DRAM maker Hynix reports sixth straight loss
- — 27 April, 2009 05:42
Hynix Semiconductor on Friday reported its sixth straight quarterly loss in the first quarter.
The company continues to take a battering from low DRAM prices, which some analysts say hit their lows in the first quarter and may be improving.
Most DRAM makers have posted continuous losses since the end of 2007 when a chip glut sent prices down, and one company, Qimonda, has already filed for bankruptcy.
Hynix, the world's second largest DRAM maker, reported a net loss of 1.18 trillion Korean won in the first quarter, narrower than its 1.33 trillion won loss in the fourth quarter of last year but wider than the 676 billion won loss it posted in the first quarter last year.
The company was able to reduce costs with new manufacturing technology.
Revenue at the memory chip giant fell to 1.31 trillion won from 1.60 trillion won last year, the company said in a statement.
The company's loss follows losses by other DRAM makers.
Micron Technology of Boise, Idaho, reported a net loss of US$751 million in its most recent quarter, which ended March 5, compared to a net loss US$777 million in the same quarter last year. Revenue at the company slipped to US$993 million.
Taiwanese DRAM makers will report earnings next week, while Japan's Elpida Memory will report on May 12.
The companies have cut back production and closed older factories to shore up the glut in DRAM, but falling demand for the main end product for DRAM, computers, has kept DRAM prices low.