Elpida Memory saw its net income for the year ended March 31, 2010 reach 3.1 billion yen (US$33 million), higher than its preliminary estimate of two billion yen. Consolidated revenues for the fiscal year grew 41.1% to 467 billion yen, as a result of 50% DRAM bit shipment growth and a 5% rise in ASPs, according to the company.
Elpida's fiscal 2009 also marked its first annual profit in three years. "The global economy showed signs of a gradual recovery taking hold in the second half, as economic measures taken by governments around the world in response to the worsening widespread financial crisis in FY 2008 appeared to have had a positive effect," the company said.
Sales of Elpida's premier DRAM (used in mobile phones and digital consumer electronics) fell about 15% in its fiscal 2009, accounting for slightly less than 30% of its total revenues. However, sales of its computing DRAM line (for servers and PCs) was buoyed by growing PC demand ignited by the launch of Windows 7, soaring substantially by about 85% in the fiscal year.
Elpida continued to generate net profits in the fourth quarter of its fiscal 2009, the second quarter in a row after eight quarters of losses. It posted net profits of 33.7 billion yen for the fiscal quarter ended March 31, 2010, on revenues of 147.5 billion yen.
Elpida saw sales of its premier DRAM line remain flat sequentially in the first three months of 2010, while the computing DRAM segment fell slightly. Its ASP for the fiscal quarter rose 6% on quarter. "The DRAM market did not experience a seasonal decline in demand even after the Lunar New Year in February as it usually does. Demand for DRAMs used in electronic devices, especially PCs, was quite steady," the company said.
Looking into the first quarter of the company's fiscal 2010, Elpida expects its bit shipments to grow by 5% sequentially. Its bit shipments for the full-year fiscal year are projected to grow 45%.
In addition, Elpida said capex for its fiscal 2010 is estimated at 115 billion yen, a significant rise from 43.8 billion yen spent a year earlier.