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

September 30,
2019

June 30,
2019

September 30,
2018

Net income (loss)

$

(1,607)

$

(9,520)

$

17,222

Adjustments:

Interest expense, net

4,982

5,092

5,055

Income tax expense

1,454

812

1,608

Depreciation and amortization

8,156

8,202

7,913

EBITDA

12,985

4,586

31,798

Restructuring and other charges

763

1,130

—

Equity-based compensation expense

479

772

1,083

Foreign currency loss (gain), net

21,205

10,431

(6,001)

Derivative valuation loss, net

33

80

518

Other

—

—

473

Adjusted EBITDA

$

35,465

$

16,999

$

27,871

Net income (loss)

$

(1,607)

$

(9,520)

$

17,222

Adjustments:

Restructuring and other charges

763

1,130

—

Equity-based compensation expense

479

772

1,083

Foreign currency loss (gain), net

21,205

10,431

(6,001)

Derivative valuation loss, net

33

80

518

Other

—

—

473

Adjusted Net Income

$

20,873

$

2,893

$

13,295

Adjusted Net Income per common share:

- Basic

$

0.61

$

0.08

$

0.38

- Diluted

$

0.49

$

0.08

$

0.32

Weighted average number of shares – Basic

34,357,745

34,245,127

34,573,377

Weighted average number of shares – Diluted

45,516,245

34,965,562

46,021,610