Sk Hynix logs all-time high Q3 earnings

SK Hynix, the world's second-largest memory chip maker, reported Thursday a record high quarterly net profit for the three months to September on strong sales and currency earnings.

Net profit came to 1.09 trillion won ($1.04 billion) in the third quarter, up 14 percent from a year earlier, the company said in a regulatory filing.

It also posted an all-time high quarterly operating profit of 1.3 trillion won, up 12 percent on-year.

Hynix attributed the profit growth to technology upgrades and higher margins for data-retaining NAND Flash memory chips.

Revenue grew six percent on-year to 4.31 trillion won, also the highest quarterly amount since the company was founded in 1983.

The chipmaker said firm demand in both DRAM chips and NAND Flash chips boosted overall sales.

The company said it had ploughed a total of 3.9 trillion won into its production facilities over the first nine months this year.

© 2014 AFP