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SK Hynix: Fiscal 2Q17 Financial Results

For NAND flash, shipment declined 6% but ASP rose 8%.

(in KRW billion) 2Q16 2Q17
Revenue 3,941 6,692
Growth   70%
Net income 286 2,469

SK Hynix Inc. announced financial results for its second quarter 2017 ended June 30, 2017.

The company reported its best-ever quarterly revenue, operating profit and net income in two successive quarters.

The consolidated second quarter revenue was KRW6.69 trillion while the operating profit amounted to KRW3.05 trillion and the net income totaled KRW2.47 trillion. Operating margin for the quarter was also at an all-time high 46% and net margin was 37%.

Revenue trend

During the second quarter, favorable market conditions continued to raise memory semiconductor prices. The company benefited by dealing well with the market situation, elevating its revenue and operating profit by 6% and 24% each compared to the previous quarter.

Quarter-over-quarter, DRAM bit shipment increased 3% and the ASP rose 11%. Both grew up, courtesy of strong demand from a server sector.

For NAND flash, the bit shipment declined 6% but the ASP rose 8%. The shipment decreased due to sluggish demand growth in smartphones but the ASP could increase thanks to ongoing strong chip prices in every NAND flash product category.

In the latter half, SK Hynix is to consolidate its position in the memory market with the operation of the product portfolio centered on server and mobile applications, which are expected to persistently lead market demands. The company will expand the mass production volume of a high-end mobile LPDDR4X and also start to mass produce 1Xnm DRAM in the second half as planned.

Plus, it will begin to manufacture 3D NAND flash on the upper floor of M14 Fab. Moreover, with its 72-layer 3D NAND, SK Hynix plans to supply mobile solutions and cSSDs at the end of this year then eSSDs in the next year.

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