Hynix Semiconductor saw its net profits in the first quarter of 2010 hit the highest since the fourth quarter of 2006. Operating profits for the quarter also scored the company's best quarterly results in 13 quarters.
Hynix has posted consolidated revenues of 2.82 trillion won (US$2.54 billion) for the first quarter, up slightly from 2.80 trillion won posted in the fourth quarter of 2009. The company attributed the sequential revenue growth to a favorable memory market condition and shipment growth of DRAM as well as higher ASPs of the chip.
Hynix said its DRAM ASPs and bit shipments climbed by 3% and 6%, respectively, on quarter in the first quarter. However, first-quarter ASPs for its NAND flash chips slid by 8% sequentially while bit shipments remained flat.
Hynix posted operating profits of 799 billion won in the first quarter, with a 28% operating margin. The result grew from 708 billion won in the fourth quarter, and swung from operating losses of 515 billion won a year ago. Higher DRAM sales, as well as the company's technology migration and DDR3 expansion, contributed to the operating profit improvement, Hynix said.
Hynix generated net income of 822 billion won in the first quarter, its third profitable quarter in a row. The company suffered net losses of 1.18 trillion won in the first quarter of 2009.