |
|
| Loss on early extinguishment of long-term borrowings, net |
|
| — |
|
|
| 42 |
|
|
| — |
|
| Others |
|
| — |
|
|
| 585 |
|
|
| — |
|
| Adjusted Net Income (Loss) |
| $ | 2,893 |
|
| $ | (19,882) |
|
| $ | 8,917 |
|
| Adjusted Net Income (Loss) per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
| - Basic |
| $ | 0.08 |
|
| $ | (0.58) |
|
| $ | 0.26 |
|
| - Diluted |
| $ | 0.08 |
|
| $ | (0.58) |
|
| $ | 0.23 |
|
| Weighted average number of shares – Basic |
|
| 34,245,127 |
|
|
| 34,194,878 |
|
|
| 34,420,654 |
|
| Weighted average number of shares – Diluted |
|
| 34,965,562 |
|
|
| 34,194,878 |
|
|
| 45,735,521 |
|
