Hynix Semiconductor Wednesday reported a net loss of $875 million (1.05 trillion won) for the first quarter ended March 31, 2003, compared with a $784 million net loss for the previous quarter and a net profit of $26.6 million for the same period a year ago.
Total revenue was $568 million (682 billion won), down 9% from the previous quarter.
The net loss included $709 million in special charges, including write downs of $284 million for loss of goodwill, $208 million for losses on sale of real estate and equipment, $134 million for inventory, $49 million for foreign currency losses, and $34 million for investment losses.
Excluding the special charges, Hynix had an operating loss of $201 million for the first quarter, which was improved from the $290 million operating loss for the previous quarter.
Farhad Tabrizi, vice president of worldwide marketing, said Hynix is expecting a much improved second quarter, as global DRAM prices have stabilized. He said the Korean chipmaker hopes to return to profitability by the fourth quarter of this year.