Hynix Semiconductor has announced net profits of KRW110 billion (US$98.7 million) for the fourth quarter of 2010, down 90% sequentially and the lowest quarterly level in five quarters.
Hynix's DRAM ASP and bit shipments fell by 28% and 18%, respectively, on quarter in the fourth quarter. Meanwhile, NAND flash ASP slid 12% sequentially while bit shipments increased by 32%.
Hynix said fourth-quarter net income was also hurt by the impact of a lost legal case.
Hynix's consolidated revenues for the fourth quarter totaled KRW2.75 trillion, down 15% from KRW3.25 trillion in the prior quarter. Operating profits were KRW418 billion for the quarter, compared to the KRW1.01 trillion posted in the third quarter.
Hynix's consolidated sales amounted to KRW12.1 trillion in 2010, up 53% on year. Operating profits reached KRW3.27 trillion last year, showing a significant growth from the KRW192 billion posted in 2009. The company also swung to net profits of KRW2.66 trillion in 2010 from losses of KRW333 billion a year earlier.