Hynix net surges to record on shipments
By Kelly Olsen |
October 29, 2010, Friday
|
Print Edition
Print Edition
HYNIX Semiconductor, the world's second-largest manufacturer of computer memory chips, said third-quarter net profit more than quadrupled to a record high as increased shipments helped make up for chip price declines.
Hynix earned 1.06 trillion won (US$939.5 million) in the three months ended September 30, it said yesterday in a regulatory filing. The company reported net profit of 246.28 billion won a year earlier.
Sales rose 53 percent to 3.25 trillion won. Operating profit - seen as a direct indicator of business performance before taxes, dividends, asset sales and other items figured into net profit or loss - more than quadrupled to 1.01 trillion won.
The net profit result was Hynix's largest ever, said company spokeswoman Park Seong-ae. It was also the fifth straight quarter in the black after it returned to profit in the third quarter of last year after two years of losses.
Since 2008, Hynix Semiconductor Inc has closed its United States factory, cut costs, slashed executive pay and positions and encouraged early retirements.
Hynix earned 1.06 trillion won (US$939.5 million) in the three months ended September 30, it said yesterday in a regulatory filing. The company reported net profit of 246.28 billion won a year earlier.
Sales rose 53 percent to 3.25 trillion won. Operating profit - seen as a direct indicator of business performance before taxes, dividends, asset sales and other items figured into net profit or loss - more than quadrupled to 1.01 trillion won.
The net profit result was Hynix's largest ever, said company spokeswoman Park Seong-ae. It was also the fifth straight quarter in the black after it returned to profit in the third quarter of last year after two years of losses.
Since 2008, Hynix Semiconductor Inc has closed its United States factory, cut costs, slashed executive pay and positions and encouraged early retirements.
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