Computer memory chip-manufacturer Hynix Semiconductor Inc. reported a net profit of 657 billion won for the fourth quarter to December 31, driven by improving shipments of DRAM and NAND flash.
South Korean company’s operating profit on consolidated basis stood at 708 billion Korean won, up from consensus forecast of a 630.4 billion Korean won.
Sales climbed 85 per cent to 2.8 trillion Korean won as compared with 1.51 trillion Korean won in the year ago period.
It may be noted here that Hynix had reported a loss of 1.69 trillion Korean won in the year ago period as demand for personal computers tumbled because of global economic crisis.
Speaking on the topic, Hynix CFO Kim Min-chul said, “Since the global economy entered a recovery phase, demand for DRAM chips is expected to grow this year."
Hynix now aims to match or surpass the growth rate in NAND this year.
Shares in Hynix were at 25,650 Korean won, up 1 per cent, in the recent trading.