by Anton Shilov
11/26/2002 | 07:05 PM
Just noted that Hynix Semiconductor reported the results for its fiscal third quarter of 2002, ended September 30, a number of days ago. The company managed to earn 653 billion won (approximately $541.68 million), 172 billion ($142.8 million) less than in the previous quarter and lost about 511 billion won ($424.35 billion), 293 billion ($243.31 million) more than a quarter before.
The company’s net loss is approximately 617 billion ($512.37 million) won for the period. Net non-operating expense is approximately 16 billion won ($1.33 million) which is comprised mainly of inventory write-off due to the SDR SDRAM price drop. <%BANNER[article]%>
As for consolidated results, the company reported operating loss of 354 billion won ($293.97 million) and net loss of 490 billion won ($406.91 million). However, EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization), indicative of cash creating ability through operating activities, for the period resulted 114 billion won ($94.67 million).
Hynix is unprofitable for loads of reasons, this time, for example, they blame 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. Of course, the company hopes for the better in the fourth quarter, although, a lot of analysts are sure that the company will again report losses simply because of their outdated manufacturing facilities, huge spendings and weak semiconductor market.