Hynix Semiconductor's net loss sharply narrows

Jul 24, 2009

Hynix Semiconductor Inc., the world's second-largest memory chip maker, said Friday its net loss narrowed sharply in the second quarter as a global supply glut eased.

Net loss for the three months to June fell steeply to 58 billion won (46.6 million dollars) on a consolidated basis, compared with a 1.178 trillion won deficit in the previous quarter and a 711 billion won loss a year earlier.

"Despite the seasonally weak demand in the second quarter, the bottom line has improved a lot as product prices showed signs of rebounding and cost cuts bore fruit," the company said in a statement.

Operating losses also dropped to 211 billion won from a 515 billion won deficit three months earlier and from a 172 billion won loss a year ago.

Sales totalled 1.676 trillion won in the April-June period, up 28 percent from the first quarter but down 10 percent from a year earlier.

"We plan to pull ahead of rivals by stepping up our technological prowess and cutting costs further in the second half of this year," the company said.

(c) 2009 AFP

Explore further: Alibaba IPO comes with unusual structure

add to favorites email to friend print save as pdf

Related Stories

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.

LG Electronics posts record Q2 earnings

Jul 22, 2009

South Korea's LG Electronics Wednesday reported a record quarterly net profit, boosted by brisk sales of flat panel televisions and mobile phones.

Samsung Electronics reports 72% profit slump

Apr 24, 2009

South Korea's Samsung Electronics, the world's top computer memory chipmaker, has announced its first-quarter net profit fell 72 percent year-on-year as poor demand depressed prices.

Samsung announces earnings estimate

Jul 06, 2009

(AP) -- Samsung Electronics Co., the world's biggest manufacturer of memory chips, announced quarterly earnings estimates for the first time Monday, saying it hopes to reduce market confusion and speculation ...

Recommended for you

Job listing service ZipRecruiter raises $63 million

6 hours ago

ZipRecruiter, a California start-up that tries to simplify tasks for recruiters, has raised $63 million in initial venture capital funding as the 4-year-old service races to keep up with growing demand.

Alibaba IPO comes with unusual structure

15 hours ago

Foreigners who want to buy Alibaba Group shares in the Chinese e-commerce giant's U.S. public offering will need to get comfortable with an unusual business structure.

User comments : 0