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SK Hynix: Fiscal 2Q12 Financial Results …

Bit shipment increased 9% while ASP declined 19% for NAND flash

(in billion KRW) 2Q11 2Q12
 Revenues 2,758 2,632
 Growth   -5%
 Net income (loss) 473 (53)


SK Hynix Inc.
announced financial results for its second quarter 2012 ended June 30, 2012.

The company posted the consolidated second quarter revenue of 2.63 trillion won increased 10% from 2.39 trillion won of the previous quarter. Operating profit was 23 billion won with operating margin of 1%, turning around after 3 consecutive quarter losses. Net loss for the quarter was 53 billion won and it was negatively impacted by interest expense and net foreign currency translation loss.

During the quarter, both DRAM bit shipment and the average selling price increased 7%. For NAND flash, the bit shipment increased 9% while the average selling price declined 19%.

Although NAND flash price declined due to weak seasonal demand in the market, the company recorded the increased revenue during the quarter thanks to relatively solid DRAM and MCP sales. Especially, the price of PC DRAM increased with the market expectations of the industry restructuring and that of non-PC DRAMs was stabilized.

Also, a process technology migration and the yield improvement contributed to improving the profitability in DRAM business. As a result, the operating profit was improved from the operating loss of 260 billion won of the previous quarter.

The company will improve the profitability by starting the mass production of 20nm class DRAM and expanding the proportion of 20nm NAND flash to reinforce its cost competitiveness. Particularly, it will enhance its competitiveness in premium products such as mobile DRAM, SSDs, e-MMC to respond to IT applications. In NAND flash business, it will rapidly internalize a technology in NAND controllers to advance the product portfolio.

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