World's Second Largest Seminconductor Manufacturer Finally Swings to Profit

Hynix Semiconductor shows gain from a faster-than-expected market recovery

South Korea's Hynix Semiconductor on Oct. 23 announced a profit for the third quarter after seven straight quarters of losses.

Net profit was 246.3 billion won (US$207 million) in July-September compared to a net loss of 1.67 trillion won a year earlier. The company cited a faster-than-expected market recovery.

Operating profit was 209.3 billion won against a loss of 465 billion a year earlier. Sales rose 15% year-on-year to 2.118 trillion won.

Copyright Agence France-Presse, 2009

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