Thursday, November 14, 2002
Hynix Semiconductor said its third-quarter net loss narrowed from a year ago, but widened from the previous quarter, on weak demand for its bread-and-butter memory chips.
Poor performance, which slipped from the previous quarter, came as the indebted chipmaker struggled to move into more lucrative, faster chips.
"Hynix may post better results in the fourth quarter, but you'd better not expect a surprise as it still lacks the diversity of product portfolios and is less exposed to expensive chips such as DDRs," said Chin Yeong-hoon, an analyst at Daishin Securities.
Hynixvposted a worse-than-expected 617 billion won ($517.5 million) loss in the period from July to September.
It compared with 1.6 trillion won in loss in the same period last year and 418 billion won loss in the second quarter.
Analysts had forecast July-September net loss to come in between 391 billion won and 528 billion won.
"Losses are mainly attributable to weak demand for DRAM and low price consequently, continued sluggishness of the semiconductor market and additional cost for resuming operations in our production line in Eugene, Oregon," Hynix said in a statement after the market closed.
DRAM chips are the most common type of memory chips used to run electronics products and account for 80 percent of Hynix's sales revenues.
It posted third-quarter operating loss of 511 billion won, compared with 199 billion loss in the second quarter and a loss of 530.9 billion won in the third quarter last year.
By: Docmemory
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