DRAM maker ProMOS Technologies has announced a net loss of NT$2.38 billion (US$72 million) for the second quarter of 2009, showing significant improvement compared to losses of NT$8.59 billion for the previous quarter and NT$5.62 billion a year ago.

ProMOS generated revenues of NT$2.14 billion in the second quarter, up 17.8% sequentially but down 77.6% on year. Net sales for the first six months amounted to NT$3.95 billion, representing a 76.9% decrease from NT$17.15 billion for the same period of 2008.

Despite a drop in revenues, ProMOS's net loss for first-half 2009 narrowed to NT$10.98 billion compared with a loss of NT$13.67 billion a year ago. Its EPS also showed an improvement from negative NT$2.05 for first-half 2008 to negative NT$1.51 for first-half 2009.

ProMOS recognized an extraordinary gain of NT$4.35 billion in the first half related to redemption of convertible bonds, according to its first-half 2009 financial report. The financially-troubled DRAM maker managed to buy back the bonds worth US$350 million at discounted prices, after securing a syndicated bank loan.

ProMOS's cash on hand was about NT$344 million as of June 30, 2009.

By: DocMemory
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