Elpida has reported net profits of 30.7 billion yen (US$352 million) for the first quarter of its fiscal 2010, compared with a 44.4 billion yen loss a year earlier. This also marked its third profitable quarter in a row.
Elpida's revenues for the three months ended June 30 reached 176.3 billion yen, showing growth of 19.5% on quarter and 143% on year. Operating profits for the same period were 44.4 billion yen, compared to profits of 37.8 billion yen in the prior quarter and losses of 42.3 billion yen a year earlier.
Elpida said demand for DRAM used in PC, smartphone and other consumer electronics applications was strong in the April-June period despite seasonality. ASPs rose 9% from the prior fourth quarter of its fiscal 2009, and soared 78% on year. The company also saw its bit shipments grow 8% sequentially, beating the company's guidance of 5% growth.
Sales of Elpida's premier DRAM (used in mobile phones and digital consumer electronics) increased about 20% sequentially in the April-June period, thanks to growing demand for smartphones and digital TVs. Meanwhile, sales of its computing DRAM (for servers and PCs) grew 20% on quarter to account for 80% of Elpida's total sales in the fiscal first quarter.
Elpida expects its bit shipments to grow by 5-10% sequentially in the second quarter of its fiscal 2010. Its shipment growth estimate for fiscal 2010 remained unchanged at 45%.