May 3, 2017 / 9:14 PM / 3 months ago

BRIEF-Magnachip Q1 gaap earnings per share $1.05

May 3 (Reuters) - Magnachip Semiconductor Corp:

* Magnachip reports first quarter 2017 financial results

* Q1 gaap earnings per share $1.05

* Q1 revenue rose 9.2 percent to $161.7 million

* Sees Q2 2017 revenue $162 million to $168 million

* Magnachip Semiconductor Corp - believes it remains on track to complete planned workforce reduction within its cash cost range of $29-33 million

* Magnachip Semiconductor Corp - "continue to anticipate that our gross profit margin and adjusted EBITDA will show improvement in 2017"

* Magnachip Semiconductor Corp sees Q2 gross profit is anticipated to be in range of 25% to 27% Source text for Eikon: Further company coverage:

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