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Hynix profit below expectations, says report

Posted: 24 Jul 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Hynix Semiconductor? memory chip?

Memory chip maker Hynix Semiconductor Inc. posted a 36 percent increase in quarterly net income, but the profit of $338.8 million (324.4 billion won) came in below analyst expectations, according to a Reuters report last week (July 19).

Hynix said strong shipments of memory chips offset price declines in NAND flash memory during the quarter, which ended June 30, according to the report.

A Reuters survey of analysts who follow indicated that analysts expected Hynix to report a net income of around 358 billion won, according to the report.

Last week, Hynix rival Samsung Electronics Co. Ltd. reported a second consecutive in quarterly drop operating profit, this time of 12.1 percent.

- EE Times

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