Primarily due to DRAM shipment growth and improvement in average selling price
Hynix Semiconductor has reported consolidated revenues of KRW2.82 trillion for the first quarter of 2010, an increase of 115% compared to KRW1.31 trillion for the same period last year, mainly due to a favourable memory market condition and shipment growth of DRAM as well as the average selling price improvement.
Operating profit for the quarter was KRW799bn, compared to a loss of KRW515bn in the same period last year. It is mainly due to increased DRAM sales, technology migration and DDR3 expansion. Operating profit increased 13% on a sequential basis. Operating profit margin was 28% for Q1 FY10.
The company has posted a net income of KRW822bn for the first quarter of 2010, compared to net loss of KRW1.17 trillion for the same period last year. Net income increased by 25% on sequential basis.
Quarter-over-quarter, DRAM average selling price and bit shipment climbed by 3% and 6% respectively. NAND Flash average selling price declined by 8% sequentially while bit shipment remained flat.