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Politics : Formerly About Applied Materials

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To: StanX Long who wrote (61623)	3/7/2002 12:39:11 AM
From: StanX Long	Read Replies (2) of 70976

Hynix Reports $3B Loss for 2001 Online staff -- Electronic News, 3/6/2002 e-insite.net Hynix Semiconductor Inc. today said that it has turned a profit in the first two months of the year, largely as a result of cost-cutting measures, an increase in DRAM prices and an overall jump in semiconductor demand. The Ichon, South Korea, company has suffered last year from a dramatic decline in DRAM prices. But Hynix today said that it expects to report revenue of about $419.2 million (550 billion South Korean won) and an operating profit of $83.8 million (110 billion won) for the first two months of 2002. Hynix recorded total revenue of about $3 billion (4 trillion won) in 2001, down 55 percent from 2000. Hynix reported a loss of about $2.9 billion (3.8 trillion won), which does not generate cash outflow, in non-operating expenses. The company’s operating loss for the year was $990.8 million (1.3 trillion won). As of the end of 2001, Hynix held a net asset value (shareholder’s equity) of about $4 billion (5.3 trillion won). As Hynix announced in its quarterly settlement last year, the company reflected all financial losses incurred from non-core asset sales, development cost write-offs and overseas subsidiaries.

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