Seoul, October 25, 2004
hynix Semiconductor Inc. (‘hynix’ or ‘the Company’) today announced the earnings results for its third quarter of 2004, ended September 30, 2004.
The Company recorded the consolidated revenues of 1,598 billion won which include the results of overseas subsidiaries with 504 billion won of operating profit for the third quarter.
The consolidated net income was 514 billion won. The consolidated revenues decreased 6% sequentially from 1,698 billion won in the previous quarter.
The consolidated operating profit and net income decreased 26% and 17% from 681 billion won and 619 billion won, respectively. Despite such declines, the Company’s operating margin recorded well above 30%, representing its ongoing cost reduction efforts, expansion of premium product, and smooth progress of Nand flash memory production.
Meanwhile, during the third quarter, the Company successfully closed non-memory business sale, signed cooperative agreement with Wuxi government of China for setup of manufacturing plants in China, and agreed upon term sheets with ProMOS in Taiwan for a strategic alliance.
Through such strategic moves, hynix plans to become a memory focused company based upon technology competitiveness and high profit margins. In parent basis, revenues for the third quarter decreased 8% to 1,542 billion won from 1,684 billion won in the previous quarter and the operating profit decreased 25% to 487 billion won from 648 billion won. Net income decreased 15% to 530 billion won from 625 billion won.
