Wednesday, October 22, 2003
Hynix Semiconductor Inc. reported a Q3 net income of 134 billion won (about US$113 million) on sales of 991 billion won (about US$840 million) that ended September 30, the company said.
The main contributions to the profit were a "gain on valuation of investments using the equity method of accounting" generated from overseas manufacturing and sales subsidiaries worth 124 billion won (about US$105 million) and a reduction in "loss on valuation of inventories" worth 53 billion won (about US$45 million), the company said.
Total revenue increased to 991 billion won from 778 billion won (about US$658 million) in Q2, the company said. The average selling price of DRAMs had increased more than 20 percent compared to the previous quarter. DRAM product sales contributed 80 percent of sales, SRAM and flash memory contributed 3 percent and logic chips made up 18 percent in the third quarter
Hynix had 353 billion won (about US$300 million) of cash and cash equivalents on hand, the company said, and its consolidated interest-bearing debt was reduced to 3.8 trillion won (about 3.2 billion). The company also said most of the debt repayments are scheduled at the end of 2006.
By: DocMemory
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