Seoul, Korea, November 14, 2002
hynix Semiconductor Inc. (hynix, www.hynix.com), today announced results for its fiscal third quarter of 2002, ended September 30, with unconsolidated revenues of 653 billion won and operating loss of 511 billion won.
The company’s net loss is approximately 617 billion won for the period. Net non-operating expense is approximately 16 billion won which is comprised mainly of inventory write-off due to the DRAM price drop. As for consolidated results, the company reported operating loss of 354 billion won and net loss of 490 billion won. However, EBITDA, indicative of cash creating ability through operating activities, for the period resulted 114 billion won.
The declined financial results are attributable to weak demand for DRAM and low price consequentially, continued sluggishness of the semiconductor market, and additional cost for resuming operation in HSMA, hynix’s production line in Eugene, Oregon. hynix Semiconductor predicted a brighter fourth quarter with increased revenue based on anticipated seasonal patterns, normalization of DDR DRAM production and sale, and improvement in productivity as a result of facility upgrade.
