MX - Earnings call transcript Q2 2018 | Magnachip Semiconductor Corporation

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Operator

Good day, ladies and gentlemen, and welcome to the Second Quarter 2018 MagnaChip Semiconductor Corporation Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As reminder, this conference is being recorded. I would now like to introduce your host for today's conference, Bruce Entin, Director, Investor Relations. begin. may you Sir,

Bruce Entin

joining quarter discuss ended for for financial the second June us you MagnaChip's to results Thank XX, XXXX.

release. earnings closed can call quarter the site. The company's second release of filed Web we The today's will year. replay today Investor shortly our press stock Web Relations market on available of Access be the archived is found the will and in be releases the call telephone for other one be on completion after and information the that after provided the webcast site earnings

me Chief Financial Jonathan Joining an today the of Officer are will performance YJ recent MagnaChip's YJ call Chief provide Executive and our company's a will discussion Kim, the Kim, And third quarter session begin with XXXX. a and Officer. QX will well following operating remarks. overview YJ today's as recap be results. provide of the provide brief of financial for prepared question-and-answer as our then, There will guidance a financial Jonathan

conference During about the course of and call, we business outlook MagnaChip's make expectations. statements forward-looking may this

discussion described SEC facts the and to statements historical are risks not therefore predictions our uncertainties today beliefs statements filings. and and as that forward-looking all as Harbor subject our other Safe of Our found reflect in and in

call, our www.magnachip.com. YJ call that I'll under operating Investor are to the of comparable the are will intended Kim. MagnaChip's illustrate Non-GAAP available useful. measures. not During to generally of second financial the can accounting earnings be be measures site financial we performance measures over that YJ? principles found also the alternative GAAP A on our directly prepared at quarter Non-GAAP turn with The Non-GAAP discuss accepted And most in tab accordance the may in release Relations an reconciliation measure now, measures to Web

YJ Kim

Thank call. Bruce. everyone conference on QX welcome the And to you,

XX.X% highest reached $XXX in. about guidance right level Let's and $XXX Total as to and income ago EBITDA by digits well our as Revenue $XXX exceeded year six Gross sequentially. of increased in QX quarter XX.X% dive sequentially. million nearly of year-over-year million dollars, a of the profit years. prior adjusted from increased of double operating increased and any revenue million $XXX.X

generated flow Jonathan review our cash in shortly. meaningful positive detail also in We more free quarter. will the financials

the QX XX% Here are the million XXXX. drivers was than was from power pleased in QX a reported OLED OLED was revenue foundry million highest XXXX we we and top-line on growth. That was of the And the the in but was in $XX.X second last record revenue OLED of highest which was year sequentially our and QX straight shipping QX main performance that to new standout It quarter OLED performer takeaways. year revenue XXXX. better increased million. of the revenue currently quarter are to for XXXX. say track XXXX. showed a from it QX record MagnaChip we set And Display, level The catalyst of expected growth, since XXX.X% began $XXX in revenue QX. than and OLED of in OLED revenue $XX.X achieved in XX.X% year-over-year any OLED higher during quarter triple-digit sequential I'm

in was in for in drivers. was DDIC May, anticipate market smartphones by would hit That OLED mass XX%. Instead, QX. sequentially OLED to about here smartphones We the abnormally our additional OLED entered production production XX the talk we earnings On revenue smartphones estimated we our briefly our in are with mass on QX be an we and QX. OLED revenue for XX about MagnaChip new OLED with six strong. in where OLED expectation increase Let's would how headed we QX got that and based call about

our Let's our activity touch discuss briefly pipeline. design on product and

If highly year. opened. and new you late a for were playing smartphone devices for the catch they because China happened, global China design from delayed up were Once a several that makers waiting in smartphone the recall, anticipated last market smartphone makers had brand plans in to hit floodgates

fact In brand. with leading than our design [ph] better the wins features of XX% notch or approximately rigid latest greatest price bezel-less new performance and enable offer smartphones XX-nanometer a [trench] which global

on wins the XX dozen with we a books As we of design smartphone makers. about had close a total QX,

an through QX. win for in tablet in We also an panel our secured for application OLED our first Asia design maker OEM

a of outside We continue low compelling drive to our This with display screen IC one bezel-less, XX full HD++ of is portfolio OLED makers leading them cost more and now device get design to rigid smartphone nanometer enables production. rigid XX-nanometer wins Korea. our in resolution third and flexible by volume new XX OLED X driver are edge generation with and six which ratio all aspect

will mix positive more While shift last said smartphone growth flexible drivers. the drivers towards a OLED of displaysupplychain.com rigid margin in QX. for higher and market begin QX, In report shipments published in represented are complex prospects week the display firm to product research majority

brands growth growth offerings. expected Here QX is their $X to narrows accelerating the with price their flexible about gap LCD in OLED and as quote to LTPS, impressive is increase "OLED rigid more smartphone OLED

million. be expect their of agree to Speaking of combined in for range OLED with MagnaChip, revenue view our point we $XXX the and QX-QX we

have in technically requirements We that It high-end our will excited We by smartphone and and wave end test a MagnaChip smartphones require already the expect panels a a it of including our in and early that about We drive reignite the OLED power the the believe will next clear associated smartphone the features or and of XX-nanometer not demand the when flexible exact potential devices the foldables foldable display out flexible OLED but begin future. OLED display market product year supplies. volume, and category power foldables OLED the in to the particular of combine specs tablet is ultra-low driver will components sampling to will pipeline. in meet order are increased innovation foldables at new for year will compelling latest. a strip take driver. clear of a is to bend. very hit a drivers a that It's This best have display

reminder, issues LCD not display cannot and aging. MagnaChip As flexible made and panel a to is OLED strides have be solving bent. screen burning already customers in our and significant related

reduce compensation reduction further finer functions and enable memory process flexible Ever including step important battery also artificial with will XX-nanometer managing such using into and with operations integrated reality OLED intelligence, and see will uptime resolution power augmented modules capabilities drive the DDIC's since complex and enable compensation sensor packed support advanced technologies we high such more of geometrics screen Such of functions or small improved pixel processors application finer reality. and and high driver embedded screens. In power SRAM ultra will high capabilities. be have especially very foldables DDIC virtual even as have that addition, SRAM QHD+ like lowest also screens device levels for active in display large multiple sophisticated and and may functions realized features. optical consumption. control density manage the enhanced heat with be performance functions to only size an of of is significantly Ultra-low complex other ICs. using resolution components to a improve dye greater preserve could as multiple algorithms required Ultra-low development complex to will life, cost leading touch devices power to important perhaps diverse and UHD

and and design OLED XX-nanometer track the As capabilities. record, display will display most OLED advanced industry's that a power company efficiency cost Stay MagnaChip lowest with most believe tuned. we at the have at manufacturing longest the driver our

about effort LCD you update we use While the talking the not business, million we margin let and you In me opportunities attractive told in would decided approximately our to we a development. are to we've LCD give actively QX, business optimization product a an undertaken on low $XX portfolio approach business. pursue display of platform brief with

in redirect would dashboard applications. margin towards multiple control screen car display. to concept business including In functions. that pleased automotive the the stack ordinary designs higher am or this for center to We said, two opportunities used QX terms, also report we is want we I automobile,

the foundry now business. to Turning

increase Our gross profit and low steps of foundry wafer substantial both number We've do prices, a revenue higher of in we prices. more. margin taken the a a but increased impact in need to QX, wafer mitigate despite sequentially to

was Foundry takeaways used the ICs double-digit the to ESquare and for of and process This in prices. [ph] the foundation foundry [ESquare] based Other in raising IoT and USP-C analog our the grew in metrics we revenue an ideal double XXXX. business combination power potential smartphones, in in increased outs product solutions of the PROM VCD on be a continue foundry of technology double view power business from Technology QX. QX, half indicator sequentially with all in increased the as Not year-over-year business foundry health the of of compared the first new by the of based road. digits an equal down some but tape of XXXX pipeline half well. VCD high revenue As our sequentially because potential, applications. indicator of as result notable Technology by tape business Data revenue, and devices management is digits volume first have are based outs

X% the continued power the high again in for optimization we well in voltage devices pay results margin in to are digits voltage standard industry demand, demand business, for converting increasing lower ensure both once power also IGBT meet efforts grew to for by by were business and off. MOSFET the began to starts capacity. power and double opportunistically medium over To in Junction outpace wafer and that markets. customer Super business as more two to Now, impressive LCD Revenue supply ago, turning continue strong MOSFET years demand products as the Portfolio as than we year-over-year due TV sequentially and share MagnaChip.

I'll I afterwards provide This windows. glass business XX of technology. LED and is our already Jonathan? power quarter. entered that, enabler This volume power and outlook Jonathan. generation on With standard cases, signage into continue shortages power to offerings And products We geometric form product have carry like allocation. have in margins. and increased and price convert products applications improve industry profit also for digital new that every XX the prices powered financial third solutions. to has to sell is up IC higher which production to using to call LED product, IC power we micro products key begun based In some the to due LED I'd targeted solutions guidance new for an drive IC product exterior selling product wafer to wrap channel our certain highlight over to turn will one competitive margin. return

Jonathan Kim

YJ. and period you, welcome [ph] quarter the addition despite Thank the second notably [fab] to compared continued price the progress in We lower a on on everyone made raw And Most financial to increases several fronts call. headwinds. ago. year wafers on

Let's our do of a results. brief recap

Please Revenue will XX.X% for tables As financial in from published a than to we from increased financials a X.X% This a part numbers in performance. QX revenue XX.X% housekeeping our the as a improvements with products numbers. business. increase year-over-year as discuss in expected decline due on ago refer revenue our The the was item, our group. of to our foundry offset standard an revenue by began year historical stronger reported historical basis. adjusted

times Products. products represented from XXXX. Foundry Standard QX and application. XX.X% products increased and done of up QX of XX% display XX.X% revenue XX.X% power a to from year the group response in were display has power in OLED XX.X% as displays QX, quadrupled certain in QX revenue We products ASPs business product The shortage services the long Products of OLED industry Power up lead caused have For revenue. revenue group others XX.X% that represented XX%. last year-over-year QX represented from comprised the on of in in and XX.X% and

margin effort fully Our non-OLED that display product low business optimization declined strategic for and a in as category. deliberate part of

of dollars in gross are revenue fall improved flows. and dollars X.X was a XX.X% $XX.X a operating growth Notably operating revenue income was profit from because that a EBITDA free encouraging to double cash sequential through than million XX.X%. flattish On fall to income operating it operating and in increased as would margin in XX.X%, financial income digits, incremental which the metrics but adjusted signs be monitor are basis gross year-over-year those foundry represents XXXX EBITDA margin ago. from faster operating QX, and rose the useful On dollars Our respectively. profit gross gross We our increased believe a XX.X% million and gross and by income, QX increased by adjusted all which adjusted key going EBITDA profit XX.X% dollars through metrics standouts expenses. year basis, to were

call due we in and to margin up from QX utilization QX Gross factors mid-XX% also in included range growth One margin of as more for buffer wafer and low QX a raw margin positive posted mentioned continue in the higher in free tightly generated was mix lower flow gross the of a in Despite will we potential we percentage Wafer the in with decision declined XXXX. lower headwinds, use anticipate their free highlight we or year XXXX prices in to product results we earnings compared likely Other was to year. within ago. Fab flattish. We the made particular margin Give XXXX to that fiscal QX and shipments. XXXX. overall affecting range higher achieve margin slightly gross of a prices drivers letting wafers all half product not was far flow free flexible LCD primarily prepayment and reduce be cash as an volume products. had gross we as wafers. cash wide. We OLED low period take only still generate of margin a compared cash utilization high QX in environment year-over-year We we of flow foundry strengthened financial to to including secure which negative the balance inventories in certain in vendors is second again margin industry XX% standby gross in happen. fiscal OLED cash fab anticipate demand wafer to to XX.X% Gross a larger we've but higher by we meaningful products that prudent margin the a sheet, the us and raw adequate factors purchase would X%. previously will supply. we to and managed QX strategic for to said remain positive words. a We as our in well favorable that prices due X% this the as QX. year those as We intention ago by XX% issue profit said become impact [indiscernible] as mix back margin same the of But that that once several deliberate said of no guidance X% mitigated decrease also profit that in have

We're the a impact and customer that will this next to in-house to power manufacture opportunistically meet into also moderate of are epi-wafers with of raw to silica add anticipated do build Also guarantee the A suppliers. prepayments from and primarily special are our we outside wafers or we certain which grow to of vendors use take continued to To continue the type a supply undertaking customer matters wafer tools year. will respect meet to planning we own new our continue used to wafer increases XXXX this, expect initiative require with will We attractive to to meet epi-wafers of and prices. hands the price year intend as to wafers. of commonly standard to stock made We to number Those substrate shortage epi referred long-term epitaxial in portion demand supply buy in to buffer the parts. we've we at inventory. wafers epi-wafers increase done past arrangements to requirements.

both was million legal for ROI the A As million SG&A to included entered unexpected initiative. as repayment and and acquisition we the the insurance increase We QX primarily to treatment notes third-party up have that with into to manageable from facility development basis currently related QX in facility a support Capital our to higher compared OLED compensation company We of which in improved the including back as Gumi, QX achieving XXXX to claim $X $XX.X the support program well QX then profit second included in $XX.X and million $X.X the transaction up summary, currently result, will facility call using the Hynix XXXX acquire in related positive million million XXXX XX direction the turn end $XXX.X in totaled increase in million SG&A metrics QX gross trend based key QX free of to in in $XX.X In QX spending research normalized $XX.X expenditures primarily million XXXX. SK this I over company be was fully value involved due million in as over We with programs stock-based financial the designed activities. next a QX, as for acquiring an million in In from will and million. investments. QX or approximately finance water $X.X revised the $X benefit performance arrangement. in The XXXX X-X fab to in support QX of in an $XXX.X half $XXX,XXX increase million in the million XXXX, income party $X.X regroup these trend This third YJ. for program. half capital forecasted by at $X.X incentives performance QX XXXX. mentioned approximately In million EBITDA in and that in $XX to with to approximately R&D arrangement and R&D fully dollars. Korea flow, XXXX in estimate fees. a associated to financed cash million spending basis for million above operating run with to $XXX,XXX compared to this XXXX, to we revised Cash years this normalized will primarily capital a in our before results with by facility million to right on $XXX.X as support expect business. second compared excludes $XX previously was the $XX related align shareholder a the stock-based we includes QX on SG&A time. years. in water to compensation or adjusted OLED expect continue moved few expect as of

to wafer With profitability vendors and steps time that our turn are over have team, achieve that, already a and we committed steps to call foundry, operations. are Those improve As with raising lower among and and of goal. YJ. the prices YJ? to long-term management power supply a in entering into power portion taking to others margin we customers been back to backend wafer products form selling agreements minimize I'll include

YJ Kim

the of lines in few multiple was the business our OLED show second OLED. quarter the headwinds. operational showed but comments you, financial performed closing well. despite Thank and all in results Jonathan. star three A on our We of in QX, improvement

is new wave global signs design needed China of show the that a launches half recovery start now. from match market of beginning believe believe started that year. we brand. some smartphone the of half China's of us head the While in models the second their feature year, off activity paying first will MagnaChip the for simply, to in the Quite portfolio got in smartphone to makers driver of the the new had in the new leading smartphone display The XXXX half and jumpstart we second

QX. in see we what like also We

range million. that currently was we revenue and in QX, Our of about still $XXX will combined in QX strong be likely but OLED revenue QX abnormally the in anticipate OLED

to growth. May, in call, for we of are said record And our in For OLED OLED raising internal top QX previous on guidance the XXXX. call year, time million $XXX this February, own approach our in our On third million. had said revenue revenue would we our the OLED $XXX potential QX we

seasonal record a will new Now OLED due expected year it factors. typical decline certain that seems set revenue to OLED in oil revenue this QX despite

a to turn the three of we In annual all revenue this in for and with than general, midpoint second demonstrated ramp range. million to built forecasted $XXX.X factors, revenue sequentially of third semiconductor compares in digits with range of which the million forward-looking in solid quarter expected that, the barring for increase projected guidance With growth the $XXX $XXX X.X% foundation revenue anticipated quarter rate now is be guidance, The in MagnaChip will you grow to up our beat of profit QX, the compare higher total the that by at the of QX revenue anticipate QX the in to third sequentially non-memory of for XXXX, was million Despite of and million growth and total margins handily revenue compares OLED the unforeseen XX.X% in XXXX we gross quarter for market. of XXXX. double the in in the businesses. $XXX.X XXXX quarter XXXX. as to XXXX headwinds to MagnaChip With third the the be of second and in XX% range to quarter XX% XX%, let's

the I'll Bruce. to Bruce? turn call Now back

Bruce Entin

Thank you, YJ.

concludes like remarks. We'd open Emani, to So, our call for this prepared the questions. now

Operator

[Operator first Rajvindra Instructions] you. with and Needham Company. Gill comes from Thank question Our

Your line now open. is

Rajvindra Gill

results business little rate also ramping, I your Chinese taking your they're the the a could Yes. on disproportionately a congratulations my of great Thanks it if solution that was overall using congrats OLED but very are news. talk and lead. that's it clearly rapid pace, for bit and wondering, impressive seems at OEMs about OLED, technology on questions adoption you adopting given

the half So maybe one XXXX? going second the into I next the some the two on year to happening you and shift feedback of to do the how customers months flexible see provide was over wondering, that from if last in you color could

YJ Kim

the for question. thanks Raj,

very very OLED because shift we product good enables quicker think the as we market aspect with today a ratio. low bezel-less said the the to than had that I cost earlier So saw that we high-resolution the new

price. very much lower compelling that enables the is product and a at very So that

when actually think combine turning started are QX I that QX expected design continued into revenue in million. and half momentum And about our is so pf in really second has than to 'XX look QX better that in that QX now surpassed expectation And QX. $XXX they -- where

terms far as margin there flexible to the into price portfolio. point is product need flexible, will the And second more helps -- that of low really a really flexible, power as which well have I In But gross the as as it's the still in us half high-end balance going very flexible think be high. mix of you important the for device.

And so the we and are working future we about with be the with on that in feature excited the set believe richest with that. most XX-nanometer, very will efficiency we which the cost the lowest roadmap market power are

Rajvindra Gill

That's great.

QX of kind how foundry combined look will a will I the into Can next OLED, take of commentary do QX. kind power and or drop for the the in it of bit does other the terms of talk a any if OLED at you little little QX imply bit quarter? in color a about So segments, growing segments QX,

YJ Kim

That's a question. very good

I we all, of strong abnormally first think, I think did So in QX.

that's of because up lot notch So with up design. trench people sketched to a come normal

double-digit that not because year-over-year business, production But saw at strong growth. very in at it's in abnormal XX.X% but originally you that's QX, grew look XX the it this our if but terms So that's particular quarter phenomena with did. of we power ten,

earlier, to for businesses. continue three have a to also growth to strong segment. growth in that foundation alluded three so we all very have see in I now as We the We going foundry, positive

Rajvindra Gill

company are the -- actually the me cited wafer a were it from gross and just most let companies reorganization me, the last across have in a me clearly seems well. the maybe question increases further seeing than question impact margin, anticipated to as Several And the price that you so increases as raw ask raw the industry. people that wafers on

margin to year, we longer its margin. do ramping is wafer look Maybe because about in put you a Thank OLED As good look you margins you you. your little at it like at is could price how higher how mix into profile, increases we your the look the side, raw shift the your seems next foundry if thinking about talk term? margin

Jonathan Kim

much Raj. Yes. very you Thank that question for

prices, we and impact X% several if us. situation And a look quarters with do as ago a anticipating our wafer see was to X% continue said that's be we not So that significant. with in for was to we're ahead the to And margin. we about the gross this price headwind what wafer think to that we increases connection the

And we epi tool so bring that prepare long-term additional also in-house. try included in and that in bringing to on today try about earlier did making fact of prepayments which that the to talked mitigate we engaging impact we're contracts to some to that

So we're up business to certainly doing at And is things OLED time a mitigate same the helpful. number the impact. of the picking

flow quarter a we quarter, well as example as ago say this cash able had now for free of So were we to last flow negative the year for while level quarter. we that have meaningful free cash

are its to continue. wafer a us. good headwind margin many knowledge I at this very there think gross that look When we for dollars about XXXX, So common as we price development a metric. think is talk there the In out reports the and

more it the So that business gross I think in the strong there margin, a again, gross healthy the but we with past headwind as connection margin. what well than in are we're there foundry components to help out as is healthier forget that OLED to saw business with should many prices. cannot on picking wafer and the But power, we up extent with

Rajvindra Gill

you. Thank good. Very Right.

Operator

comes De Capital. with ROTH Thank next from question Suji Our you. Silva [Operator Instructions]

now Your open. line is

Suji De Silva

Hi, How want forward going to as to display or understand non-OLED is for momentum flat how Jonathan. YJ. Hi, the on just it's I declining business, that Congratulations The might maybe move? a see. going Good here. to Jonathan. To question, start, that housekeeping a be legacy?

Jonathan Kim

because business non-OLED and margin we not pursue not LCD beneficial related the we been some have it about So, low would the to the for talked that of the business, business company. did

and probably should There the there's business some think somewhat on So first out the downs some between think took a the not we consistent ups steps what significant may the going but half movement overall, and could during saw quarter. earlier to be in you I quarters, half. be during we of be second

Suji De Silva

XQ to you or maybe a talk enough. seasonality should if OLED that over fourth the think Fair be in we typical a about what -- then, And Okay. will smartphone magnitude mass about market of how business, you as kind typical switching the the can have seasonal or quarter pattern

YJ Kim

It's a very good question.

So the outlook QX. give already leaves combined that the I QX-QX only

definitely So think than XXXX the there's better curve, we you be could if seasonality but at that look in we quarter. fourth the

Suji De Silva

then, them weighted for or do framing know and that. those two have and the with what two versus diversification OLED, mix of revenue balance its wondering toward one That's is just what large two customers, I'm And you stream? trying the of timeframe today between getting in I customers understand more that for the of the Okay. helpful other is kind expect 'XX balanced to customers you

YJ Kim

we grew product LG those break tend be which don't than out display. XX%, and two think Samsung Unfortunately, report, by we to do I the customer, than customers

Suji De Silva

see people where if similar there the be I'll what from with flagship, then little question, longer feature the sure in that think kind maybe the really a so scenario cycle a catch horizon foldable, sort 'XX this but kind good the upgrade features the catching of early, maybe smartphone say I timeframe? out keep Thanks. 'XX of in I'm up? to lastly have timeframe term another up. 'XX had Okay. that notch. recreate is a this that -- And similar Do that you up some Thanks. you that sort could of to not of the look trench And run looking China

YJ Kim

Yes.

time. created a at know, now foundation that we we we only as it's think say good in what one quarter So But can a a Unfortunately the guide good is look, question. I very you OLED.

the validating that we think we last we I we quarters are it execute. proving that can

So our we to year. sure continue goal is our to every grow -- aim make

very And are like features So that's what forth. we can and so XX-nanometer working say. rich with compelling on products we

in So market the every device. is OLED towards coming

don't it, So on work panel display drive IC, will people the who they right. have or OLED,

we that to product, compelling cost design grow keep we job make a sure first So wins revenue. is more to winning and the roadmap, sure compelling have compelling a make

to that's So intend we what do.

Suji De Silva

YJ progress. again Bruce on Once the and Thanks. Jonathan, Okay. congratulations

Operator

comes from our Thank you. Citi. And next Atif Malik with question

line open. now is Your

Unidentified Analyst

[indiscernible] Congratulations great on Atif. of performance. It's guys. Hi, the on behalf

we for wins? half can Just see clarification if expectations more a the wanted for China get little to design second on

YJ Kim

Yes.

some bezel-less, I of expectations of out today well of know this as the trench as starting we new really run them design that and QX so or we color application. this we our because had sampled the chip three of threw of we think exceeded very had come actually year, the compelling sample -- notch two about with we So display the XX% design XX-nanometer revenue is the XX-nanometer year far, to the translated rigid that QX one last

got feature compelling performance by that very makers. smartphone that us a the to QX revenue And leading in price Chinese in into create QX. that So and rich and smartphones the momentum QX continued

had We not winning still have in are our couple ago. design Again, 'XX. generation that we We a third sampled difference using is we months a wins more that chip, XX-nanometer. did this

going with nanometers and gen so keep next next production, design our readying winning design the will we Now XX forth. and be set then we're of we

So that's what's happening.

So of for I curve ahead had we chip. think we new industry the a compelling because stay the

Operator

Thank you.

Bruce Entin

questions? more any there are Operator,

Operator

session, Q&A Relations of closing This to concludes to call Entin, like will over the Bruce today's back I turn now for Investor Director remarks.

Bruce Entin

you, Emani. Okay. Thank

you our our Relations for look Please second earnings quarter events future of today. does conference conclude this joining call. details XXXX for Investor Web site. MagnaChip's on us So Thank

Operator

program. conclude This does thank conference. for gentlemen, and you Ladies in today's participating the

Everyone You a have disconnect. may all day. great

Magnachip Semiconductor (MX) 30 Jul 182018 Q2 Earnings call transcript