Hynix reports sixth straight quarterly loss

Apr 24, 2009

South Korea's Hynix Semiconductor, the world's second-largest computer memory chipmaker, Friday reported a sixth straight quarterly loss due to weak chip prices sparked by a global recession.

Net loss for the three months to March stood at 1.18 trillion won (882 million dollars) on a consolidated basis, up 74 percent from a year earlier when the company posted a 676 billion won loss.

Operating loss in the quarter amounted to 515 billion won, wider than its loss of 482 billion a year earlier.

Sales weakened 18 percent from the previous year to 1.31 trillion won from 1.6 trillion won a year earlier.

Creditors Wednesday decided to give Hynix a 1.3 trillion won cash injection to help it ride out the .

This is on top of 800 billion won they injected in December.

(c) 2009 AFP

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