Hynix reports yet another loss in Q1-09

SEOUL, KOREA: Hynix Semiconductor Inc. announced the earnings results for its first quarter 2009, ended March 31, 2009.

The company recorded the consolidated revenues of 1.31 trillion won down by 13 percent compared to the previous quarter’s 1.51 trillion won. DRAM bit shipment growth declined by 2 percent quarter-on-quarter and the ASP dropped by 7 percent quarter-on quarter. On the other hand, NAND flash bit shipment growth declined by 4 percent quarter-on-quarter and the ASP increased by 10 percent.

Despite decreased sales by weakened bit shipment growth, operating loss in the quarter has been reduced sequentially to 515 billion won from 802 billion won, with an operating margin of negative 39 percent. The improvement in the operating margin was primarily due to cost reduction that was driven by the migration to 54nm DRAM technology.

Net loss for the quarter amounted to 1.18 trillion won from 1.69 trillion won in the previous quarter with negative 90 percent net income margin. The big difference between the operating loss and the net loss was largely due to the interest expense, F/X transaction and translation loss and other expense which includes provisions for the contingent liabilities.