SAN FRANCISCOSouth Korean memory maker Hynix Semiconductor Inc. returned to profitability in the third quarter on 26 percent sequential sales growth, the company said Friday (Oct. 23).
Hynix (Seoul) recorded a third-quarter net income of 246 billion won (about $208 million) after posting a loss of 58 billion won (about $49 million) in the second quarter, the company said.
Sales increased to 2.12 trillion won (about $1.8 billion), up from 1.68 trillion won (about $1.4 billion) in the second quarter, Hynix said.
Thanks to faster-than-expected market recovery, DRAM average selling prices (ASPs) and shipments increased by 26 percent and 12 percent, respectively, compared to the second quarter, Hynix said. NAND flash ASPs climbed by 4 percent, while shipments rose 5 percent sequentially, the company said.
After being mired in a prolonged downturn, the DRAM and NAND markets have improved considerably in recent months. On Thursday, market research firm iSuppli Corp. said sequential growth in DRAM revenue and pricing during the second and third quarters was the strongest the industry has seen in at least five years.
Hynix's third-quarter profit was the first the company has recorded in two years, according to a Financial Times report.