SKorea's Hynix finally swings to profit

October 23, 2009

South Korea's Hynix Semiconductor, the world's second largest memory chip maker, Friday announced a profit for the third quarter after seven straight quarters of losses.

Net profit was 246.3 billion won (207 million dollars) in July-September compared to a net loss of 1.67 trillion won a year earlier, the company said in a statement which cited a faster than expected market recovery.

Operating was 209.3 billion won against a loss of 465 billion a year earlier. Sales rose 15 percent year-on-year to 2.118 trillion won.

All figures are on a consolidated basis, including overseas operations.

(c) 2009 AFP

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