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: