Elpida Memory has reported net losses of JPY7.9 billion (US$102 million) on revenues of JPY95.7 billion for its fiscal first quarter ended ended June 30, 2011.

Losses showed improvement from losses of JPY8.2 billion in the prior quarter, but a deterioration compared to profits of JPY30.7 billion in the April-June quarter a year ago.

Revenues declined 80.6% from the JPY176.3 billion posted in the same quarter of the company's fiscal 2010, but grew 3.6% from JPY92.1 billion in the previous fourth quarter ended March 31, 2011.

"In the first quarter of fiscal 2011, the DRAM market experienced solid demand at the beginning of the quarter as customers built up inventory due to supply concerns related to the March 11 earthquake in northeastern Japan. Later, however, sluggish PC shipment volumes disrupted the balance of PC DRAM supply and demand, causing market prices to start declining in June," Elpida said in a statement.

Meanwhile, demand for mobile DRAM used in smartphones, tablet PCs and other mobile devices was lower-than-expected during the April-June period, Elpida indicated.

Elpida's bit shipments for fiscal first-quarter 2011 grew 15% sequentially, missing its guidance range of 20-30% growth. ASP for the period fell 9% on quarter, the company revealed.

Looking forward, Elpida expects its bit shipments to grow about 10% sequentially in the July-September quarter. The company has also narrowed down its shipment growth forecast for the entire fiscal year 2011 to 40-50% compared to the previous range of below-50% to 50%.

Elpida's planned capex for its fiscal 2011 of JPY80 billion remains unchanged.

By: DocMemory
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