Non-US GAAP adjusted condensed consolidated statements of operations are intended to present the Company's operating results, excluding special items. The special items excluded for the three months ended March 30, 2008 are as follows:
(1) Unused restructuring charges recorded in the second quarter 2007
under SFAS 144
MagnaChip Semiconductor
Condensed Consolidated Balance Sheets
(In thousands of US Dollars)
(Unaudited)
March 30, December 31,
2008 2007
Assets
Current assets
Cash and cash equivalents $53,476 $64,345
Accounts receivable, net 147,275 123,789
Inventories, net 64,925 75,867
Other current assets 24,796 16,722
Total current assets 290,472 280,723
Property, plant and equipment, net 260,978 279,669
Goodwill and intangible assets, net 92,522 104,725
Other non-current assets 49,971 42,766
Total assets $693,943 $707,883
Liabilities & Unitholders' Equity
Current liabilities
Accounts and other payable $143,392 $120,638
Short-term borrowings 80,000 80,000
Other current liabilities 28,924 24,477
Total current liabilities 252,316 225,115
Long-term borrowings 750,000 750,000
Other non-current liabilities 86,994 80,842
Total liabilities 1,089,310 1,055,957
Redeemable convertible preferred units 132,523 129,405
Unitholders' equity (527,890) (477,479)
Total liabilities, redeemable convertible
preferred units and unitholders' equity $693,943 $707,883
MagnaChip Semiconductor
Condensed Consolidated Statements of Cash Flows
(In thousands of US Dollars)
(Unaudited)
Three Months Ended
March 30, April 1,
2008 2007
Cash flows from operating activities
Net loss $(67,897) $(66,982)
Adjustments to reconcile net loss
to net cash provided by (used in)
operating activities
Depreciation and amortization 21,277 43,942
Provision for severance benefits 3,734 4,182
Gain(loss) on foreign currency 43,276 7,849
translation, net
Changes in accounts and other
receivable (24,708) (4,667)
Changes in inventories 7,072 (12,183)
Changes in accounts and other
payable 16,089 (2,996)
Changes in accrued expenses 6,563 11,410
Other (8,912) (753)
Net cash used in operating
activities (3,506) (20,198)
Cash flows from investing activities
Capital expenditures (10,070) (8,348)
Other 3,373 (538)
Net cash used in investing
activities (6,697) (8,886)
Cash flows from financing activities
Exercise of unit options 28 -
Repurchase of common units (68) -
Proceeds from short-term
borrowings 90,000 -
Repayment of short-term borrowings (90,000) -
Net cash used in financing
activities (40) -
Effect of exchange rates on cash
and cash equivalents (626) (825)
Net increase decrease in cash and
cash equivalents (10,869) (29,909)
Cash and cash equivalents
Beginning of the period 64,345 89,173
End of the period $53,476 $59,264
Web site: http://www.magnachip.com//
